EQ Resources' Sales Jumps 142% Year Over Year, Shares Up 3%

MT Newswires Live

07/09

EQ Resources (ASX:EQR) said its production totalled 118,946 metric tonnes units of tungsten, down 29% year-over-year, and its sales totalled AU$160 million, jumping 142% year-over-year, for the year ending June 30, according to a Thursday Australian bourse filing

It produced 13,050 metric tonne units from its Mt Carbine project in Queensland during the June quarter, representing a 175% increase quarter-over-quarter, and the highest quarterly production since the first quarter of fiscal year 2024.

Around 1.1 million tonnes of material were moved for the June quarter, representing a 29% quarter-over-quarter increase, including a record 255,000 tonnes of ore mined as access to the Iolanthe Vein increases.

Production from its Barruecopardo project in Spain for the quarter totalled 15,265 metric tonne units, representing a 19% decrease quarter-over-quarter.

Its shares advanced 3% in recent trading on Thursday.

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