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EQ Resources Limited ( (AU:EQR) ) has shared an update.
EQ Resources Limited has successfully raised $22.5 million through an institutional placement, issuing 703.125 million new shares at $0.032 each. The funds will be used to enhance production and growth initiatives at the Mt Carbine site, manage creditors, improve debt positions, and cover placement costs. This capital injection comes at a time when tungsten prices are at record highs, positioning the company to further develop its operations and strengthen its financial standing.
More about EQ Resources Limited
EQ Resources Limited is a global tungsten producer with mining operations in Australia and Spain, focusing on the extraction and production of tungsten, a critical mineral used in various industrial applications.
Average Trading Volume: 3,642,949
Technical Sentiment Signal: Sell
Current Market Cap: A$126.8M
Find detailed analytics on EQR stock on TipRanks’ Stock Analysis page.