It's important people understand Cronimet's involvement.1. The...

It's important people understand Cronimet's involvement.

1. The JV signed with Cronimet when Russell Krause was MD was a company saving event. Russell didn't have many options and other deals were trying to screw him. In short, we wouldn't own Mt Carbine if it wasn't for Cronimet.
2. Most of the large shareholders in EQR are in Singapore and have been backers of this company after Cronimet came in. Unfortunately, we have little interest from Australian insto (as we are not gold, copper or lithium). Raising capital would have been harder.
3. We don't have to worry about marketing our product to the world. Cronimet takes everything we can produce, and the price is set by the European market price.
4. In the quarterly, there are outstanding debts to Cronimet. These have come about because over the last 5 years, Cronimet has carried some of the cashflow shortage for us as the development and ramp up of the project occurred. If we didn't have them backing the project, either there would a lot more shares would have been issues at lower prices or we would have folded.
5. Cronimet has agreed to convert their $30m NPV into $10m of equity at 9c. They are a long term shareholder and want the company to suceed.
6. Oliver K - EQR chair (previously co MD of Cronimet) & Kevin M former employee of Cronimet have strategically put the pieces together which has restarted the company, gained backing from a raft governments, signed industry partnerships. We wouldn't have the company if these two weren't there.
7. Cronimet and Oliver were fundamental in the Saloro deal.

I have probably missed a few other things they have done behind the scenes.

This is the recent history of where we have come from. While nothing is perfect, please check your facts before sprouting.