Price, volume & events
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- Last 2026-11-06
- A$0.28
- 1D
- —
- 1M
- —
- YTD
- —
- 1Y
- —
- Fair value
- Locked: sign in to view
- 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
- Webcast Invitation - EQ Resources UpdateLatest Four Activities Reports
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Sign in or enter a guest codeAnnouncements
Latest 12 of 31All sources ▸- Quarterly Activities Report and Appendix 5B - quarter ended 30 September 2026Results
- Notice of Annual General Meeting 2026Governance
- Change in substantial holding - Wonongarra / A. ForrestGovernance
- Appendix 2A - 3,730,123 shares (19 Oct 2026)Corporate Action
- Annual Report 2026 (year ended 30 June 2026)Results
- Appendix 2A - 6,768,515 shares (29 Sep 2026)Corporate Action
- Appendix 2A - 8,054,603 shares (23 Sep 2026)Corporate Action
- Date of 2026 AGMGovernance
- Appendix 2A - 4,024,492 shares (21 Sep 2026)Corporate Action
- Appendix 2A - 2,125,000 shares (17 Sep 2026)Corporate Action
- Appendix 2A - 2,504,376 shares (7 Sep 2026)Corporate Action
- Board appointments and governanceLeadership
Event calendar · next 12 months
9 events| Timing | Event | Category | Confidence | Materiality | Investor relevance |
|---|---|---|---|---|---|
| 25 November 2026 | 2026 Annual General Meeting | Governance | Confirmed | Medium | Vote on director elections, remuneration and option grants including the Managing Director grant at A$0.40. |
| March 2027 quarter (Q3 FY2027) | Mt Carbine expansion commissioning | Construction Or Commissioning | Company Guided | High | Doubling crushing to about 2 Mtpa lifts Mt Carbine throughput and unlocks low-grade stockpile production (about 500 t WO3 per year). |
| Q3 FY2027 | Mt Carbine resource and reserve update | Resource Or Reserve | Company Guided | High | Only 23% of the resource is in reserve; conversion drives mine life and the extension case in the valuation. |
| Late January 2027 | December 2026 quarterly report | Results | Inferred | High | First quarter with Barruecopardo high-grade pit fully mined and a full Iolanthe quarter; tests whether Q1 FY2027 cash cost and grade hold in the wet season. |
| By 31 March 2027 | Half-year financial report to 31 December 2026 | Results | Inferred | Medium | First half with full-price realisation; confirms tax charge, working capital and Regal royalty accounting. |
| Q4 FY2027 | Barruecopardo resource and reserve update | Resource Or Reserve | Company Guided | High | Updated model after 12,200 m of drilling; reserve depletion has cut life, so conversion matters for the 9-year plan. |
| Q4 FY2027 | Wolfram Camp resource update | Resource Or Reserve | Company Guided | Medium | First JORC work on a historic mine 60 km from Mt Carbine, the feed option for the hub-and-spoke plan. |
| Late July 2027 | June 2027 quarterly report and FY2028 guidance | Results | Inferred | High | Delivery against FY2027 guidance of 240,000-280,000 mtu and the first view of FY2028 volumes post expansion. |
| September 2027 | FY2027 annual report and reserve statements | Results | Inferred | Medium | Audited FY2027 results and 30 June 2027 resource and reserve statements. |
Executive roster
As of 2026-10-31Background checks ▸Annual Report 2026 names the Managing Director, CFO and General Counsel as key management personnel and the July 2026 investor presentation lists the operating leadership; other senior managers may not be disclosed.
| Executive | Title | Normalized role | Appointed | Sources |
|---|---|---|---|---|
| Craig Bradshaw | Managing Director | Executive Director · Chief Executive | 2025-10-01 | Annual Report 2026 (year ended 30 June 2026) · EQR appoints Craig Bradshaw as Managing Director |
| Jonathan Kort | Chief Financial Officer | Finance | 2025-06-01 | Annual Report 2026 (year ended 30 June 2026) · EQR Investor Presentation July 2026 |
| Virna Trout | General Counsel · Company Secretary | Company Secretary · Senior Management | 2026-07-23 | Annual Report 2026 (year ended 30 June 2026) · Appointment and resignation of company secretary |
| Kevin MacNeill | Head of Operational Excellence | Operations | — | EQR Investor Presentation July 2026 |
| Clinton Barnes | General Manager, Mt Carbine | Operations | — | EQR Investor Presentation July 2026 |
| Alvaro Serrano | Chief Executive Officer, Saloro | Senior Management | — | EQR Investor Presentation July 2026 |
| Evren Oeren | Chief Operating Officer, Saloro | Operations | — | EQR Investor Presentation July 2026 |
devCoverage status: Partial
Portfolio detail
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).
- 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
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | Measured | 6.8 Mt | 0.177% WO3, 1,214,272 mtu | Tungsten | 2026-06-30 |
| Mineral Resource | Indicated | 9.5 Mt | 0.177% WO3, 1,682,554 mtu | Tungsten | 2026-06-30 |
| Mineral Resource | Inferred | 3.8 Mt | 0.259% WO3, 997,546 mtu | Tungsten | 2026-06-30 |
| Mineral Resource | Total | 20.2 Mt | 0.193% WO3, 3,894,372 mtu | Tungsten | 2026-06-30 |
| Ore Reserve | Proved (open cut) | 2.4 Mt | 0.14% WO3, 329,842 mtu | Tungsten | 2026-06-30 |
| Ore Reserve | Probable (open cut) | 9.2 Mt | 0.14% WO3, 1,254,807 mtu | Tungsten | 2026-06-30 |
| Ore Reserve | Total ore reserve incl. stockpiles | 12.2 Mt | 0.13% WO3, 1,617,504 mtu | Tungsten | 2026-06-30 |
Tenements2
Milestones2
- Barruecopardo resource and reserve update after the 12,200 m drill programme
Pending · High materiality
- Phase 7 pit works started September 2026 and ROM stockpile built ahead of the wet season
Pending · Medium materiality
Permits & approvals1
| Permit | Jurisdiction | Status | Expiry | Critical 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.
