Unfortunately it looks like they are in trouble. Plonka Gopher & I have highlighted the short comings at G6 for a number of years.
Their build was many more times EQ. ($millions). The plant maker they used had been discarded by Masan as not working properly before they built it & they couldn't ore sort.
The cost of location was always going to be high. compare EQR admin with G6.
There are major questions about the underground given its next to the Bass Strait!
There were other warning signs such as - who had tungsten experience and the MD's family didn't move to the island.
EQR isn't out of the woods yet & there is still risk. But I happy that due diligence has been undertaken by Cronimet, Oaktree, QIC, the Australian Govt, QLD Govt, Masan & Elmet.
EQR Price at posting:
4.5¢ Sentiment: Buy Disclosure: Held
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