EQ Resources Limited (ASX: EQR) has signed a Share Purchase Agreement (SPA) to acquire Saloro S.L.U., a leading European tungsten producer, from Tungsten Mining JV S.L.U., which is managed by Oaktree Capital Management. This transformative acquisition enhances EQR's position in the global tungsten industry and includes a AU$25 million investment by Oaktree for 278 million new ordinary shares at AU$0.09 per share, giving Oaktree a 15.86% stake.
This investment aims to strengthen EQR's presence and capital market positioning. The acquisition positions EQR as the largest tungsten concentrate producer in the Western World, benefiting from two top-tier mining jurisdictions. The deal is subject to approval by foreign direct investment agencies in Australia and Spain. Saloro's Barruecopardo mine in Spain, recognized for its sustainable practices, will be integrated into EQR's operations to optimize production and expand its footprint in the global tungsten supply chain.
Customer Notice:
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.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 20, 2024
Nov 20, 2024
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.
