"The first automotive concept, which demonstrates how the technology can be utilised in passenger vehicles, will be unveiled in June this year"
This is the part I like - unveiling the first automotive concept car - proof of concept.
The technology of using tungsten in EV batteries has been exhaustively researched, trialled and proven over many years by a team of Cambridge University academics led by Clare Grey. This research led to Clare Grey establishing a startup company called Nyobolt back in 2016 and then went on to further capital raising in July 2022 when Masan Hi-Tech kicked the tin for EURO 50 Million.
Its not unreasonable to assume that there is a deal afoot for Masan to continue to supply tungsten to Nyobolt and thus protect their huge investment in the company.
And as we know, Masan Hi-Tech have recently signed an MOU with EQR - its not a huge stretch to conclude that Masan need to strengthen their ties with a solid and reliable tungsten producer to ensure that supply- especially given that their flag ship Nui Phao tungsten 80km from Hanoi in North Vietnam is coming off its peak production.
Oliver and Kevin have demonstrated their extremely deft skills in positioning EQR at the very epicentre of this evolving tungsten market and its key players.
Just consider the entities with whom we now have strong direct connections to; -
Cronimet, a private family owned business (1600 employees over 70 locations across 6 continents) generating hundreds of millions in revenue - having made their start in scrap metal and recycling, they have positioned themselves between the producers and users of many critical and key minerals.
Masan Hi-Tech - a global company of more than 2100 employees who recently reported annual revenue of $662M
Company's such as Nyobolt are a bit more tangential but nevertheless are key in the web of connected company's.
My guess is that as we get further entrenched into production from the Andy White pit, that this list of high profile massively wealthy companies will become intrinsically connected to this growing web
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