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EQ Resources Limited (AU:EQR)
ASX:EQR
Australian Market

EQ Resources Limited (EQR) AI Stock Analysis

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AU:EQR

EQ Resources Limited

(Sydney:EQR)

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Neutral 43 (OpenAI - 5.2)
Rating:43Neutral
Price Target:
AU$0.18
▲(128.75% Upside)
The score is held down primarily by weak financial performance—ongoing losses, negative margins, negative operating/free cash flow, and rising leverage. Technicals are supportive of a strong uptrend, but overbought momentum signals increase near-term reversal risk. Valuation is also constrained by the negative P/E and lack of dividend yield data.
Positive Factors
Revenue Growth
Sustained, material revenue growth demonstrates meaningful production scaling or stronger offtake execution at Mt Carbine. Over a 2-6 month horizon this underpins higher operating leverage potential and validates demand for the company’s concentrate as it pursues profitability.
Existing Producing Asset
Owning and operating the Mt Carbine production and processing asset reduces commissioning and execution risk versus greenfield projects. A live mine/process stream provides a durable platform for incremental volume growth, margin improvement and revenue visibility over months.
Offtake/Sales Contracts
A sales model based on offtake contracts and benchmark-linked pricing creates more predictable cash generation than pure spot exposure. Contracted sales smooth revenue timing and support planning for operational and capital needs across coming quarters.
Negative Factors
Profitability Pressure
Persistent negative gross and net margins signal structural cost or recovery issues in mining/processing that erode the firm’s ability to convert revenue into sustainable profits. Without margin remediation, reliance on external funding remains likely over the medium term.
Negative Cash Flow
Ongoing negative operating and free cash flows indicate the business is not self-funding its operations or capex. This raises refinancing and liquidity risk, constrains reinvestment, and increases sensitivity to commodity or operational setbacks in the coming months.
Rising Leverage
An increasing debt burden and negative ROE reduce financial flexibility and amplify solvency risk. Higher leverage raises interest and covenant pressure, limiting the company’s ability to invest or weather production interruptions without dilutive or costly financing.

EQ Resources Limited (EQR) vs. iShares MSCI Australia ETF (EWA)

EQ Resources Limited Business Overview & Revenue Model

Company DescriptionEQ Resources Limited explores for and produces tungsten, gold, and other mineral resources in Australia. Its flagship property is the Mt Carbine project comprising ML 4867 covering an area of 358.5 hectares and ML 4919 covering an area of 7.891 hectares located in Far North Queensland. The company was formerly known as Speciality Metals International Limited and changed its name to EQ Resources Limited in December 2020. EQ Resources Limited was incorporated in 2005 and is headquartered in Melbourne, Australia.
How the Company Makes MoneyEQ Resources Limited generates revenue primarily through the sale of tungsten concentrate extracted from its mining operations. The company has established a revenue model that includes the extraction and processing of tungsten ore, which is then sold to various industrial clients and distributors. Key revenue streams include direct sales contracts with manufacturers and trading companies that require tungsten for their production processes. Additionally, EQR may benefit from strategic partnerships with other mining firms, suppliers, and industry stakeholders, enhancing its market reach and operational efficiency. Fluctuations in tungsten prices and demand from industries reliant on this mineral also significantly influence the company’s earnings.

EQ Resources Limited Financial Statement Overview

Summary
Despite strong latest-year revenue growth (74.5%), profitability is weak with negative gross, EBIT/EBITDA, and net margins. Balance sheet risk is elevated due to rising leverage and negative ROE, while cash flow is pressured by negative operating and free cash flow.
Income Statement
40
Negative
EQ Resources Limited shows significant revenue growth, particularly in the latest year with a 74.5% increase. However, the company struggles with profitability, evidenced by negative gross profit and net profit margins. The EBIT and EBITDA margins are also negative, indicating operational inefficiencies.
Balance Sheet
35
Negative
The company has a high debt-to-equity ratio, which has increased over the years, indicating rising leverage. Return on equity is negative, reflecting ongoing losses. The equity ratio is relatively stable, but the increasing debt levels pose a risk to financial stability.
Cash Flow
30
Negative
Cash flow analysis reveals negative operating and free cash flows, with a declining free cash flow growth rate. The ratios of operating and free cash flow to net income are unfavorable, suggesting cash flow challenges in covering net losses.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue48.91M66.33M26.48M5.04M4.01M4.52M
Gross Profit-6.38M-3.57M-11.32M-7.17M-5.41M-4.03M
EBITDA-13.18M-19.65M-19.49M-3.11M-5.98M-4.56M
Net Income-27.46M-39.31M-28.26M-3.72M-6.06M-4.58M
Balance Sheet
Total Assets189.27M189.27M166.29M55.15M31.28M25.75M
Cash, Cash Equivalents and Short-Term Investments1.87M1.87M3.49M6.15M1.72M3.50M
Total Debt64.77M64.77M45.72M7.23M6.53M949.31K
Total Liabilities152.98M152.98M109.66M38.84M16.96M9.02M
Stockholders Equity36.29M36.29M56.63M16.30M14.32M16.73M
Cash Flow
Free Cash Flow-19.20M-19.20M-27.24M-8.77M-9.56M-5.87M
Operating Cash Flow-16.92M-16.92M-12.70M-1.39M-3.11M-3.82M
Investing Cash Flow-11.38M-11.38M-18.90M-10.96M-6.44M-2.03M
Financing Cash Flow26.76M26.76M21.56M16.01M7.79M6.39M

