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An announcement from EQ Resources Limited ( (AU:EQR) ) is now available.
EQ Resources Limited has announced the opening of a Share Purchase Plan (SPP) to raise up to $3 million, offering shares at a price of $0.035 each, which is the same as their recent $18.8 million placement. This initiative allows existing shareholders in Australia, New Zealand, and Singapore to acquire new shares under the same terms as the placement, with proceeds intended for capital projects, debt reduction, and working capital. The SPP, which is not underwritten, provides an opportunity for shareholders to invest without brokerage or transaction costs, potentially impacting the company’s financial stability and growth prospects.
More about EQ Resources Limited
EQ Resources Limited is a leading global tungsten mining company dedicated to sustainable mining and processing practices. The company is listed on the Australian Securities Exchange and focuses on expanding its world-class tungsten assets at Mt Carbine in North Queensland, Australia, and at Barruecopardo in the Salamanca Province, Spain. It leverages advanced minerals processing technology and unexploited resources across multiple jurisdictions, aiming to be a globally leading supplier of the critical mineral, tungsten.
Average Trading Volume: 1,214,673
Technical Sentiment Signal: Sell
Current Market Cap: A$84.96M
See more insights into EQR stock on TipRanks’ Stock Analysis page.