Ann: Underground Scoping Study Gives Confidence to Proceed, page-8

revenue calculation more like this:

- say 1000 tons throughput @ 1% WO3 => (theoretical) 10 tons WO3, BUT the plant wouldnt be able to recover all WO3..say 80% (good recovery for minerals processing plants)
- so 8 tons WO3 recovered out of 1000 tons input.. the concentrate quality currently is 50% WO3, meaning 16 tons of 50% WO3 produced out of the above
- now, EQR is not producing APT (=price index), thats their customers doing it, so there is a discount applied from EQRs customers.. I once referenced 23% discount from one of Almonty's quarterly reports
- 1 ton concentrate @ 50% WO3 @ USD350/mtu @ 77% payable => USD35000 * 50% * 77% => USD13475
- RESULT: 1000 tons input => 16 tons of 50% WO3 @ USD13475 => USD215600