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2026-11-06
◂ Monitor EQR ASX

EQ Resources Limited

Producer · Tungsten · ES · AU Rating locked: sign in to view v8.1 · eqr-20261031t172752-full
Last 2026-11-06
A$0.28
1D
—
1M
—
YTD
—
1Y
—
Upside
Locked: sign in to view
Mkt cap
A$1.5B
EV
A$1.4B
Cash
A$82.4M
Debt
A$29.6M
1 newer ASX announcement not yet reflected in this valuation

Portfolio detail

Assets

2 assets

Core asset

Barruecopardo tungsten mine (Saloro S.L.U.)

ES

Producer100% ownedTungsten

Producing open-pit scheelite mine with ore sorting and gravity plant; high-grade southern pit re-accessed 4 July 2026 after a 1-in-50-year flood; record 34,088 mtu quarter (Q1 FY2027).

Producer · Producer
Production annualised (attributable)
1.4k td
Production (last FY, 100%)
907 td
AISC (latest quarter)
—
AISC margin at spot
—
Delivery vs guidance
—
Reserve life
17.8 yrsd
Head grade
0.24% WO3
Resources & reserves7
TypeCategoryQuantityGradeContained mineralsDate
Mineral ResourceMeasured6.8 Mt0.177% WO3, 1,214,272 mtuTungsten2026-06-30
Mineral ResourceIndicated9.5 Mt0.177% WO3, 1,682,554 mtuTungsten2026-06-30
Mineral ResourceInferred3.8 Mt0.259% WO3, 997,546 mtuTungsten2026-06-30
Mineral ResourceTotal20.2 Mt0.193% WO3, 3,894,372 mtuTungsten2026-06-30
Ore ReserveProved (open cut)2.4 Mt0.14% WO3, 329,842 mtuTungsten2026-06-30
Ore ReserveProbable (open cut)9.2 Mt0.14% WO3, 1,254,807 mtuTungsten2026-06-30
Ore ReserveTotal ore reserve incl. stockpiles12.2 Mt0.13% WO3, 1,617,504 mtuTungsten2026-06-30
Tenements2
bcp-ce-6432-10Granted2,100 ha · 2041-11-01
bcp-permitsGranted— None · No expiry supplied
Milestones2
  1. Barruecopardo resource and reserve update after the 12,200 m drill programme

    Pending · High materiality

  2. Phase 7 pit works started September 2026 and ROM stockpile built ahead of the wet season

    Pending · Medium materiality

Permits & approvals1
PermitJurisdictionStatusExpiryCritical path
Restoration mining plan compliance (Barruecopardo)Salamanca, Spain (Territorial Service of Industry, Commerce and Economy)Pending—Yes

Core asset

Mt Carbine tungsten mine and low-grade stockpile

AU

Ramping Producer100% ownedTungsten

Open-pit scheelite mine redeveloped since 2019; Iolanthe high-grade vein accessed from March 2026; A$39m crushing expansion (1 to 2 Mtpa) under construction for Q3 FY2027 commissioning.

Producer · Ramping producer
Production annualised (attributable)
686 td
Production (last FY, 100%)
283 td
AISC (latest quarter)
—
AISC margin at spot
—
Delivery vs guidance
—
Reserve life
75.0 yrsd
Head grade
0.29% WO3
Resources & reserves7
TypeCategoryQuantityGradeContained mineralsDate
Mineral ResourceIn-situ Indicated17.3 Mt0.280% WO3, 4,935,823 mtuTungsten2026-06-30
Mineral ResourceIn-situ Inferred10.6 Mt0.300% WO3, 3,201,048 mtuTungsten2026-06-30
Mineral ResourceLow-grade stockpile (Indicated 9.38 Mt, Inferred 3.42 Mt)12.8 Mt0.070% WO3, 924,559 mtuTungsten2026-06-30
Mineral ResourceTotal40.8 Mt0.220% WO3, 9,061,430 mtuTungsten2026-06-30
Ore ReserveProbable (open cut)4.5 Mt0.32% WO3, 1,417,202 mtuTungsten2026-06-30
Ore ReserveProbable (low-grade stockpile)9.4 Mt0.08% WO3, 703,546 mtuTungsten2026-06-30
Ore ReserveTotal ore reserve13.8 Mt0.15% WO3, 2,120,748 mtuTungsten2026-06-30
Tenements4
mtc-ml4867Granted358.5 ha · 2041-07-31
mtc-ml4919Granted7.89 ha · 2041-08-31
mtc-ml20728Granted42.46 ha · 2030-06-30
mtc-regionalGranted1,136 km2 · No expiry supplied
Milestones3
  1. Mt Carbine 2 Mtpa crushing expansion commissioning

    Pending · High materiality

  2. Mt Carbine resource and reserve update after 17,233 m drilling

    Pending · High materiality

  3. Wolfram Camp drilling and resource update

    Pending · Medium materiality

Permits & approvals1
PermitJurisdictionStatusExpiryCritical path
Additional water rights securedQueensland, AustraliaGranted—No

d derivedr our researchg guidances study forecastm daily marketNo marker: as reported— / NM missing or not meaningful (hover for why)