Management have taken us on a very good ride over these last 12 months with some absolutely great achievements, particularly in the long awaited area of production at both mines, breaking records month after month.
Most of us are initially averse to a capital raise due toe the effects of dilution etc, but Management have been able to get some big boys on the register at a premium which has avoided the dilution
Not sure what the terms are on this one nor who it will be pitched at but what give me comfort is that they would not do this unless they had to and it will mean that they can maintain their strong momentum in further developing these two mines or the company as a whole.
This is a particularly critical time with so much geo-political tension and we need to be able, and been seen to be able, to deliver a critical product when needed - not too many tungsten miners can claim this ability in the here and now.
G6M have failed, Tungsten West have failed, Almonty are probably 2-3 years behind us and even USA' own tungsten mine (who will likely be the recipient of considerable financial support) are maybe up to 4-5 years away.
After this CR, after more organic production and after we receive one or perhaps more Govt grants, our balance sheet will be looking very healthy.
EQR Price at posting:
5.0¢ Sentiment: Buy Disclosure: Held
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