EQ Resources Limited Technical Analysis

Technical Analysis Sentiment
Positive
Last Price0.08
Price Trends
50DMA
0.09
Positive
100DMA
0.06
Positive
200DMA
0.05
Positive
Market Momentum
MACD
0.03
Negative
RSI
86.17
Negative
STOCH
94.74
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:EQR, the sentiment is Positive. The current price of 0.08 is below the 20-day moving average (MA) of 0.12, below the 50-day MA of 0.09, and above the 200-day MA of 0.05, indicating a bullish trend. The MACD of 0.03 indicates Negative momentum. The RSI at 86.17 is Negative, neither overbought nor oversold. The STOCH value of 94.74 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:EQR.

EQ Resources Limited Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
63
Neutral
AU$236.60M127.141.08%
61
Neutral
$10.43B7.12-0.05%2.87%2.86%-36.73%
51
Neutral
AU$98.78M-3.77-18.67%53.31%
49
Neutral
AU$335.22M-33.33-27.95%-43.08%
44
Neutral
AU$160.47M-32.50-39.06%25.00%
43
Neutral
AU$897.87M-11.82-84.61%149.43%1.20%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:EQR
EQ Resources Limited
0.20
0.17
596.43%
AU:BSX
Blackstone Minerals Ltd
0.06
0.03
110.34%
AU:RNU
Renascor Resources Limited
0.09
0.03
61.82%
AU:TGN
Tungsten Mining NL
0.31
0.22
252.27%
AU:ZEO
Zeotech Limited
0.08
0.03
56.00%

EQ Resources Limited Corporate Events

EQ Resources Issues Over 15.5 Million New Shares via Option Exercise
Jan 29, 2026

EQ Resources Limited has issued 15,532,431 fully paid ordinary shares following the exercise of options, with tranches priced at 5.2 cents and 6.75 cents per share, and has confirmed that the issuance was conducted without a prospectus under relevant provisions of the Corporations Act. The company stated it is fully compliant with its continuous disclosure and reporting obligations and that there is no undisclosed price-sensitive information related to this share issue, signalling regulatory transparency and providing assurance to investors regarding the integrity of the capital raising process.

The most recent analyst rating on (AU:EQR) stock is a Hold with a A$0.17 price target. To see the full list of analyst forecasts on EQ Resources Limited stock, see the AU:EQR Stock Forecast page.

EQ Resources Seeks ASX Quotation for 15.5 Million New Shares
Jan 29, 2026

EQ Resources Limited has applied to the ASX for quotation of 15,532,431 new ordinary fully paid shares under its issuer code EQR. The additional securities, issued on 28 January 2026 following the exercise or conversion of existing options or other convertible securities, will increase the company’s quoted share capital and may provide additional liquidity for shareholders while modestly diluting existing holdings.

The most recent analyst rating on (AU:EQR) stock is a Hold with a A$0.17 price target. To see the full list of analyst forecasts on EQ Resources Limited stock, see the AU:EQR Stock Forecast page.

EQ Resources Schedules Investor Webinar to Outline Tungsten Operations Outlook
Jan 28, 2026

EQ Resources Limited has invited shareholders and investors to a webinar on 2 February 2026, where its managing director and chief financial officer will brief the market on December quarter performance and provide a 2026 outlook for its Australian and Spanish tungsten operations. The update will cover the global tungsten market, production progress and future plans at Barruecopardo and Mt Carbine, as well as balance sheet strength, cash generation and financial performance, signalling the company’s intention to engage more closely with stakeholders and highlight its operational momentum and financial position across key assets.

The most recent analyst rating on (AU:EQR) stock is a Hold with a A$0.15 price target. To see the full list of analyst forecasts on EQ Resources Limited stock, see the AU:EQR Stock Forecast page.

EQ Resources Issues New Shares on Option Exercise Under Corporations Act Exemption
Jan 26, 2026

EQ Resources has issued 299,333 fully paid ordinary shares at an issue price of $0.0675 per share following the exercise of options, and has confirmed that these shares were issued without a prospectus in accordance with relevant exemptions under the Corporations Act. The company stated it is in compliance with its continuous disclosure and financial reporting obligations and that there is no undisclosed price-sensitive information, signalling regulatory transparency around the small equity issuance while it continues to pursue growth in its tungsten operations and broader critical minerals strategy.

The most recent analyst rating on (AU:EQR) stock is a Hold with a A$0.15 price target. To see the full list of analyst forecasts on EQ Resources Limited stock, see the AU:EQR Stock Forecast page.

EQ Resources Seeks ASX Quotation for 299,333 Newly Issued Shares
Jan 26, 2026

EQ Resources Limited has applied to the Australian Securities Exchange for quotation of 299,333 new ordinary fully paid shares (ASX code: EQR), issued on 23 January 2026. The additional shares arise from the exercise or conversion of existing options or other convertible securities, marginally increasing the company’s free float and share capital, and reflecting ongoing utilisation of its equity-based instruments by investors or holders of convertible securities.

