EQR 3.92% 4.9¢ eq resources limited

Tungsten price rising, page-6

  1. 2,236 Posts.
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    I can understand shareholder frustration 1 year ago cnq shares were trading around $0.15. Mitsubishi was on board Jim had invested around $750.000 of his own money at around $0.13. Jim and the board were taking shares and options instead of cash at$0.14.Creditors were willing to take over 1.36 million shares at $0.14 Instead of cash. Mitsubishi has carried out extensive due diligence (at no cost to cnq) Morgans target research was $0.20. With the Fanya mess and the tungsten price crashing,Mitsubishi and the board delayed the project and the $15,000,000 loan until the tungsten price improved.Which in retrospect was a smart move. Look at WLF they started mining at the worst possible time rushing there project without proper due diligence. This resulted in a capital raising at $0.25 I believe it was to low and in return smashed our share price. With the board getting Lanstead Capital on board was a very smart move,they are a very smart investment firm.They did get a deal of a lifetime and will make millions on this deal.But at $800,000 for every cent rise in share price .Lanstead have plenty of money they are willing to invest in good Australian company;s . Fellow shareholders in CNQ Start looking positive towards Jim and the board we need him and his relationship he has built with Mitsubishi . the tungsten price is recovering. Everything is in place it is just the waiting game with the tungsten price.USA stockpiles are being exhausted the military need so much tungsten.Morgans very conservative pricing is around $0.06.buyers are starting to come in. So why would anyone Sell at these low prices most cnq holders would have an average price from $0.07 up to $0.15 so they are all selling at a massive loss.In the last 12 months with all the negative posts on cnq I have enjoyed buying over 1,100,000 more shares at this bargain level even below the capital raising level.This is a perfect time to buy hold the shares 12 months for a 50%tax reduction or sit them in a self managed super fund.Getting in at this price is a steal.Good luck to all fellow shareholders I hope you all hold your shares keep the day traders out for now and make heaps of cash , Note I have never sold one share in Cnq and have been buying for 3 years and I have never been more confident in Jim and this company.
 
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Mkt cap ! $91.08M
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Last trade - 15.06pm 03/05/2024 (20 minute delay) ?
Last
4.9¢
  Change
-0.002 ( 2.00 %)
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Last updated 15.06pm 03/05/2024 ?
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