CortonI had a look at the prospectus. I could only find the...

Corton

I had a look at the prospectus. I could only find the following

and then in the future cashflow section of the IPO it shows total capex of $97m

BTW, timeline in the IPO, but Lewis continues to say things on target.


Then the Almonty MDA up date 31Mar 2022 says "EPC price reaches approx USD $50m which accounts for 65% of the total expenditure budgeted for the Sandong Project". Using my calculator that gives $75m.

In the investor update May 23 Sandong capex $75m - Phase 1 is $75m
Oct 23 total capex is $228m but phase 1 is $75m.
Feb 25 total capex is $120m but phase 1 is now $125m.

The loan for $75m has always been, which has been fully drawn.

Why the changes? and where will the money come from. why has ramp up changed from 12 to 9 and now 3 months.
Why has the timeline changed?
Why does he say they are profitable when they haven't had a profit since at least 2018.

The aim of providing this information is that shareholders seem not to be asking why the changes. We saw the same things happening with G6M.

The market seems to assume he can achieve 85% recovery in year 1. This hasn't achieved by any other Western tungsten mine for the last 10 years.

You can play the man, but the facts still remain facts.

EQR hasn't been a straight road and continues to have issues, but they are currently producing 2 times Almonty and 15% of the market cap. You can book mark this, but I think the market has it wrong.