Next quarterly is approaching and this one should show some...

Next quarterly is approaching and this one should show some decent revenue. Based on the Quarry announcement on the 23rd of Dec and the power upgrade ann on the 10th of Jan and the supporting morgans report we know:

EQR booked sales of 1mil AUD for the two months of oct/nov. So 500k a month. Lets be pessimistic and say only 250k for dec due to holiday shutdowns etc. So revenue of 1.25mil from the quarry.

EQR had the best month yet in December 2021 at 40tonnes of 50% grade tungsten concentrate. Based on morgans report where they state "Given the current ammonium paratungstate (APT) price, and the discount for a 50% tungsten concentrate, which has to be to be converted to APT, we anticipate that Mt Carbine could generate A$1M per month for the JV." This is based on 90tonnes per month. Using the same ratio we would get 40tonnes = $440k. At 50% to EQR from JV is another 220k revenue for the dec month. Again lets be pessimistic and say oct/nov was 10t per month which would lead us to another 55k for each month for EQRs share.

1.25 + 0.22 + 0.055 + 0.055 = 1.58mil aud for the quarter.

last quarter EQR took in 1.82mil AUD mainly due to the large BAMA contract. Hopefully this quarter isn't to far from that.

Not sure how the spending is going to compare. Last quarter there was ~1.1mil spent on exploration and BFS work. Based on all the equipment and ramp up of production off the back off upgrades I expect one off costs to be substantially up this quarter but no exploration spend (I think??) may help. Hopefully the hit to cash reserves is not to drastic.

Over all I am happy with the direction EQR has been taking and very much like managements current stance on small incremental growth focussing on slow and steady shareholder appreciation.

Like always this is just my ramblings so it is probably well off on many factors and please correct me where you can.


And don't forget to think about those Bonanza grades announced on the 5-8-21. GLTAH