EQ Resources (ASX:EQR) agreed to acquire Tungsten Metals Group and a 40% stake in Asia Tungsten Products for an enterprise value of AU$13.5 million, according to a Monday filing with the Australian bourse.
The combined entities, referred to as the Tungsten Metals Group, own and operate a ferrotungsten plant in Haiphong Province, Vietnam, the filing said. The plant has an annual production capacity of 4,000 tonnes.
Upon completion of the transaction, EQR will issue about 170 million shares, pay AU$2.5 million in cash, and assume TMG Group's debt.
Due diligence is expected to be completed and definite agreements finalized by Dec. 20, the filing said. The agreement is expected to be completed in the first half of 2025.
The company's shares rose almost 7% in recent Monday trade and earlier hit a new 52-week high.
Price (AUD): $0.05, Change: $+0.003, Percent Change: +6.52%
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。