The most recent analyst rating on (AU:EQR) stock is a Hold with a A$0.15 price target. To see the full list of analyst forecasts on EQ Resources Limited stock, see the AU:EQR Stock Forecast page.

EQ Resources Seeks ASX Quotation for 4.25 Million New Shares
Jan 22, 2026

EQ Resources Limited has applied to the ASX for quotation of 4,248,919 new fully paid ordinary shares, following the exercise or conversion of existing options or other convertible securities. The additional shares, issued on 22 January 2026 under the company’s ticker EQR, will expand the total number of quoted securities on issue, modestly increasing the company’s free float and potentially improving liquidity for shareholders.

The most recent analyst rating on (AU:EQR) stock is a Hold with a A$0.13 price target. To see the full list of analyst forecasts on EQ Resources Limited stock, see the AU:EQR Stock Forecast page.

EQ Resources Issues New Shares via Option Exercise, Confirms Regulatory Compliance
Jan 22, 2026

EQ Resources Limited has issued 1,090,000 new fully paid ordinary shares at $0.0675 each following the exercise of options, and has confirmed that the shares were issued without a disclosure document under the Corporations Act’s capital raising provisions. In lodging a cleansing notice, the company stated it is compliant with its financial reporting and continuous disclosure obligations and that there is no undisclosed price-sensitive information, a step that facilitates secondary trading of the new shares and underscores regulatory compliance as EQ Resources continues to advance its tungsten-focused growth strategy.

The most recent analyst rating on (AU:EQR) stock is a Sell with a A$0.11 price target. To see the full list of analyst forecasts on EQ Resources Limited stock, see the AU:EQR Stock Forecast page.

EQ Resources Seeks ASX Quotation for 1.09 Million New Shares
Jan 22, 2026

EQ Resources Limited has applied to the ASX for quotation of 1,090,000 new fully paid ordinary shares, following the exercise or conversion of existing options or other convertible securities. The additional shares, issued on 21 January 2026, modestly expand the company’s equity base and increase the pool of tradable securities, potentially improving liquidity for investors and reflecting ongoing equity-based activity within the company’s capital structure.

The most recent analyst rating on (AU:EQR) stock is a Sell with a A$0.11 price target. To see the full list of analyst forecasts on EQ Resources Limited stock, see the AU:EQR Stock Forecast page.

EQ Resources Options Lapse, Trimming Potential Future Dilution
Jan 21, 2026

EQ Resources Limited has announced that 28.5 million listed options (ASX code EQRAA), each exercisable at A$0.10 and expiring on 18 January 2026, have lapsed unexercised. The expiry of these options without conversion modestly reduces the company’s potential future share dilution, simplifying its capital structure but also eliminating a source of potential future equity funding for the company and its investors.

The most recent analyst rating on (AU:EQR) stock is a Sell with a A$0.10 price target. To see the full list of analyst forecasts on EQ Resources Limited stock, see the AU:EQR Stock Forecast page.

EQ Resources Issues 49.6 Million New Shares Following Option Exercises
Jan 20, 2026

EQ Resources Limited has issued 49,603,704 new fully paid ordinary shares following the exercise of options, with the bulk of the shares priced at $0.10 and a smaller tranche at $0.0675. The issuance, conducted without a prospectus under the Corporations Act disclosure exemptions, is supported by the company’s confirmation that it is up to date with its financial reporting and continuous disclosure obligations and that there is no undisclosed price-sensitive information, effectively cleansing the new shares for secondary trading and reinforcing regulatory compliance for investors.

The most recent analyst rating on (AU:EQR) stock is a Sell with a A$0.10 price target. To see the full list of analyst forecasts on EQ Resources Limited stock, see the AU:EQR Stock Forecast page.

EQ Resources Seeks ASX Quotation for Nearly 50 Million New Shares
Jan 20, 2026

EQ Resources Limited has applied to the ASX for quotation of 49,603,704 new fully paid ordinary shares, which will trade under the code EQR. The securities, issued on 20 January 2026, arise from the exercise or conversion of existing options or other convertible securities, expanding the company’s quoted share base and potentially affecting its capital structure and liquidity for investors.

The most recent analyst rating on (AU:EQR) stock is a Sell with a A$0.10 price target. To see the full list of analyst forecasts on EQ Resources Limited stock, see the AU:EQR Stock Forecast page.

EQ Resources Delivers Record Tungsten Output and Resets Balance Sheet on Back of Price Surge
Jan 20, 2026

EQ Resources reported a strong December quarter, driven by surging tungsten prices and record operational performance at its Barruecopardo and Mt Carbine mines. Global tungsten market tightness continued, with ammonium paratungstate prices nearly 50% higher quarter-on-quarter and Chinese prices remaining above European levels, underscoring a structural supply deficit. Barruecopardo delivered record mining, crushing and sorting volumes and its second-highest quarterly concentrate output of 32,408 mtu, generating about A$14 million in free operating cash flow and supporting higher realised prices and lower unit costs across the group. At Mt Carbine, record blasting and mining advanced the South Wall cutback and ramp development, keeping the operation on track to access the higher-grade Iolanthe vein in the next quarter, a key step for future production and margins. The company also strengthened its balance sheet through a A$34 million equity raising and the planned conversion of pre-royalty debt to equity, while refinancing and reducing Spanish debt, cutting current liabilities by A$24.45 million. Group operating cash flow turned positive at A$1.15 million, cash receipts from sales rose 49% to A$21.8 million, and EQ Resources ended the quarter with A$22 million in cash and additional undrawn facilities, positioning the company to fund growth projects and improve financial resilience.

