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EQ Resources Limited ( (AU:EQR) ) has issued an announcement.
EQ Resources Limited has issued 131,868,132 fully paid ordinary shares to Cronimet Asia and 648,649 shares to senior adviser Andrew Goledzinowski through a debt-to-equity conversion and consultancy arrangement, respectively, at deemed issue prices between 3.5 and 3.7 cents per share. The new shares, issued without a prospectus under relevant Corporations Act provisions, reflect balance sheet strengthening via debt reduction and equity-based compensation while the company confirms ongoing compliance with its financial reporting and continuous disclosure obligations and the absence of undisclosed price-sensitive information.
The most recent analyst rating on (AU:EQR) stock is a Hold with a A$0.06 price target. To see the full list of analyst forecasts on EQ Resources Limited stock, see the AU:EQR Stock Forecast page.
More about EQ Resources Limited
EQ Resources Limited is an Australian Securities Exchange-listed mining company focused on tungsten, a critical mineral, with core operations at the Mt Carbine project in North Queensland, Australia, and the Barruecopardo project in Salamanca Province, Spain. The company aims to be a leading global supplier of tungsten by leveraging advanced mineral processing technologies, unexploited resources in multiple jurisdictions and pursuing further exploration and corporate opportunities in the broader new-economy and critical minerals sector.
Average Trading Volume: 20,525,892
Technical Sentiment Signal: Buy
Current Market Cap: A$290.3M
See more data about EQR stock on TipRanks’ Stock Analysis page.