- 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
| Type | Category | Quantity | Grade | Contained minerals | Date |
|---|---|---|---|---|---|
| Mineral Resource | In-situ Indicated | 17.3 Mt | 0.280% WO3, 4,935,823 mtu | Tungsten | 2026-06-30 |
| Mineral Resource | In-situ Inferred | 10.6 Mt | 0.300% WO3, 3,201,048 mtu | Tungsten | 2026-06-30 |
| Mineral Resource | Low-grade stockpile (Indicated 9.38 Mt, Inferred 3.42 Mt) | 12.8 Mt | 0.070% WO3, 924,559 mtu | Tungsten | 2026-06-30 |
| Mineral Resource | Total | 40.8 Mt | 0.220% WO3, 9,061,430 mtu | Tungsten | 2026-06-30 |
| Ore Reserve | Probable (open cut) | 4.5 Mt | 0.32% WO3, 1,417,202 mtu | Tungsten | 2026-06-30 |
| Ore Reserve | Probable (low-grade stockpile) | 9.4 Mt | 0.08% WO3, 703,546 mtu | Tungsten | 2026-06-30 |
| Ore Reserve | Total ore reserve | 13.8 Mt | 0.15% WO3, 2,120,748 mtu | Tungsten | 2026-06-30 |
Tenements4
Milestones3
- Mt Carbine 2 Mtpa crushing expansion commissioning
Pending · High materiality
- Mt Carbine resource and reserve update after 17,233 m drilling
Pending · High materiality
- Wolfram Camp drilling and resource update
Pending · Medium materiality
Permits & approvals1
| Permit | Jurisdiction | Status | Expiry | Critical path |
|---|---|---|---|---|
| Additional water rights secured | Queensland, Australia | Granted | — | No |
d derivedr our researchg guidances study forecastm daily marketNo marker: as reported— / NM missing or not meaningful (hover for why)
Funding, performance and ownership
Financials & Capital
Liquidity
Financial position
Cash of A$82.4m at 30 September 2026 against A$29.55m of drawn facilities (Traxys prepayment A$22.5m amortising to March 2029, Cronimet advance A$5.0m, Cronimet working capital A$2.0m), leases of A$12.3m and a Regal royalty liability of A$10.8m. The going-concern qualification of FY2025 was removed. Liquidity is strong at current prices but depends on APT staying well above cost; receivables of A$51.5m and A$80-100m of FY2027 capex are the near-term cash calls.
Inventory composition4
Inventories of A$46.9m at 30 June 2026, dominated by the acquired Mt Carbine low-grade stockpile carried at A$20.3m; closing ROM at Barruecopardo rose to 669,541 t at 30 September 2026.
- Mt Carbine low-grade stockpile, raw material (non-current, about 5.32 Mt on hand)
- A$20.3M carrying · 5,320,000 t
- Work-in-progress (circuit and ore on pads)
- A$13.4M carrying
- Finished goods tungsten concentrate (current 4,094k and non-current 3,330k)
- A$7.4M carrying
- Workshop inventory and raw consumables
- A$5.8M carrying
Capital structure
Ownership and dilution
- Ordinary shares
- 5.2B
- Fully diluted
- 5.5B
Ordinary shares: 5,156,642,367 on the register at 31 August 2026 plus 27,207,109 shares quoted under six Appendix 2A notices between 7 September and 19 October 2026 gives 5,183,849,476 at 16 October 2026. Fully diluted adds 291,725,752 options (31 August 2026) and 23,290,000 performance rights (30 June 2026) and removes the 27,207,109 shares assumed to have come from conversions, giving 5,471,658,119. The option table lists the 30 June 2026 series (about 299.7m options) and does not net exercises since; the valuation applies the treasury-method with these strikes.
Security classes9
| Class | Type | Quantity | Strike | Expiry |
|---|---|---|---|---|
| Fully paid ordinary shares at 16 Oct 2026 | Ordinary Share | 5.2B | — | — |
| Options EQRAP, EQRAQ and EQRAT expiring 29 May 2027, strike A$0.0675 (30 Jun 2026 table; later exercises not netted) | Option | 136.5M | A$0.068 | 2027-05-29 |
| Options EQRAS expiring 29 Nov 2027, strike A$0.07 (30 Jun 2026 table; later exercises not netted) | Option | 39.7M | A$0.07 | 2027-11-29 |
| Options EQRAV expiring 3 Nov 2028, strike A$0.0512 (30 Jun 2026 table; later exercises not netted) | Option | 4M | A$0.051 | 2028-11-03 |
| Options EQRAX expiring 27 Nov 2028, strike A$0.05 (30 Jun 2026 table; later exercises not netted) | Option | 5M | A$0.05 | 2028-11-27 |
| Options EQRAY expiring 3 Mar 2029, strike A$0.035 (30 Jun 2026 table; later exercises not netted) | Option | 8M | A$0.035 | 2029-03-03 |
| Options EQRAZZ expiring 22 Mar 2029, strike A$0.15 (30 Jun 2026 table; later exercises not netted) | Option | 39M | A$0.15 | 2029-03-22 |
| Options EQROP1-4 expiring 9 Jan 2029, strike A$0.15 (30 Jun 2026 table; later exercises not netted) | Option | 65.9M | A$0.15 | 2029-01-09 |
| Performance rights EQRPR01 expiring 30 Sep 2028 (30 Jun 2026 table) | Performance Right | 23.3M | — | 2028-09-30 |
Actuals and forecasts
Financial statements
| AUD | Unit | Trend | FY2025A | FY2026A |
|---|---|---|---|---|
| Operations | ||||
| WO3 produced, group | mtu | 167,805 | 118,946 | |
| WO3 produced, Barruecopardo | mtu | 119,023 | 90,666 | |
| WO3 produced, Mt Carbine | mtu | 48,782 | 28,280 | |
| Profit and loss | ||||
| Revenue | AUDm | 66.0 | 165.4 | |
| Operating costs and royalties (net of other income; implied for actual years) | AUDm | 75.6 | 114.9 | |
| Corporate costs and regional exploration | AUDm | 0.0 | 0.0 | |
| EBITDA | AUDm | (9.5) | 50.6 | |
| Depreciation and amortisation | AUDm | 12.0 | 17.4 | |
| EBIT | AUDm | (21.6) | 33.1 | |
| Net interest and finance charges | AUDm | 5.6 | 6.5 | |
| Income tax (cash tax in forecast) | AUDm | 0.0 | 0.0 | |
| Share-based payments and other non-cash items | AUDm | 12.1 | 19.6 | |
| Net profit after tax | AUDm | (39.2) | 7.1 | |
| Cash flow | ||||
| Operating cash flow | AUDm | (16.9) | (5.6) | |
| Sustaining capex | AUDm | 2.0 | 8.5 | |
| Growth and exploration capex | AUDm | 8.2 | 4.5 | |
| Total capex | AUDm | 10.2 | 12.9 | |
| Free cash flow | AUDm | (27.1) | (18.5) | |
| Balance sheet | ||||
| Cash | AUDm | 1.9 | 28.2 | |
| Borrowings, convertible notes and lease liabilities | AUDm | 60.8 | 36.8 | |
| Net debt (negative is net cash) | AUDm | 58.9 | 8.6 | |
| Total equity | AUDm | 36.3 | 154.3 | |
| Per share | ||||
| Shares on issue at period end | m shares | 2,727.7 | 5,115.5 | |
| Basic earnings per share | AUD/share | (0.02) | 0.00 | |
| Dividends per share | AUD/share | 0.00 | 0.00 | |