The most recent analyst rating on (AU:EQR) stock is a Sell with a A$0.10 price target. To see the full list of analyst forecasts on EQ Resources Limited stock, see the AU:EQR Stock Forecast page.

EQ Resources Issues New Shares on Option Exercise, Confirms Regulatory Compliance
Jan 18, 2026

EQ Resources Limited has issued 2,111,112 fully paid ordinary shares following the exercise of options at an issue price of A$0.0675 per share, confirming that the new shares were issued without a prospectus under the Corporations Act’s disclosure exemptions. The company stated it remains in compliance with its continuous disclosure and financial reporting obligations and declared there is no undisclosed price-sensitive information, a move that facilitates secondary trading of the new shares and underscores its adherence to regulatory requirements as it pursues growth in the critical minerals space.

The most recent analyst rating on (AU:EQR) stock is a Sell with a A$0.10 price target. To see the full list of analyst forecasts on EQ Resources Limited stock, see the AU:EQR Stock Forecast page.

EQ Resources Seeks ASX Quotation for 2.1 Million New Shares
Jan 18, 2026

EQ Resources Limited has applied to the ASX for quotation of 2,111,112 new fully paid ordinary shares, listed under the code EQR. The new securities, issued on 16 January 2026 following the exercise or conversion of existing options or convertible securities, will expand the company’s quoted share capital, modestly increasing liquidity and potentially broadening its shareholder base once admitted to trading.

The most recent analyst rating on (AU:EQR) stock is a Sell with a A$0.10 price target. To see the full list of analyst forecasts on EQ Resources Limited stock, see the AU:EQR Stock Forecast page.

EQ Resources Issues Over 38 Million New Shares on Option Exercise
Jan 14, 2026

EQ Resources Limited has issued 38,268,686 new fully paid ordinary shares following the exercise of options at prices of 4.88 cents and 6.75 cents per share, with the issuance completed without a disclosure document under the Corporations Act’s fundraising provisions. In conjunction with this share issue, the company confirmed its ongoing compliance with key financial reporting and continuous disclosure obligations and stated that there is no undisclosed materially price-sensitive information, a move that supports transparency for investors while modestly expanding its capital base for ongoing operations and growth initiatives in its tungsten portfolio.

The most recent analyst rating on (AU:EQR) stock is a Hold with a A$0.11 price target. To see the full list of analyst forecasts on EQ Resources Limited stock, see the AU:EQR Stock Forecast page.

EQ Resources Seeks ASX Quotation for 38 Million New Shares
Jan 14, 2026

EQ Resources Limited has applied to list 38,268,686 new fully paid ordinary shares on the ASX, following the exercise of options or conversion of other securities. The additional quotation, effective from 14 January 2026, expands the company’s issued capital base and may enhance liquidity in its stock, although the announcement provides no further detail on the purpose or strategic context of the new shares.

The most recent analyst rating on (AU:EQR) stock is a Hold with a A$0.11 price target. To see the full list of analyst forecasts on EQ Resources Limited stock, see the AU:EQR Stock Forecast page.

EQ Resources Issues New Shares from Option Exercise and Confirms Compliance
Jan 13, 2026

EQ Resources Limited has issued 763,000 new fully paid ordinary shares following the exercise of options at an issue price of $0.0675 per share, and has provided a cleansing notice under Section 708A of the Corporations Act to confirm the shares were issued without a prospectus. The company stated it is fully compliant with its continuous disclosure and reporting obligations and that there is no undisclosed price-sensitive information, clearing the way for these new shares to be freely tradable and reinforcing transparency for existing and new investors.

The most recent analyst rating on (AU:EQR) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on EQ Resources Limited stock, see the AU:EQR Stock Forecast page.

EQ Resources Seeks ASX Quotation for 763,000 New Ordinary Shares
Jan 13, 2026

EQ Resources Limited has applied for quotation on the ASX of 763,000 new ordinary fully paid shares, following the exercise or conversion of existing options or other convertible securities. The modest increase in quoted capital, effective from 13 January 2026, reflects ongoing capital structuring activity but does not indicate any broader strategic shift, with limited immediate operational or industry implications disclosed for existing shareholders or other stakeholders.

The most recent analyst rating on (AU:EQR) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on EQ Resources Limited stock, see the AU:EQR Stock Forecast page.

EQ Resources Issues New Shares Following Option Exercise and Confirms Regulatory Compliance
Jan 11, 2026

EQ Resources Limited has issued 1,125,000 fully paid ordinary shares at $0.0675 each following the exercise of options, and has confirmed that these shares were issued without a prospectus in reliance on provisions of the Corporations Act. The company attested to its compliance with continuous disclosure and financial reporting obligations and stated that there is no undisclosed price-sensitive information, a step that supports secondary trading of the new shares and underscores regulatory compliance as it continues to develop its global tungsten operations.

