We do need to have successful tungsten mines in our market (EQR & G6M).
I too have heard lots of stories over the years about problems going underground at King Island. The June 2019 PFS was only open cut. Then they introduced the underground Dec 2020. I wonder what happened to change their minds. Anyway good luck to them.
It will be only a matter of time until the punters find the EQR story and the value to be had. Especially when the NPV is changed to $250m plus with the low halo, the extra drilling from the West Dyke and lower interest bill from the Federal Govt grant. This is before the underground gets added.
The delay from other global players has increased EQR's standing in the broader industry. The $4m offtake at 0% is a good sign and the Aust Govt grant. There is growing interest from the US.
We just need a few other piece of the puzzle to come together - final drilling results from the West. 2nd ore sorter, Wet screen and increased monthly production. An updated BFS. Then we will be able to say this is what we are DOING, not we are promising to do.
An analyst told me a good rule of thumb was for the market cap to be 10% below the NPV (but depended on timeframes).
Patience is a virtue.
EQR Price at posting:
5.7¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)