EQ Resources Ltd
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About EQ Resources Ltd
Overview
EQ Resources Ltd is a leading non-Chinese tungsten producer with operations in Australia and Spain. The company operates the Mt Carbine mine in Queensland and the Barruecopardo mine in Spain, producing both scheelite and wolframite concentrates. Following recapitalization in 2024-2025 and the Spanish acquisition, EQ Resources has achieved record production levels and is capitalizing on strong tungsten prices driven by supply constraints and critical mineral designation.
Operations
EQ Resources operates two tungsten mines: Mt Carbine in Far North Queensland (producing scheelite concentrate from tailings reprocessing and fresh ore mining) and Barruecopardo in Spain (producing wolframite concentrate), acquired from Saloro in January 2024. Combined operations achieved record monthly production in October 2025 with over 20,000 tonnes of tungsten oxide concentrate. Barruecopardo achieved profitability within nine months of acquisition and has significantly improved recoveries through operational enhancements including XRT ore sorting technology.
Strategy
The company's strategy focuses on maximizing production from both operations through continuous improvement and technology deployment, expanding reserves and mine life through exploration and resource definition, capitalizing on tungsten's critical mineral status and strong pricing environment, securing strategic offtake agreements with key consumers including defense and manufacturing sectors, and maintaining financial flexibility following successful recapitalization. EQ Resources benefits from US EXIM Bank support for critical minerals.
Key Projects
Major initiatives include commissioning of the third XRT ore sorter at Barruecopardo increasing capacity to 150 tonnes per hour, installation of wet scalping screens and shaking tables to enhance recovery, Stage 2 fresh ore mining expansion at Mt Carbine, exploration programs to extend the 39% increased ore reserves at Barruecopardo (mine life to 2034), and securing new offtake contracts for 2025-2026 covering production from both operations. The company has received US EXIM Bank letter of interest for project financing.
Primary Commodities
Financial Metrics
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Press Releases
Is EQ Resources' (ASX:EQR) Boardroom Challenge Recasting Its Governance Story or Just Adding Noise?
On February 13, 2026, EQ Resources Limited disclosed that shareholder activist Stephen Mayne has nominated himself as a non-board-endorsed candidate for election to the board at the annual meeting scheduled for March 16, 2026, while the existing board has urged investors to vote against his appointment. This contest highlights a potential shift in governance priorities, as shareholders weigh the merits of an independent voice against the current board’s preferred direction. Next, we’ll...
Assessing EQ Resources (ASX:EQR) Valuation After Tungsten Interest, Project Updates And Share Issuance
EQ Resources (ASX:EQR) has drawn fresh attention after a sharp share price move linked to renewed interest in tungsten, project updates, and a recent increase in ordinary shares on issue. See our latest analysis for EQ Resources. That sharp move in EQ Resources’ share price over the past month, including a 122.89% 1 month share price return and very large 1 year total shareholder return, comes after project updates, heightened tungsten interest and fresh ordinary shares being quoted on the...
EQ Resources First Half 2025 Earnings: AU$0.012 loss per share (vs AU$0.005 loss in 1H 2024)
EQ Resources ( ASX:EQR ) First Half 2025 Results Key Financial Results Revenue: AU$34.8m (up 476% from 1H 2024). Net...
Investors in EQ Resources (ASX:EQR) have seen respectable returns of 61% over the past five years
Generally speaking the aim of active stock picking is to find companies that provide returns that are superior to the...
Quick Facts
- Ticker Symbol
- EQR.AX
- Market Cap
- Small Cap
- Category
- Tungsten
- Commodities
- Tungsten
- Headquarters
- Perth, Australia
- Founded
- 2010
- Employees
- ~300
Operating Countries
Producing Assets
- •Mt Carbine (Australia)
- •Barruecopardo (Spain)
Development Assets
- •Mt Carbine Stage 2 (Australia)
- •Barruecopardo Expansion (Spain)
This information is for educational purposes only and does not constitute investment advice. Always conduct your own research before making investment decisions.