| Multiples and ratios | ||||
| EV / EBITDA (x, current EV) | x | (153.8) | 28.9 | |
| P / E (x, current market cap) | x | (38.3) | 211.3 | |
| FCF yield (current market cap) | % | -1.8% | -1.2% | |
| EBITDA margin | % | -14.4% | 30.6% | |
| Net debt / EBITDA (x) | x | (6.2) | 0.2 | |
KPI history
Operating metrics
Operating metric source table24
| Metric | Project | Period | Period type | Value | Status |
|---|---|---|---|---|---|
| Group WO3 produced Q2 FY2025 | Company | Q2 FY2025 | Quarter | 42,292 mtu | Reported |
| Group WO3 produced Q3 FY2025 | Company | Q3 FY2025 | Quarter | 36,322 mtu | Reported |
| Group WO3 produced Q4 FY2025 | Company | Q4 FY2025 | Quarter | 35,197 mtu | Reported |
| Group WO3 produced Q1 FY2026 | Company | Q1 FY2026 | Quarter | 28,834 mtu | Reported |
| Group WO3 produced Q2 FY2026 | Company | Q2 FY2026 | Quarter | 38,292 mtu | Reported |
| Group WO3 produced Q3 FY2026 | Company | Q3 FY2026 | Quarter | 23,505 mtu | Reported |
| Group WO3 produced Q4 FY2026 | Company | Q4 FY2026 | Quarter | 28,315 mtu | Reported |
| Group WO3 produced Q1 FY2027 | Company | Q1 FY2027 | Quarter | 51,233 mtu | Reported |
| Group average realised price Q1 FY2026 | Company | Q1 FY2026 | Quarter | 374 USD/mtu | Reported |
| Group average realised price Q2 FY2026 | Company | Q2 FY2026 | Quarter | 478 USD/mtu | Reported |
| Group average realised price Q3 FY2026 | Company | Q3 FY2026 | Quarter | 1,004 USD/mtu | Reported |
| Group average realised price Q4 FY2026 | Company | Q4 FY2026 | Quarter | 1,875 USD/mtu | Reported |
| Group average realised price Q1 FY2027 | Company | Q1 FY2027 | Quarter | 2,248 USD/mtu | Reported |
| Barruecopardo WO3 produced FY2026 | Barruecopardo | FY2026 | Year | 90,666 mtu | Reported |
| Mt Carbine WO3 produced FY2026 | Mt Carbine | FY2026 | Year | 28,280 mtu | Reported |
| Barruecopardo WO3 produced Q1 FY2027 | Barruecopardo | Q1 FY2027 | Quarter | 34,088 mtu | Reported |
| Mt Carbine WO3 produced Q1 FY2027 | Mt Carbine | Q1 FY2027 | Quarter | 17,145 mtu | Reported |
| Group cash cost (COGS after inventory movement) Q1 FY2027 | Company | Q1 FY2027 | Quarter | 483 USD/mtu | Reported |
| Group cash cost (COGS after inventory movement) Q4 FY2026 | Company | Q4 FY2026 | Quarter | 711 USD/mtu | Reported |
| Group revenue FY2026 | Company | FY2026 | Year | 165,439,000 AUD | Reported |
| Group EBITDA FY2026 (company defined) | Company | FY2026 | Year | 50,576,000 AUD | Reported |
| Cash 30 June 2026 | Company | 30 Jun 2026 | Point In Time | 28,180,000 AUD | Reported |
| Cash 30 September 2026 | Company | 30 Sep 2026 | Point In Time | 82,384,000 AUD | Reported |
| Drawn financing facilities 30 September 2026 | Company | 30 Sep 2026 | Point In Time | 29,550,000 AUD | Reported |
Company guidance3
| Metric | Project | Period | Low | High | Status |
|---|---|---|---|---|---|
| Wo3 Production, Fy2027 (Group), Mtu | Company | FY2027 | 240,000 | 280,000 mtu WO3 | Current |
| Cash Cost Of Production, Fy2027 (Group), Aud Per Mtu | Company | FY2027 | 595 | 691 AUD per mtu | Current |
| Capital Expenditure, Fy2027 (Group), Aud | Company | FY2027 | 80,000,000 | 100,000,000 AUD | Current |
Capital history
Capital events
| Date | Event | Amount | Shares | Price | Status | Terms |
|---|---|---|---|---|---|---|
| 2026-07-10 | Raising | — | 30M | — | Completed | — |
| 2026-06-30 | RaisingOptions | A$23.2M | — | — | Completed | Cash proceeds from option exercises during FY2026; a further A$1.8m was received in the September 2026 quarter.exercise of options from FY2025 raisings |
| 2026-06-26 | Raising | — | 20M | — | Completed | — |
| 2026-02-18Ann. 2026-02-24 | Debt | — | — | — | Completed | EUR 15m commercial prepayment facility with linked offtake; monthly principal from August 2026; AR note records the amount in euro, announcement dated 24 February 2026 per the investor presentation.Period 2026-02-18 to 2029-02-18 · EURIBOR + 5.5% · Traxys Europe S.A. |
| 2025-12-05 | RaisingOrdinary Shares | A$34M | 680M | A$0.05 | Completed | A$34m placement of 680m shares plus conversion of A$7.25m Oaktree pre-royalty loan into 145m shares at A$0.05, subject to approval.Max 825M · Euroz Hartleys and Canaccord Genuity · Holder approval required |
| 2025-09-09Ann. 2025-09-03 | RaisingOrdinary Shares | A$22.5M | 703.1M | A$0.032 | Completed | Institutional placement; 570.2m shares under existing capacity and 132.9m to Oaktree subject to shareholder approval.Max 703.1M · Canaccord Genuity and Henslow · Holder approval required |
Contracts and ownership
Material economic arrangements These are deals that can affect sales, costs, funding or ownership. An arrangement marked “Included in valuation” may already be built into a project estimate or the bridge to shareholder value. A separate amount is shown only when one can be estimated; do not add it again.
Built from the Annual Report 2026 notes (borrowings, contract liabilities, royalty), the September 2026 Appendix 5B facilities and announcements; offtake pricing and volume terms of the Cronimet, Traxys and Elmet agreements are not fully disclosed in the documents read.
Long-term volume-based offtake of Mt Carbine concentrate with Cronimet (Cronimet Australia is a 5.0% shareholder and Oliver Kleinhempel is a Cronimet executive); price floats with the APT benchmark and a USD advance is repaid from free cash flow.
Offtake · Active- Counterparties
- Cronimet Asia Pte Ltd
- Applies to
- Mt Carbine tungsten mine and low-grade stockpile · Tungsten
- Economic direction
- Mixed
- Period
- Dates not stated
- Key terms
- Share of initial Mt Carbine production sold: 100 %
Offtake advance outstanding at 30 Jun 2026: 5,079,000 AUD
Working capital facility drawn: 2,001,000 AUD
Pricing: Fastmarkets APT 88.5% WO3 Rotterdam CIF, month prior to shipment
How it affects our valuation
No valuation treatment is available for this arrangement.
EUR 15m commercial prepayment facility with a linked tungsten concentrate offtake and subordination agreement for Saloro; repaid monthly from August 2026 either in cash or by concentrate deliveries.
