they are limited to what they can disclose because of the ASX rules. However, these are the notes I took.
Mt Carbine -1st year grades lower than expected but improving as they go lower. - ore sorting and crushing levels are increasing, which has led to record monthly productions. If they can manage the grade, this should continue and even through the wet season (where previously they had to virtually stop). - owner manager is allowing lower cost but more flexibility in decision making and mine management. - still need to remove waste benches to get to higher grade ore - continuing to learn about the deposit and the veins.
Saloro - recoveries have improved from below 40% (Oaktree) to 60% with the aim being over 70%. - addition of ore sorters and knowledge from Mt Carbine and Masan has helped. - New management team and fresh eyes has made a big difference. - could dwarf Mt Carbine if they get the recoveries higher.
Wolfram Camp - excited about initial assessment of the geology. - existing low grade stockpile is higher grade than Mt C stockpiles. - Bamford Hill could be bigger than Wolfram Camp.
Underground Mt Carbine Looking forward to the drilling. Strip ratios less than opencut and higher grade.
Global Not seeing competition from suppliers and EQR could be main supplier to US. The DOD ban starts from 2026, US needs to secure supply!! Considered to be a domestic US supplier due to the deal with Elmet. Applying for US Govt grants (not one producing tungsten mine in US)
There was a little more than just fluff!
EQR Price at posting:
5.5¢ Sentiment: Buy Disclosure: Held
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