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The latest update is out from EQ Resources Limited ( (AU:EQR) ).
EQ Resources Limited has entered into a binding term sheet with Traxys Europe S.A. for a €15 million prepayment facility, which will be repaid through monthly concentrate deliveries. This agreement includes a five-year offtake for 3,500 tonnes of WO3, valued at approximately A$400 million. The proceeds will be used to refinance existing debt of its subsidiary, Saloro S.L.U., thereby reducing its overall Spanish debt package and converting the balance into a three-year term debt facility. This strategic move strengthens EQR’s financial position and supports its operations at the Barruecopardo Mine, enhancing supply certainty for global customers.
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 a leading global tungsten mining company focused on sustainable mining and processing practices. It is listed on the Australian Securities Exchange and aims to expand its tungsten assets in North Queensland, Australia, and Salamanca Province, Spain. The company leverages advanced minerals processing technology to become a leading supplier of tungsten, a critical mineral, while exploring new opportunities in the critical minerals sector globally.
Average Trading Volume: 18,554,643
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$235.3M
For a thorough assessment of EQR stock, go to TipRanks’ Stock Analysis page.