Offtake · Active- Counterparties
- Traxys Europe S.A.
- Applies to
- Barruecopardo tungsten mine (Saloro S.L.U.) · Tungsten
- Economic direction
- Mixed
- Period
- From 2026-02-18; no end date stated
- Key terms
- Facility size: 15,000,000 EUR
Interest: EURIBOR 1M + 5.5%
Final discharge: 2029-02-18
Monthly principal settled by deliveries, cap: 500,000 EUR
Drawn at 30 Sep 2026: 22,518,000 AUD
How it affects our valuation
No valuation treatment is available for this arrangement.
Strategic collaboration and long-term offtake of Barruecopardo concentrate to a US downstream manufacturer, with Elmet also holding EQR shares and taking 70% of the Springer APT JV.
Offtake · Active- Counterparties
- The Elmet Group Co.
- Applies to
- Barruecopardo tungsten mine (Saloro S.L.U.) · Tungsten
- Economic direction
- Benefit
- Period
- From 2024-09-02; no end date stated
- Key terms
- Term: 5 years, mutually renewable
Elmet shareholding: 23,652,634 shares
How it affects our valuation
No valuation treatment is available for this arrangement.
Royalty funding of A$10m received in two tranches in exchange for a 3% royalty on Mt Carbine; carried as a A$10.8m financial liability at fair value.
Royalty · Active- Counterparties
- Regal Resources Royalties Fund
- Applies to
- Mt Carbine tungsten mine and low-grade stockpile · Tungsten
- Economic direction
- Burden
- Period
- Dates not stated
- Key terms
- Royalty rate: 3 %
Buy-back: Buy-back after first stage A$10m is recovered and before the 7th anniversary, for A$2.75m, reducing the royalty to 1.5% for life of mine
Liability at 30 Jun 2026: 10,804,000 AUD
How it affects our valuation
No valuation treatment is available for this arrangement.
A 2.5% NSR royalty over Saloro agreed on 15 August 2025 for a US$7.5m pre-royalty loan; the December 2025 raise converted the loan to equity and stated the royalty agreement would be terminated. The FY2026 accounts carry no royalty liability.
Royalty · Terminated- Counterparties
- Oaktree Capital Management
- Applies to
- Barruecopardo tungsten mine (Saloro S.L.U.) · Tungsten
- Economic direction
- Burden
- Period
- From 2025-08-15; no end date stated
- Key terms
- Proposed royalty: 2.5 % NSR
How it affects our valuation
This arrangement has ended; no current valuation treatment is required.
Binding framework agreement for a 10% interest in a US joint venture (Elmet 70%, Blue Moon 20%) to restart the Springer APT plant, with feedstock allocation to EQR; plant restart targeted for 2H 2028.
Joint Venture · Conditional- Counterparties
- The Elmet Group Co. · Blue Moon Metals Inc.
- Applies to
- Company-wide · Tungsten
- Economic direction
- Mixed
- Period
- From 2026-09-14; no end date stated
- Key terms
- EQR interest: 10 %
Capital exposure cap (reported by secondary source): 3,125,000 USD
Plant: 4,000 tpa APT
How it affects our valuation
No valuation treatment is available for this arrangement.
Intrinsic value
Valuation
Valuation
Bear, base and bull values, investment cases, project valuations and the equity bridge are available to subscribers.
Sign in or enter a guest codeResource-price transmission
Sensitivity lab
Sensitivity lab
How our fair value responds to commodity prices and other drivers is available to subscribers.
Sign in or enter a guest codePeople, delivery and responsibility
Management background checks
The reported team combines tungsten operations, finance and legal experience. EQR describes a financing recovery alongside dilution and material safety and restoration challenges. This is a limited screen with important person-specific research gaps.
Decision-relevant facts
Material summary
Craig Bradshaw
Managing Director
Role FitAnalyst Inference · Medium materiality
Tungsten industry background
The issuer says Bradshaw was CEO of Masan High-Tech Materials and managing director of H.C. Starck Tungsten Powders before joining EQR. His appointment disclosure reports a business degree and CPA qualification; independent verification and precise former-employer dates are incomplete.
Responsibility not applicable · The former roles are issuer-reported and are not proof of specific individual commercial outcomes.
Appointment of Craig Bradshaw as Managing Director · Page 1, appointment biography
FailureIssuer Reported · Medium materiality
Prior mine blasting interruption
Masan reported blasting at Nui Phao had stopped since Q2 2023, lowering mined ore volumes and profitability. A 2024 Masan release announced a replacement blasting partnership and expected resumption in March. It names Bradshaw as CEO but does not establish his individual responsibility for the stoppage or independently establish the actual restart.
Role overlaps event; causation unproven · Bradshaw was named as Masan CEO in the release; personal responsibility and actual restart were not independently established.
Nui Phao Mining and GAET form strategic blasting partnership · PDF page 1, interruption and partnership
Company SuccessIssuer Reported · Medium materiality
Recapitalisation and reported profit
EQR reported FY2026 net profit after tax of A$7.1 million versus a restated A$39.2 million loss in FY2025. The managing director described substantial equity raising and debt conversion, with shares on issue increasing from 2.7 billion to 5.1 billion. This followed a period of liquidity pressure and benefited from higher tungsten prices.
Role overlaps event; causation unproven · Bradshaw became managing director 1 October 2025, part way through FY2026; the source does not isolate his individual contribution.
Annual report FY2026 · Physical PDF page 6, printed page 4, managing director address
SafetyIssuer Reported · High materiality
Mt Carbine safety frequency
EQR reported Mt Carbine lost-time injury frequency increased from 36.6 in FY2025 to 43.0 in FY2026 and then fell to 34.8 at September 2026. The company reported safety audits and new controls; effectiveness over a longer period remains unestablished.
Role overlaps event; causation unproven · Company and site-level measures during this person’s reported role; individual causal responsibility and exact incident-level oversight are not established.
Annual report FY2026 · Physical PDF page 6, printed page 4, safety section
September 2026 quarterly activities · PDF page 4, Health and Safety
SafetyIssuer Reported · High materiality
Barruecopardo safety frequency
EQR reported Barruecopardo lost-time injury frequency declined from 22.5 in FY2025 to 15.8 in FY2026, then increased to 22.3 at September 2026. The company reports continued safety sessions and environmental monitoring.
Role overlaps event; causation unproven · Site-level outcomes overlap the person’s reported role; the evidence does not establish personal causation or responsibility for any particular injury.
Annual report FY2026 · Physical PDF page 6, printed page 4, safety section
September 2026 quarterly activities · PDF page 3, Health and Safety
EnvironmentIssuer Reported · Medium materiality
Restoration-plan non-compliance remained open
The October quarterly says a risk of temporary suspension at Barruecopardo linked to partial non-compliance with the restoration mining plan had been mitigated after engagement with Salamanca’s industry authority. EQR said it continued work to address the non-compliance; the final regulator disposition was not established.