The most recent analyst rating on (AU:EQR) stock is a Hold with a A$0.09 price target. To see the full list of analyst forecasts on EQ Resources Limited stock, see the AU:EQR Stock Forecast page.

EQ Resources Seeks ASX Quotation for 1.1 Million New Shares
Jan 11, 2026

EQ Resources Limited has applied to the ASX for quotation of 1,125,000 new ordinary fully paid shares, following the exercise or conversion of existing options or other convertible securities. The issuance, dated 9 January 2026, modestly increases the company’s quoted share capital and reflects ongoing utilisation of equity-based instruments, with potential implications for shareholder dilution and the company’s capital structure.

The most recent analyst rating on (AU:EQR) stock is a Hold with a A$0.09 price target. To see the full list of analyst forecasts on EQ Resources Limited stock, see the AU:EQR Stock Forecast page.

EQ Resources Issues Over 8.4 Million New Shares Through Option Exercises
Jan 8, 2026

EQ Resources has issued 8,416,161 new fully paid ordinary shares following the exercise of options, with tranches priced at 4.88 cents and 6.75 cents per share. The company has confirmed that the issuance was conducted without a prospectus under the Corporations Act, that it remains compliant with key financial reporting and continuous disclosure obligations, and that there is no undisclosed material information, providing reassurance to investors about its governance and regulatory standing.

The most recent analyst rating on (AU:EQR) stock is a Hold with a A$0.09 price target. To see the full list of analyst forecasts on EQ Resources Limited stock, see the AU:EQR Stock Forecast page.

EQ Resources Seeks ASX Quotation for 8.4 Million New Shares
Jan 8, 2026

EQ Resources Limited has applied to the ASX for quotation of 8,416,161 new fully paid ordinary shares under its existing ticker EQR. The additional shares, issued on 8 January 2026, arise from the exercise or conversion of existing options or other convertible securities, modestly increasing the company’s quoted capital base and potentially enhancing liquidity for shareholders.

The most recent analyst rating on (AU:EQR) stock is a Hold with a A$0.09 price target. To see the full list of analyst forecasts on EQ Resources Limited stock, see the AU:EQR Stock Forecast page.

EQ Resources Issues New Shares via Option Exercise and Confirms Regulatory Compliance
Jan 8, 2026

EQ Resources Limited has issued 4,460,650 fully paid ordinary shares upon the exercise of options, at prices of $0.065 and $0.0675 per share, and has lodged the required cleansing notice confirming these shares were issued without a prospectus under relevant Corporations Act provisions. The company states it is compliant with its continuous disclosure and reporting obligations and that there is no undisclosed price-sensitive information, a move that supports secondary trading liquidity for the new shares and signals ongoing operational and regulatory stability for investors.

The most recent analyst rating on (AU:EQR) stock is a Hold with a A$0.09 price target. To see the full list of analyst forecasts on EQ Resources Limited stock, see the AU:EQR Stock Forecast page.

EQ Resources Seeks ASX Quotation for 4.46 Million New Shares
Jan 8, 2026

EQ Resources Limited has applied to the ASX for quotation of 4,460,650 new fully paid ordinary shares, issued on 7 January 2026. The additional shares arise from the exercise or conversion of existing options or other convertible securities, modestly expanding the company’s listed capital base and potentially improving liquidity for investors, while signalling continued engagement with equity-based financing mechanisms.

The most recent analyst rating on (AU:EQR) stock is a Hold with a A$0.09 price target. To see the full list of analyst forecasts on EQ Resources Limited stock, see the AU:EQR Stock Forecast page.

EQ Resources Issues New Shares on Option Exercise and Lodges Cleansing Notice
Jan 5, 2026

EQ Resources Limited has issued 2,284,260 fully paid ordinary shares following the exercise of options at an issue price of $0.0675 per share and has lodged a cleansing notice under Section 708A of the Corporations Act to enable the shares to be traded without a disclosure document. The company confirmed it is in compliance with its continuous disclosure and financial reporting obligations and that there is no undisclosed price-sensitive information, a move that maintains transparency for investors while modestly expanding its capital base in support of its tungsten-focused growth strategy.

The most recent analyst rating on (AU:EQR) stock is a Hold with a A$0.08 price target. To see the full list of analyst forecasts on EQ Resources Limited stock, see the AU:EQR Stock Forecast page.

EQ Resources Seeks ASX Quotation for Over 2.2 Million New Shares
Jan 5, 2026

EQ Resources Limited has applied to the ASX for quotation of 2,284,260 new ordinary fully paid shares, with an issue date of 5 January 2026. The additional securities, arising from the exercise or conversion of existing instruments, will expand the company’s quoted share capital and may modestly increase liquidity for shareholders once trading in these new shares commences.

The most recent analyst rating on (AU:EQR) stock is a Hold with a A$0.08 price target. To see the full list of analyst forecasts on EQ Resources Limited stock, see the AU:EQR Stock Forecast page.

