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EQ Resources Limited ( (AU:EQR) ) has provided an update.
EQ Resources Limited announced that its Spanish subsidiary, Saloro S.L.U., has repaid a €5 million debt facility with Banco Santander, reducing its debt exposure by 25%. This move comes amid improved operations at the Barruecopardo mine, leading to record production levels and a positive EBITDA. The company is in discussions to extend remaining debt facilities beyond 2025, reflecting its strategic positioning in the critical raw materials market, especially as tungsten prices rise due to China’s export restrictions.
More about EQ Resources Limited
EQ Resources Limited is a leading global tungsten mining company focused on sustainable mining and processing practices. Listed on the Australian Securities Exchange, the company aims to expand its tungsten assets at Mt Carbine in Australia and Barruecopardo in Spain. It utilizes advanced minerals processing technology to become a top supplier of tungsten, a critical mineral, while exploring new opportunities in the critical minerals sector globally.
Average Trading Volume: 1,657,570
Technical Sentiment Signal: Sell
Current Market Cap: A$93.7M
For a thorough assessment of EQR stock, go to TipRanks’ Stock Analysis page.