Role overlaps event; causation unproven · This is the company’s account of the site issue; individual decisions and fault are not established, and the regulator notice was not independently inspected.
September 2026 quarterly activities · PDF page 3, final processing paragraph
Evidence gaps · 3
- This is a partial public-source screen; independent credentials, exact role and employer tenure, and person-specific prior-employer outcomes remain incompletely verified.
- Separate person-specific searches for all required subject topics and targeted court/regulator checks remain incomplete.
- The detailed source and search record is not a criminal, sanctions, regulatory or professional-credential clearance.
Jonathan Kort
Chief Financial Officer
Company SuccessIssuer Reported · Medium materiality
Financing recovery alongside dilution
EQR reported FY2026 net profit after tax of A$7.1 million versus a restated A$39.2 million loss in FY2025. The managing director described significant equity funding and debt conversion, with issued shares rising from 2.7 billion to 5.1 billion; higher tungsten prices also helped.
Role overlaps event; causation unproven · Kort was company CFO during the period; the disclosures do not quantify his individual contribution to financing.
Annual report FY2026 · Physical PDF page 6, printed page 4, managing director address
EQR investor presentation July 2026 · PDF page 5, CFO role
GovernanceIssuer Reported · Medium materiality
Inconsistent prior-year EBITDA figures
The FY2026 annual report’s managing director address describes FY2025 EBITDA as negative A$29.7 million, while the remuneration table gives negative A$9.5 million. Both values are printed in the issuer report; differences in definition or other explanations were not established.
Role overlaps event; causation unproven · Kort was CFO, but the sources do not establish who prepared either figure, a reporting breach, or personal fault.
Annual report FY2026 · Physical PDF pages 6 and 43, printed pages 4 and 41
Evidence gaps · 3
- This is a partial public-source screen; independent credentials, exact role and employer tenure, and person-specific prior-employer outcomes remain incompletely verified.
- Separate person-specific searches for all required subject topics and targeted court/regulator checks remain incomplete.
- The detailed source and search record is not a criminal, sanctions, regulatory or professional-credential clearance.
Virna Trout
General Counsel and Company Secretary
Role FitAnalyst Inference · Medium materiality
Legal and company secretarial role
A July 2026 issuer announcement records Trout’s appointment as company secretary effective 23 July and reports more than 20 years in legal and governance roles. It states BCom and law qualifications; these were not independently checked.
Responsibility not applicable · Qualifications and career experience are company-reported; credentials not independently confirmed.
Appointment and resignation of company secretary · PDF page 1, appointment and biography
Evidence gaps · 3
- This is a partial public-source screen; independent credentials, exact role and employer tenure, and person-specific prior-employer outcomes remain incompletely verified.
- Separate person-specific searches for all required subject topics and targeted court/regulator checks remain incomplete.
- The detailed source and search record is not a criminal, sanctions, regulatory or professional-credential clearance.
Kevin MacNeill
Head of Operational Excellence
SafetyIssuer Reported · High materiality
Mt Carbine safety frequency
EQR reported Mt Carbine lost-time injury frequency increased from 36.6 in FY2025 to 43.0 in FY2026 and then fell to 34.8 at September 2026. The company reported safety audits and new controls; effectiveness over a longer period remains unestablished.
Role overlaps event; causation unproven · Company and site-level measures during this person’s reported role; individual causal responsibility and exact incident-level oversight are not established.
Annual report FY2026 · Physical PDF page 6, printed page 4, safety section
September 2026 quarterly activities · PDF page 4, Health and Safety
SafetyIssuer Reported · High materiality
Barruecopardo safety frequency
EQR reported Barruecopardo lost-time injury frequency declined from 22.5 in FY2025 to 15.8 in FY2026, then increased to 22.3 at September 2026. The company reports continued safety sessions and environmental monitoring.
Role overlaps event; causation unproven · Site-level outcomes overlap the person’s reported role; the evidence does not establish personal causation or responsibility for any particular injury.
Annual report FY2026 · Physical PDF page 6, printed page 4, safety section
September 2026 quarterly activities · PDF page 3, Health and Safety
Evidence gaps · 4
- This is a partial public-source screen; independent credentials, exact role and employer tenure, and person-specific prior-employer outcomes remain incompletely verified.
- Separate person-specific searches for all required subject topics and targeted court/regulator checks remain incomplete.
- The detailed source and search record is not a criminal, sanctions, regulatory or professional-credential clearance.
- The exact start date and continuation of the stated role at 31 October 2026 are not independently established.
Clinton Barnes
General Manager, Mt Carbine
SafetyIssuer Reported · High materiality
Mt Carbine safety frequency
EQR reported Mt Carbine lost-time injury frequency increased from 36.6 in FY2025 to 43.0 in FY2026 and then fell to 34.8 at September 2026. The company reported safety audits and new controls; effectiveness over a longer period remains unestablished.
Role overlaps event; causation unproven · Company and site-level measures during this person’s reported role; individual causal responsibility and exact incident-level oversight are not established.
Annual report FY2026 · Physical PDF page 6, printed page 4, safety section
September 2026 quarterly activities · PDF page 4, Health and Safety
Evidence gaps · 4
- This is a partial public-source screen; independent credentials, exact role and employer tenure, and person-specific prior-employer outcomes remain incompletely verified.
- Separate person-specific searches for all required subject topics and targeted court/regulator checks remain incomplete.
- The detailed source and search record is not a criminal, sanctions, regulatory or professional-credential clearance.
- The exact start date and continuation of the stated role at 31 October 2026 are not independently established.
Alvaro Serrano
Chief Executive Officer, Saloro
SafetyIssuer Reported · High materiality
Barruecopardo safety frequency
EQR reported Barruecopardo lost-time injury frequency declined from 22.5 in FY2025 to 15.8 in FY2026, then increased to 22.3 at September 2026. The company reports continued safety sessions and environmental monitoring.
Role overlaps event; causation unproven · Site-level outcomes overlap the person’s reported role; the evidence does not establish personal causation or responsibility for any particular injury.
Annual report FY2026 · Physical PDF page 6, printed page 4, safety section
September 2026 quarterly activities · PDF page 3, Health and Safety
EnvironmentIssuer Reported · Medium materiality
Restoration-plan non-compliance remained open
The October quarterly says a risk of temporary suspension at Barruecopardo linked to partial non-compliance with the restoration mining plan had been mitigated after engagement with Salamanca’s industry authority. EQR said it continued work to address the non-compliance; the final regulator disposition was not established.
Role overlaps event; causation unproven · This is the company’s account of the site issue; individual decisions and fault are not established, and the regulator notice was not independently inspected.
September 2026 quarterly activities · PDF page 3, final processing paragraph
Evidence gaps · 4
- This is a partial public-source screen; independent credentials, exact role and employer tenure, and person-specific prior-employer outcomes remain incompletely verified.
- Separate person-specific searches for all required subject topics and targeted court/regulator checks remain incomplete.
- The detailed source and search record is not a criminal, sanctions, regulatory or professional-credential clearance.