EQ Resources Lifts Tungsten Output 33% as Prices Hit Record Highs
Jan 5, 2026

EQ Resources reported a 33% quarter-on-quarter increase in tungsten production to 38,292 metric tonne units for the quarter ending 31 December 2025, underscoring operational momentum across its Australian and Spanish mining assets. The production uplift coincides with record tungsten prices, with benchmark ammonium paratungstate prices rising 42% over the quarter and continuing higher into early January 2026, a combination that is likely to significantly enhance revenue and reinforce the company’s position in the tight global tungsten market.

The most recent analyst rating on (AU:EQR) stock is a Hold with a A$0.08 price target. To see the full list of analyst forecasts on EQ Resources Limited stock, see the AU:EQR Stock Forecast page.

EQ Resources Director Consolidates Shareholding Through Off-Market Transfer
Dec 29, 2025

EQ Resources Limited has disclosed a change in director Oliver Kleinhempel’s relevant interests in the company’s securities, as required under ASX listing rules. Kleinhempel’s holding has been restructured via an off-market transfer of fully paid ordinary shares from his indirect holding through Sonnenallee Investments Limited into his direct holding, increasing his direct shareholding to 23,144,711 shares while his options position remains unchanged. The transaction involves no new shares being issued and no consideration paid, indicating a change in the form of ownership rather than in the overall economic interest, with no dilutionary impact on other shareholders but improving transparency around the director’s direct versus indirect exposure to the company.

The most recent analyst rating on (AU:EQR) stock is a Hold with a A$0.08 price target. To see the full list of analyst forecasts on EQ Resources Limited stock, see the AU:EQR Stock Forecast page.

EQ Resources Issues 15 Million Shares on Option Exercise Under Cleansing Notice
Dec 24, 2025

EQ Resources Limited has issued 15 million fully paid ordinary shares following the exercise of an equivalent number of options at an issue price of A$0.0448 per share. The company confirmed the shares were issued without a disclosure document under the relevant Corporations Act provisions, that it remains compliant with its financial reporting and continuous disclosure obligations, and that there is no undisclosed price-sensitive information requiring release, effectively cleansing the new shares for trading and supporting its capital structure as it advances its tungsten projects.

The most recent analyst rating on (AU:EQR) stock is a Hold with a A$0.08 price target. To see the full list of analyst forecasts on EQ Resources Limited stock, see the AU:EQR Stock Forecast page.

EQ Resources Redeems 3.75 Million Convertible Notes, Trimming Debt Load
Dec 19, 2025

EQ Resources Limited has announced the cessation of 3,750,000 EQRAP convertible notes, which were repaid or redeemed without being converted into equity on 15 December 2025. The move reduces the company’s outstanding convertible debt, potentially simplifying its capital structure and altering the balance between debt and equity for existing stakeholders.

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.

EQ Resources Converts Debt to Equity with Major Share Issue
Dec 19, 2025

EQ Resources Limited has issued 131,868,132 fully paid ordinary shares to Cronimet Asia and 648,649 shares to senior adviser Andrew Goledzinowski through a debt-to-equity conversion and consultancy arrangement, respectively, at deemed issue prices between 3.5 and 3.7 cents per share. The new shares, issued without a prospectus under relevant Corporations Act provisions, reflect balance sheet strengthening via debt reduction and equity-based compensation while the company confirms ongoing compliance with its financial reporting and continuous disclosure obligations and the absence of undisclosed price-sensitive information.

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.

EQ Resources Converts Debt to Equity With 131.9 Million New Shares
Dec 19, 2025

EQ Resources Limited has applied to the Australian Securities Exchange for quotation of 131,868,132 new fully paid ordinary shares issued on 18 December 2025. The shares have been allotted to Cronimet Asia Pte Ltd under a previously announced agreement to convert debt into equity, a move that reduces the company’s debt burden while expanding its share base and potentially strengthening its balance sheet and strategic relationship with a key creditor.

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.

EQ Resources Seeks ASX Quotation for Shares Issued to Senior Advisor
Dec 19, 2025

EQ Resources Limited has applied to the ASX for quotation of 648,649 new ordinary fully paid shares issued on 18 December 2025 under a Senior Advisor Government Relations consultancy agreement in lieu of a cash payment. The move reflects the company’s use of equity-based compensation for advisory services, modestly expanding its share base and aligning the interests of strategic advisors with those of shareholders.

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.

EQ Resources Issues 670 Million Shares to Bolster Financial Position
Dec 15, 2025

EQ Resources Limited has issued 670 million fully paid ordinary shares at $0.05 each without disclosure to investors under specific provisions of the Corporations Act. This move is part of the company’s strategy to enhance its financial standing and support its ongoing projects, potentially impacting its market position and shareholder value positively.

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.

EQ Resources Clarifies Production Targets and Life-of-Mine Plans
Dec 11, 2025

EQ Resources Limited has clarified its production targets and life-of-mine plans for its Mt Carbine and Barruecopardo operations. The company emphasizes that its stated production targets are aspirational and not formal guidance under ASX rules. The Mt Carbine operation has a minimum 8-year life-of-mine plan based solely on ore reserves, while Barruecopardo has a minimum 9-year plan, both without reliance on unclassified mineral resources or exploration targets. These clarifications aim to provide transparency and align with ASX requirements, potentially impacting stakeholder expectations and strategic planning.

