Absolutely agree scottm..According to my analyst contact, it...

Absolutely agree scottm..


According to my analyst contact, it looks like the APT price is going to “inch” its way through 2021, with a march to around $250 mid year and with a $300 pricing level unlikely until 2022 – a gentle and progressive upward trend.
Noone is calling a lower APT price from 2021 on – this is a good thing.

These APT price predictions coincide quite nicely with the Mt Carbine project timeline – see AGM presentation on page 12.
Most, if not all, of 2021 will be taken up with upscaling the pilot plant, obtaining increased throughput permissions, resource evaluation and progressing the “king vein” analysis – more detail will be forthcoming on these via the feasibility outcomes to be released soon.

In the meantime, EQR has revenue coming in from the quarry, sale of tungsten to Cronimet and at some stage (?) royalty from same.
EQR, with both low CAPEX and low OPEX (thanks to quarry revenue), have the advantage of a healthy margin even at these quite low APT prices whilst many other “hopefuls” likely need a much higher APT price to break even.

Consequently, aspiring companies with much higher OPEX are/will be constrained and this is very likely a great opportunity for EQR to attain near maximum/optimal production at a time when APT prices recover whilst other aspirants lag due to price risk.

There is also the possibility of some debt funding forthcoming in the new year, possibly from Govt sources.
Cash from operations, quarry and “all time low cost” Government (or commercial) debt bodes very well indeed for EQR in 2021.