- The exact start date and continuation of the stated role at 31 October 2026 are not independently established.
Evren Oeren
Chief Operating Officer, Saloro
SafetyIssuer Reported · High materiality
Barruecopardo safety frequency
EQR reported Barruecopardo lost-time injury frequency declined from 22.5 in FY2025 to 15.8 in FY2026, then increased to 22.3 at September 2026. The company reports continued safety sessions and environmental monitoring.
Role overlaps event; causation unproven · Site-level outcomes overlap the person’s reported role; the evidence does not establish personal causation or responsibility for any particular injury.
Annual report FY2026 · Physical PDF page 6, printed page 4, safety section
September 2026 quarterly activities · PDF page 3, Health and Safety
EnvironmentIssuer Reported · Medium materiality
Restoration-plan non-compliance remained open
The October quarterly says a risk of temporary suspension at Barruecopardo linked to partial non-compliance with the restoration mining plan had been mitigated after engagement with Salamanca’s industry authority. EQR said it continued work to address the non-compliance; the final regulator disposition was not established.
Role overlaps event; causation unproven · This is the company’s account of the site issue; individual decisions and fault are not established, and the regulator notice was not independently inspected.
September 2026 quarterly activities · PDF page 3, final processing paragraph
Evidence gaps · 4
- This is a partial public-source screen; independent credentials, exact role and employer tenure, and person-specific prior-employer outcomes remain incompletely verified.
- Separate person-specific searches for all required subject topics and targeted court/regulator checks remain incomplete.
- The detailed source and search record is not a criminal, sanctions, regulatory or professional-credential clearance.
- The exact start date and continuation of the stated role at 31 October 2026 are not independently established.
Mark Lindsay
General Manager, Discovery and Growth
Role FitAnalyst Inference · Medium materiality
Exploration role added to selected roster
A 16 July 2026 report states Lindsay commenced as general manager, discovery and growth on 15 July and previously held senior exploration positions at Gold Road, GBM and Resolute. Those roles and their exact dates require independent corroboration.
Responsibility not applicable · The article reports appointment and experience; individual discoveries and prior-employer performance have not been independently established.
EQ Resources handpicks new exploration chief · Article, appointment and prior-career paragraphs
Evidence gaps · 4
- This is a partial public-source screen; independent credentials, exact role and employer tenure, and person-specific prior-employer outcomes remain incompletely verified.
- Separate person-specific searches for all required subject topics and targeted court/regulator checks remain incomplete.
- The detailed source and search record is not a criminal, sanctions, regulatory or professional-credential clearance.
- The exact start date and continuation of the stated role at 31 October 2026 are not independently established.
Company ownership
Investors & shareholders
Top registered shareholders
Register at 2026-08-31 · 5,156,642,367 issued shares
| # | Investor / registered holder | % issued shares | Shares held |
|---|---|---|---|
| 1 | 35.55% | 1,833,411,007 | |
| 2 | 17.05% | 879,343,325 | |
| 3 | 6.86% | 354,000,601 | |
| 4 | 2.91% | 149,853,099 | |
| 5 | 2.56% | 131,868,132 | |
| 6 | 2.47% | 127,323,657 | |
| 7 | 2.23% | 114,782,082 | |
| 8 | 1.11% | 57,306,187 | |
| 9 | 1.07% | 55,000,000 | |
| 10 | 1.06% | 54,869,730 | |
| 11 | 1.01% | 52,068,441 | |
| 12 | 0.82% | 42,114,071 | |
| 13 | 0.62% | 31,839,565 | |
| 14 | 0.61% | 31,705,449 | |
| 15 | 0.60% | 31,088,236 | |
| 16 | 0.54% | 28,101,000 | |
| 17 | 0.51% | 26,500,000 | |
| 18 | 0.44% | 22,507,211 | |
| 19 | 0.42% | 21,797,449 | |
| 20 | 0.37% | 19,296,428 |
Disclosed substantial holders
Latest reviewed disclosure for each holder or reporting group
| Investor / reported group | Disclosed holding | Holding at |
|---|---|---|
| 18.14%Voting power | 2026-10-22 | |
| 5.64%Voting power | 2025-12-18 | |
| 5.36%Voting power | 2026-09-18 |
Sources & review notesEvidence checked through 2026-10-31
Coverage and limitations
- Nominee accounts conceal underlying beneficial owners.
- Wonongarra’s October notice reports a change on 22 October while its transaction table includes acquisitions through 26 October; the measurement date is unresolved.
- Oaktree ceased substantial status in July; this is not proof of a zero position.
- Other group positions and later changes remain to be reconciled; later capital changes may alter historic percentages.
Sources
- Annual Report 2026
EQ Resources via ASX · Published 2026-09-30 · Accessed 2026-10-31
20 registered accounts at 31 August 2026.
downloads/EQR/2026/2026-09-30_Annual Report to shareholders_6cb9837a66286dfe.pdf, PDF pages 115–116
- Wonongarra change in substantial holding
Wonongarra via ASX · Published 2026-10-26 · Accessed 2026-10-31
941,470,994 shares and 18.14% voting power; conflicting event dates disclosed.
downloads/EQR/2026/2026-10-26_Change in substantial holding_9dd011c7dab1d302.pdf, page 1
- Van Eck becoming a substantial holder
Van Eck via ASX · Published 2026-09-22 · Accessed 2026-10-31
277,199,830 ordinary shares and 5.36% on 18 September 2026.
downloads/EQR/2026/2026-09-22_Becoming a substantial holder_84328f5474886abc.pdf, page 1, visually reviewed
- CRONIMET becoming a substantial holder
CRONIMET via ASX · Published 2026-02-02 · Accessed 2026-10-31
259,191,789 shares and 5.64% on 18 December 2025.
downloads/EQR/2026/2026-02-02_Notice of Initial Substantial Holder_1b0c731f8ad6a35a.pdf, page 1
- Oaktree ceasing substantial holding
Oaktree via ASX · Published 2026-07-28 · Accessed 2026-10-31
Oaktree ceased substantial status on 24 July 2026; no zero holding inferred.