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.

EQ Resources Limited Announces Director’s Interest Change
Dec 11, 2025

EQ Resources Limited has announced a change in the interests of its director, Mr. Craig Richard Bradshaw. The company, which operates in the resources industry, focuses on extracting and processing mineral resources. The announcement details that Mr. Bradshaw has acquired 5,000,000 options exercisable at $0.05, following shareholder approval at the recent AGM. This change in director’s interest reflects a strategic move to align the interests of the company’s leadership with its long-term growth objectives.

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.

EQ Resources Limited Issues 5 Million Unquoted Equity Securities
Dec 10, 2025

EQ Resources Limited has announced the issuance of 5,000,000 unquoted equity securities in the form of options expiring on October 13, 2028, with an exercise price of $0.05. This issuance is part of an employee incentive scheme and is not intended to be quoted on the ASX. The move is likely aimed at incentivizing employees and aligning their interests with the company’s long-term growth objectives, potentially impacting the company’s operational strategies and stakeholder engagement.

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.

EQ Resources Secures €15 Million Prepayment Facility with Traxys
Dec 8, 2025

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.

EQ Resources Limited Announces Proposed Securities Issue
Dec 5, 2025

EQ Resources Limited has announced a proposed issue of 10 million ordinary fully paid securities, scheduled for issuance on January 30, 2026. This move is part of the company’s strategy to raise capital, potentially impacting its operational capacity and market position by enhancing its financial resources.

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.

EQ Resources Limited Announces Proposed Securities Issue
Dec 5, 2025

EQ Resources Limited has announced a proposed issue of 145 million ordinary fully paid securities, scheduled for January 30, 2026. This move is part of a placement or other type of issue, and the company has applied for the quotation of these securities on the ASX, which could potentially enhance its market presence and provide additional capital for its operations.

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.

EQ Resources Limited Announces Proposed Securities Issue
Dec 5, 2025

EQ Resources Limited has announced a proposed issue of 670,000,000 fully paid ordinary securities, with the issuance date set for December 12, 2025. This move is part of a placement or other type of issue, as per the ASX Listing Rules. The announcement signifies a strategic step for EQ Resources Limited, potentially impacting its market positioning and offering new opportunities for stakeholders.

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.

EQ Resources Secures $34 Million to Boost Tungsten Operations
Dec 5, 2025

EQ Resources Limited has successfully raised $34 million through a share placement to advance its Mt Carbine mine and strengthen its financial position. The funds will be used to access the high-grade Iolanthe Vein, reduce debt, and support working capital, positioning the company to capitalize on strong tungsten market conditions.

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.

EQ Resources Limited Initiates Trading Halt for Capital Raise Announcement
Dec 2, 2025

EQ Resources Limited has requested a trading halt on its securities on the Australian Securities Exchange pending a significant announcement related to a capital raise. This move is aimed at managing the company’s continuous disclosure obligations, with the halt expected to last until the announcement is made or normal trading resumes on December 5, 2025. The trading halt indicates a potentially impactful development for the company’s operations and its stakeholders.

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.

EQ Resources Limited Announces Successful AGM Resolutions
Nov 27, 2025

EQ Resources Limited announced the results of its Annual General Meeting held on November 27, 2025. All resolutions, including the adoption of the remuneration report, re-election of Mr. Stephen Layton, election of Mr. Craig Bradshaw, issuance of options to Mr. Bradshaw, and approval of a 10% placement facility, were carried with significant majority votes. These outcomes reflect strong shareholder support and are expected to positively impact the company’s governance and strategic growth initiatives.

The most recent analyst rating on (AU:EQR) stock is a Hold with a A$0.05 price target. To see the full list of analyst forecasts on EQ Resources Limited stock, see the AU:EQR Stock Forecast page.

EQ Resources Updates 2025 Annual Report with New Geological Insights
Nov 27, 2025

EQ Resources Limited has updated its Annual Report for 2025, reflecting new geological, metallurgical, and operational work at its Mt Carbine and Barruecopardo tungsten mines. The updates, based on studies by qualified professionals, confirm that all material assumptions and technical parameters remain current, ensuring the company’s continued focus on maintaining robust production targets and financial forecasts.

The most recent analyst rating on (AU:EQR) stock is a Hold with a A$0.05 price target. To see the full list of analyst forecasts on EQ Resources Limited stock, see the AU:EQR Stock Forecast page.

EQ Resources Ltd Advances Refinancing of Spanish Debt
Nov 27, 2025

EQ Resources Ltd, a prominent tungsten producer, is actively working on refinancing its €20 million Spanish debt, with €15 million due in December 2025 and €5 million in January 2026. The company has received term sheets for refinancing, including a repayment plan involving €3.5 million from available cash and new term facilities for the remaining balance. Discussions with Spanish lenders are progressing well, supported by Oaktree Capital Management’s Letters of Guarantee, ensuring continuity while new financing arrangements are finalized.

The most recent analyst rating on (AU:EQR) stock is a Hold with a A$0.05 price target. To see the full list of analyst forecasts on EQ Resources Limited stock, see the AU:EQR Stock Forecast page.

