EQ Resources Limited (ASX: EQR) reported robust Q1 FY2025 results, driven by record tungsten production at its Mt Carbine (Australia) and Saloro (Spain) operations. Mt Carbine achieved 26,028 mtu production, transitioning to an owner-operator model to reduce costs and boost efficiency, while drilling confirmed high-grade ore in Open Pit Stage II. Saloro produced 27,965 mtu, implemented processing improvements, and initiated new phases at the Barruecopardo mine.
EQR recorded AU$21.2 Million in operational cash receipts, with a closing cash balance of AU$3.4 Million. The company acquired full ownership of Mt Carbine by purchasing its JV stake from Cronimet and secured a strategic offtake agreement with Elmet Technologies. Operational highlights include new mining equipment, expanded ore sorting, and significant improvements in recovery. EQR also received a Queensland government grant for trialing ore sorting at Wolfram Camp. With sustainable practices and expansion initiatives, EQR aims to become a key global tungsten supplier.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