downloads/EQR/2026/2026-07-28_Ceasing to be a substantial holder_9aa493d245d192bf.pdf, page 1
Disclosed activity
Insider transactions
Trading activity18 buys · 25 sells shownNet cash last 12 months A$130.4mShow chartHide chart
On-market buyPlacement / plan subscriptionSaleMarker size = cash valueGrant, exercise, expiry or transferBars: cash bought (up) and sold (down) per month
| Date | Person / account | Activity / security | Quantity | Cash consideration | Price | Holding after |
|---|---|---|---|---|---|---|
| 2026-10-13to 2026-10-26 | Wonongarra Pty Ltd and John Andrew Henry Forrest
Details & evidence for Wonongarra Pty Ltd and John Andrew Henry Forrest on 2026-10-13Form states $23,186,456.21 total but does not label currency or venue. Header states change on 22 October although acquisition period extends to 26 October; unresolved date inconsistency. Forrest controls Wonongarra: overlapping interests are not additive. As disclosed: Acquisition of Shares
Change in substantial holding ↗ | PurchaseFully paid ordinary shares | 83,649,874 | —Not Disclosed | — | — |
| 2026-09-18 | Van Eck Associates CorporationVanEck Rare Earth and Strategic Metals UCITS ETF
Details & evidence for Van Eck Associates Corporation on 2026-09-18Cash consideration and price are disclosed; the form does not state the currency. As disclosed: Sale of ordinary shares
VanEck Rare Earth and Strategic Metals ETF · reported relevant interest through this ETF position VanEck Rare Earth and Strategic Metals ex China ETF · reported relevant interest through this ETF position VanEck Rare Earth and Strategic Metals UCITS ETF · reported relevant interest through this ETF position Becoming a substantial holder ↗ | SaleOrdinary shares | 1,978,086 | —Not Disclosed | AUD 0.485Disclosed price | — |
| 2026-09-18 | Van Eck Associates CorporationVanEck Rare Earth and Strategic Metals UCITS ETF
Details & evidence for Van Eck Associates Corporation on 2026-09-18Cash consideration and price are disclosed; the form does not state the currency. As disclosed: Purchase of ordinary shares
VanEck Rare Earth and Strategic Metals ETF · reported relevant interest through this ETF position VanEck Rare Earth and Strategic Metals ex China ETF · reported relevant interest through this ETF position VanEck Rare Earth and Strategic Metals UCITS ETF · reported relevant interest through this ETF position Becoming a substantial holder ↗ | PurchaseOrdinary shares | 105,839,604 | —Not Disclosed | AUD 0.485Disclosed price | — |
| 2026-09-18 | Van Eck Associates CorporationVanEck Rare Earth and Strategic Metals ex China ETF
Details & evidence for Van Eck Associates Corporation on 2026-09-18Cash consideration and price are disclosed; the form does not state the currency. As disclosed: Purchase of ordinary shares
VanEck Rare Earth and Strategic Metals ETF · reported relevant interest through this ETF position VanEck Rare Earth and Strategic Metals ex China ETF · reported relevant interest through this ETF position VanEck Rare Earth and Strategic Metals UCITS ETF · reported relevant interest through this ETF position Becoming a substantial holder ↗ | PurchaseOrdinary shares | 302,904 | —Not Disclosed | AUD 0.485Disclosed price | — |
| 2026-09-18 | Van Eck Associates CorporationVanEck Rare Earth and Strategic Metals ETF
Details & evidence for Van Eck Associates Corporation on 2026-09-18Cash consideration and price are disclosed; the form does not state the currency. As disclosed: Purchase of ordinary shares
VanEck Rare Earth and Strategic Metals ETF · reported relevant interest through this ETF position VanEck Rare Earth and Strategic Metals ex China ETF · reported relevant interest through this ETF position VanEck Rare Earth and Strategic Metals UCITS ETF · reported relevant interest through this ETF position Becoming a substantial holder ↗ | PurchaseOrdinary shares | 120,984,067 | —Not Disclosed | AUD 0.485Disclosed price | — |
| 2026-09-16 | Van Eck Associates CorporationVanEck Rare Earth and Strategic Metals ETF
Details & evidence for Van Eck Associates Corporation on 2026-09-16Cash consideration and price are disclosed; the form does not state the currency. As disclosed: Purchase of ordinary shares
VanEck Rare Earth and Strategic Metals ETF · reported relevant interest through this ETF position VanEck Rare Earth and Strategic Metals ex China ETF · reported relevant interest through this ETF position VanEck Rare Earth and Strategic Metals UCITS ETF · reported relevant interest through this ETF position Becoming a substantial holder ↗ | PurchaseOrdinary shares | 13,665,145 | —Not Disclosed | AUD 0.458Disclosed price | — |
| 2026-09-15 | Van Eck Associates CorporationVanEck Rare Earth and Strategic Metals ETF
Details & evidence for Van Eck Associates Corporation on 2026-09-15Cash consideration and price are disclosed; the form does not state the currency. As disclosed: Purchase of ordinary shares
VanEck Rare Earth and Strategic Metals ETF · reported relevant interest through this ETF position VanEck Rare Earth and Strategic Metals ex China ETF · reported relevant interest through this ETF position VanEck Rare Earth and Strategic Metals UCITS ETF · reported relevant interest through this ETF position Becoming a substantial holder ↗ | PurchaseOrdinary shares | 38,386,196 | —Not Disclosed | AUD 0.4318Disclosed price | — |
| 2026-08-07 | Wonongarra Pty Ltd and John Andrew Henry Forrest
Details & evidence for Wonongarra Pty Ltd and John Andrew Henry Forrest on 2026-08-07Form states $646,598.85 total but does not label currency or venue. Forrest and Wonongarra have overlapping relevant interests, not separate sales. As disclosed: Disposal of Shares
Change in substantial holding ↗ | SaleFully paid ordinary shares | 4,310,659 | —Not Disclosed | — | — |
| 2026-07-17to 2026-07-24 | Wonongarra Pty Ltd and John Andrew Henry Forrest
Details & evidence for Wonongarra Pty Ltd and John Andrew Henry Forrest on 2026-07-17Form 603 records the group's relevant interest from signing on 17 July; the agreement transfers title at completion on 24 July. This event is the buyer side of the OCM sale and is linked to it by economic_event_id. As disclosed: Acquisition of Shares under the Securities Sale Agreement
Becoming a substantial holder ↗ Ceasing to be a substantial holder ↗ Becoming a substantial holder ↗ Becoming a substantial holder ↗ | PurchaseFully paid ordinary shares | 862,131,779 | AUD 129,319,766.85 | AUD 0.15Calculated average | — |
| 2026-07-17to 2026-07-24 | Wonongarra Pty Ltd and John Andrew Henry Forrest
Details & evidence for Wonongarra Pty Ltd and John Andrew Henry Forrest on 2026-07-17The Form 603 table concerns voting shares; the attached agreement separately transfers these options to Wonongarra. As disclosed: Acquisition of Sale Options under the Securities Sale Agreement
Becoming a substantial holder ↗ Becoming a substantial holder ↗ Becoming a substantial holder ↗ Ceasing to be a substantial holder ↗ | PurchaseUnlisted options exercisable at A$0.0675 expiring 29 May 2027 | 35,555,556 | AUD 1,066,666.68 | AUD 0.03Calculated average | — |
| 2026-03-18 | OCM Luxembourg Tungsten Holdings S.à r.l.
