Banter and General Comments, page-29

A note from Morgan's Chris Brown released this afternoon.

Subject: CompanySnapshot: EQR - if you're going to have a War, you need your own tungsten.Strategic.

Well, the Market is “off”, and while our thoughts and sympathies are with our friends in Ukraine, this may be the start of a “layering in “ opportunity.

I’m not sure that “strongly condemning” President Putin will do much. And it’s apparent that NATO and the UN won’t take any physical action.

It’s “all assistance, short of any actual help”, to quote Michael Knox. So the only certainty is uncertainty.

In my space, KGL is now down to A$0.47 per share. It’s got a good copper deposit in the NT, fully permitted and robust. Do you own enough?

It needs to fund the development, and make the FID, but it’s robust – that means it should go. High grade, good size, stable jurisdiction.

But this is about EQ Resources, producing tungsten fromits Mt Carbine mine, inland from Cairns.

It’s operating. It’s producing tungsten concentrate. It’s got an un-mined resource sitting in two benches below the open pit which was mothballed.

The Chinese, who control 83% of tungsten production smashed the price in 1986 and shuttered almost all the West’s tungsten mines.

They control the supply. Tungsten is what you need for armour and armour piercing shells. And for jet engine turbine blades.

More importantly, you need it for machine tools to make things – like a computer chassis. And to drill oil and gas wells, and blast holes at mines.

The link’s below, and the front page of the note. Disclaimers and Disclosures (I own both KGL and EQR) are in the body of the Snapshot.