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EQ Resources Limited ( (AU:EQR) ) just unveiled an update.
EQ Resources Limited announced that its subsidiary, Saloro S.L.U, has secured a US$7.5 million royalty-based funding package from Oaktree Capital Management. This funding will support ongoing capital projects and strengthen the company’s balance sheet, enhancing tungsten concentrate output at the Barruecopardo Project in Spain. The move aligns with improved market conditions, as China’s tungsten export restrictions have led to significant price increases.
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, leveraging advanced minerals processing technology to become a globally leading supplier of tungsten.
Average Trading Volume: 3,260,290
Technical Sentiment Signal: Sell
Current Market Cap: A$108M
Learn more about EQR stock on TipRanks’ Stock Analysis page.