EQ Resources Expands with New Share Issuance
Nov 24, 2025

EQ Resources Limited has issued 132,879,398 fully paid ordinary shares at an issue price of $0.032 following shareholder approval. This move, compliant with the Corporations Act, aims to support the company’s growth in the tungsten mining sector, enhancing its position as a key player in the critical minerals market.

The most recent analyst rating on (AU:EQR) stock is a Buy 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.

EQ Resources Limited Announces Quotation of New Securities on ASX
Nov 24, 2025

EQ Resources Limited has announced the quotation of 132,879,398 fully paid ordinary securities on the Australian Securities Exchange (ASX) as of November 21, 2025. This move is part of previously announced transactions and is expected to enhance the company’s financial flexibility and market presence.

The most recent analyst rating on (AU:EQR) stock is a Buy 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.

EQ Resources to Host Webinar on Recent Milestones and Market Updates
Nov 17, 2025

EQ Resources Limited has announced a webinar scheduled for November 20, 2025, to update shareholders and investors on recent milestones at its Mt Carbine and Barruecopardo Tungsten Mines. The webinar will cover topics such as the global tungsten market, operations updates, exploration pipeline, debt refinancing, and governance. This announcement reflects the company’s ongoing efforts to enhance its operations and maintain its position as a leading tungsten supplier, potentially impacting its market presence and stakeholder interests.

The most recent analyst rating on (AU:EQR) stock is a Buy 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.

EQ Resources Issues New Shares to Bolster Tungsten Expansion
Nov 17, 2025

EQ Resources Limited has issued 766,461 fully paid ordinary shares at a price of $0.036 each without disclosure to investors, as permitted under the Corporations Act. This move aligns with the company’s compliance with relevant legal provisions and supports its strategic focus on expanding its tungsten assets, enhancing its position in the critical minerals sector.

The most recent analyst rating on (AU:EQR) stock is a Buy 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.

EQ Resources Limited Announces Quotation of New Securities
Nov 17, 2025

EQ Resources Limited has announced the application for the quotation of 766,461 ordinary fully paid securities on the ASX, issued as consideration for a consultancy agreement. This move is part of the company’s strategy to optimize its financial operations and enhance its market presence, potentially impacting its stakeholders by increasing liquidity and market capitalization.

The most recent analyst rating on (AU:EQR) stock is a Buy 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.

EQ Resources Limited Announces Cessation of Securities
Nov 10, 2025

EQ Resources Limited announced the cessation of 19,451,674 securities due to the expiry of options or other convertible securities without exercise or conversion as of November 7, 2025. This development may impact the company’s capital structure and could have implications for its financial strategy and stakeholder interests.

The most recent analyst rating on (AU:EQR) stock is a Buy 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.

EQ Resources Issues Unquoted Equity Securities
Nov 5, 2025

EQ Resources Limited has announced the issuance of unquoted equity securities, specifically options expiring in November 2028, as part of a previously announced transaction. This move reflects the company’s ongoing strategic financial maneuvers, potentially impacting its market positioning and offering implications for stakeholders regarding future growth and investment opportunities.

The most recent analyst rating on (AU:EQR) stock is a Buy 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.

EQ Resources Sets New Production Record at Barruecopardo Mine
Nov 3, 2025

EQ Resources Limited announced a record monthly production at its Barruecopardo Mine in October 2025, achieving 12,006 mtu of contained WO3, surpassing the previous record set in November 2024. This achievement reflects successful equipment upgrades and operational enhancements since acquiring the mine in January 2024, highlighting the company’s commitment to continuous improvement and innovation in tungsten processing. The record production underscores EQ Resources’ strong position in the global tungsten industry and its dedication to enhancing recovery and throughput, benefiting stakeholders and reinforcing its market leadership.

The most recent analyst rating on (AU:EQR) stock is a Buy 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.

EQ Resources Gains Shareholder Approval for Strategic Resolutions
Oct 31, 2025

EQ Resources Limited held an Extraordinary General Meeting where shareholders approved several key resolutions. These included the issuance of placement shares to Oaktree Capital Management and the issuance of options to lead managers. The resolutions were overwhelmingly supported, indicating strong shareholder confidence in the company’s strategic direction.

The most recent analyst rating on (AU:EQR) stock is a Buy 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.

EQ Resources Reports Strong Q3 2025 Performance Amid Tungsten Market Surge
Oct 31, 2025

EQ Resources Limited reported a robust quarter ending September 30, 2025, with significant achievements in its tungsten operations. The company saw a 33% increase in the price of Ammonium Paratungstate, driven by strong demand and China’s record imports of tungsten concentrates. Operational highlights include enhanced processing performance at Barruecopardo and ramped-up mining activities at Mt Carbine. Financially, EQ Resources strengthened its balance sheet with over A$30 million in new funding, including equity placements and a proposed royalty funding agreement with Oaktree. These developments underscore the company’s strategic growth and its alignment with governmental support for critical minerals, enhancing its market positioning and operational capacity.

The most recent analyst rating on (AU:EQR) stock is a Buy 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.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jan 29, 2026