EQ RESOURCES LIMITED (ASX:EQR) - Ann: Webinar - Mt Carbine Tungsten Project Update, 68066661, page-17 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum

Originally posted by scottm: ↑

A good update.

Some observations from the talk.
Kevin and Tony seemed to be VERY PLEASED with what they are seeing. As Kevin said, I don't understand why the price is at the current level, but he then said, but I know alot more than the general public.
- significant increase in the resource with more to come, with BFS of $307m only representing 20% of KNOWN RESOURCE.
- by doubling the plant capacity from 2025 they have shorten the life from 16 years to 10 years, but allows scope to add 80% of resource into reserves which will extend the years. Tony thinks this is a multi-generational deposit.
- by doubling the plant they have lower the opex to being one of the lowest cost producers, which means they can keep working during period of lower prices (plus quarry revenue).
- Mt Carbine has been known as a lower grade deposit, however the drilling results are showing that's not the case with grades well above 1% still open.
- A new crushing plant will double capacity from Jan/Feb and work 24 hours.
- Infilling drilling keeps confirming the previous results. De-risking.
- Processing plant with new shaker tables and established team, means this has also been de-risked as they have been processing the LGS.
- Planning on 3 months of production to get cashflow running and then they will look to expand the drilling program as deposit is open to the north and west (width and depth). Some of the best drilling results still open.
- low strip ratio helps with the economics.
- grade control continues to be met.
- Tony said nothing to slow us down as most of the risks have been removed.
- Masan will refine all they can produce and Cronimet will sell it.
- Great partner in Goldings who have worked proactively with Kevin and team.
- No labour shortages and seen as a preferred place to work. Not all mines can say that.
- 70,000 tonnes of resource in the underground. This compares with 16,600 tonnes in open pit BFS. This suggests the underground value is likely to be a number of times the pit (currently not in BFS value).
- When they get cash, they are going to expand this deposit to show the true size of it. To date they haven't done this as they didn't want to dilute shareholders. It also suggests no capital raise (unlike one poster suggested a few months ago).
- Masan has tried every piece of equipment. They are also learning from them.
- We are Masan's preferred working partner (the team must be doing things right).

There is more in the video.

In summary, there is more value to come, they are proving and checking every step of the process and de-risking. The market will pay attention when the cash hits the can which isn't too far away.

When that happens the SP won't be sitting in single figures.

Merry Christmas!

Expand

Great commentary as per usual Scott.

One thing I think that is worth commenting on in regard to doubling of plant through put is that it will bring EQR that much faster to the tonnage of production that enables them to buy the current plant for $1 from the JV. After that all the production is EQRs.

It was a great webinar from Kevin and Tony, Very happy to the a holder in EQR and being part of the journey over the last few years and hopefully of the decades to come. Nudge Nudge market, wake up!

No.	Vol.	Price($)
1	150000	4.7¢

No.

Vol.

Price($)

150000

4.7¢

Price($)	Vol.	No.
4.8¢	50000	1

Price($)

Vol.

No.

4.8¢

50000

No.	Vol.	Price($)
1	150000	0.047
1	124131	0.046
2	634000	0.045
1	2275	0.044
3	306558	0.043

No.

Vol.

Price($)

150000

0.047

124131

0.046

634000

0.045

2275

0.044

306558

0.043

Price($)	Vol.	No.
0.048	50000	1
0.049	192376	4
0.050	275000	3
0.051	25000	2
0.065	287904	1

Price($)

Vol.

No.

0.048

50000

0.049

192376

0.050

275000

0.051

25000

0.065

287904

(20min delay)
Last 4.8¢		Change 0.001(2.13%)		Mkt cap ! $99.13M

Open	High	Low	Value	Volume
4.8¢	4.8¢	4.8¢	$18.90K	393.9K

Great commentary as per usual Scott. One thing I think that is...

BHP dips as WA nickel suspended after A$6B hit; losses eased by US CPI and forewarning

SKS Technologies wins US$90M award to supply power to international hyperscale data centre in Melbourne

Nimy to raise $1.21M to explore 'newsy' WA targets

Infini soars 50% as company reveals it could’ve just made uranium history – redefining what it means to be “high grade”

Immutep reports strong response rate from immunotherapies treating carcinomas

Nanocap Middle Island Resources kicks off Barkly copper-gold drill run – a potential IOCG-style NT project

ASX hits all time high out the gate on Friday trades following bullish US inflation data

Week 27 Wrap: ASX hits all time high; CBA shares' two realities; US inflation hits 3% ahead of China plenum

Almonty locks in govt agreement for tungsten oxide plant in South Korea

Bitcoin investors need to know the risks

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Great commentary as per usual Scott. One thing I think that is...

Top Stories

BHP dips as WA nickel suspended after A$6B hit; losses eased by US CPI and forewarning

SKS Technologies wins US$90M award to supply power to international hyperscale data centre in Melbourne

Nimy to raise $1.21M to explore 'newsy' WA targets

Infini soars 50% as company reveals it could’ve just made uranium history – redefining what it means to be “high grade”

Immutep reports strong response rate from immunotherapies treating carcinomas

Nanocap Middle Island Resources kicks off Barkly copper-gold drill run – a potential IOCG-style NT project

ASX hits all time high out the gate on Friday trades following bullish US inflation data

Week 27 Wrap: ASX hits all time high; CBA shares' two realities; US inflation hits 3% ahead of China plenum

Almonty locks in govt agreement for tungsten oxide plant in South Korea

Bitcoin investors need to know the risks

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News