Details & evidence for OCM Luxembourg Tungsten Holdings S.à r.l. on 2026-03-18Official 5 December 2025 issuer release states that the 145,000,000-share allotment was in exchange for conversion of the remaining approximately A$7.25 million pre-royalty loan. The $0.05 per-share value is expressly stated as A$0.05 in that release; no cash consideration is recorded. As disclosed: Acquisition of Shares by subscribing for Shares under the placement announced by EQR on 5 December 2025
Bank of New York Mellon · Bank of New York Mellon holds the Sale Shares as custodian on OCM's behalf Notice of Change of Interests of Substantial Holder ↗ Notice of Change of Interests of Substantial Holder ↗ | SubscriptionFully paid ordinary shares | 145,000,000 | —Non Cash | AUD 0.05Disclosed price | 862,131,779 |
| 2025-12-18 | CRONIMET Australia Pty Ltd and related bodies corporateCRONIMET Australia Pty Ltd
Details & evidence for CRONIMET Australia Pty Ltd and related bodies corporate on 2025-12-18The body of the Form 603 says 131,868,132 shares were issued to CRONIMET Asia Pte Ltd, while Annexure B identifies CRONIMET Australia Pty Ltd as registered holder of the group's shares. The group interest is recorded once, without an inferred allocation between these entities. As disclosed: The issuance of new EQ Resources Limited shares to Cronimet Asia Pte Ltd as per an agreement to convert debt to equity as announced 15 August 2025
CRONIMET Asia Pte Ltd · Related entity named in the debt-to-equity share issue; its exact registered allocation is not stated CRONIMET Asia Pte Ltd · Upstream entity sharing the substantial-holder group's relevant interest CRONIMET Australia Pty Ltd · Registered holder of the group's EQR shares CRONIMET Australia Pty Ltd · Registered holder of the group's shares Notice of Initial Substantial Holder ↗ Notice of Initial Substantial Holder ↗ | SubscriptionFully paid ordinary shares | 131,868,132 | —Non Cash | — | 259,191,789 |
| 2025-11-21 | OCM Luxembourg Tungsten Holdings S.à r.l.
Details & evidence for OCM Luxembourg Tungsten Holdings S.à r.l. on 2025-11-21The 21 November Form 604 reports a $0.032 per-share subscription but does not state the currency or exact cash amount. The issuer’s 3 September 2025 placement release (2924-02988653-2A1618946, PDF page 2) says Oaktree subscribed pro rata for a 132.879 million-share tranche valued at approximately A$4.25 million; this confirms a cash subscription in AUD, but the amount is approximate and no exact cash total is recorded. As disclosed: Acquisition of Shares by subscribing for Shares under the placement announced by EQR on 3 September 2025
Bank of New York Mellon · Bank of New York Mellon holds the Sale Shares as custodian on OCM's behalf Notice of Change of Interests of Substantial Holder ↗ Notice of Change of Interests of Substantial Holder ↗ | SubscriptionFully paid ordinary shares | 132,879,398 | — | AUD 0.032Disclosed price | 717,131,779 |
| 2025-08-18 | OCM Luxembourg Tungsten Holdings S.à r.l.
Details & evidence for OCM Luxembourg Tungsten Holdings S.à r.l. on 2025-08-18The Form 604 reports a 249,585,714-share subscription at $0.035/share. The issuer's 22 May 2025 Appendix 3B (2924-02949323-2A1597792, PDF page 3) proposed this exact quantity as a cash issue at AUD $0.035; the 18 August Form 604 confirms completion under that placement, so the subscription currency is AUD. The 19 June EGM notice states a rounded $8.735 million contribution without currency; the exact cash amount remains null because share-price arithmetic is about A$8.7355 million. As disclosed: Acquisition of Shares by subscribing for Shares under the placement announced by EQR on 22 May 2025
Bank of New York Mellon · Bank of New York Mellon holds the Sale Shares as custodian on OCM's behalf Notice of Change of Interests of Substantial Holder ↗ Notice of Change of Interests of Substantial Holder ↗ | SubscriptionFully paid ordinary shares | 249,585,714 | — | AUD 0.035Disclosed price | 584,252,381 |
| 2025-02-07 | OCM Luxembourg Tungsten Holdings S.à r.l.
Details & evidence for OCM Luxembourg Tungsten Holdings S.à r.l. on 2025-02-07OCM subscribed under the placement announced by EQR on 13 December 2024; the form states $0.04 per share, without specifying currency or total cash. Oaktree affiliate positions are overlapping. As disclosed: Acquisition of Shares by subscribing for Shares under the placement announced by EQR on 13 December 2024
Bank of New York Mellon · Bank of New York Mellon holds the Sale Shares as custodian on OCM's behalf Notice of Change of Interests of Substantial Holder ↗ Notice of Change of Interests of Substantial Holder ↗ | SubscriptionFully paid ordinary shares | 25,000,000 | — | AUD 0.04Disclosed price | 334,666,667 |
| 2025-02-07 | Oaktree Capital Management L.P.
Details & evidence for Oaktree Capital Management L.P. on 2025-02-07Recorded once at the named Oaktree group level. The meeting notice allows issue to Oaktree or nominees, while the Appendix 3G does not identify a nominee or registered account. No account-level allocation or prior/final option balance is inferred. The stated $1,000,000 placement advance is not treated as cash consideration for the options. As disclosed: Participants will receive one (1) free attaching option for every one (1) share subscribed for under the Placement
Notification regarding unquoted securities - EQR ↗ Notification regarding unquoted securities - EQR ↗ Notice of Extraordinary General Meeting/Proxy Form ↗ Notice of Extraordinary General Meeting/Proxy Form ↗ Notice of Extraordinary General Meeting/Proxy Form ↗ Results of Meeting ↗ | GrantEQRAQ unlisted options exercisable at $0.0675, expiring 29 May 2027 | 25,000,000 | —Non Cash | — | — |
| 2024-08-14 | Zhui Pei Yeo
Details & evidence for Zhui Pei Yeo on 2024-08-14This is the 1,111,111-share cash placement component separated from the 39,304,733-share loan settlement. The Form 603 reports nil cash and non-cash consideration for the combined quantity; the EGM allocation is used and the Form 603 fields are preserved as a source conflict. As disclosed: Issue of 1,111,111 Shares and 370,370 free attaching Options to Zhui Yeo (or his nominee) under Resolution 6.
Becoming a substantial holder ↗ Change of Director's Interest Notice x4 ↗ Change of Director's Interest Notice x4 ↗ Notice of Extraordinary General Meeting/Proxy Form ↗ Notice of Extraordinary General Meeting/Proxy Form ↗ Notice of Extraordinary General Meeting/Proxy Form ↗ Results of Meeting ↗ | SubscriptionFully paid ordinary shares | 1,111,111 | — | AUD 0.045Disclosed price | — |
| 2024-08-14 | Zhui Pei Yeo
Details & evidence for Zhui Pei Yeo on 2024-08-14Resolution 8 separately approves the 39,304,733-share loan settlement. OCM's Form 604 independently identifies the shares as issued to settle Yeo's loan. The Form 603 reports the total share change but its nil consideration fields are not used to classify this tranche. As disclosed: Issue of 39,304,733 Shares and 13,101,578 free attaching Options in satisfaction of the loan and accrued interest under Resolution 8.
Becoming a substantial holder ↗ Change of Director's Interest Notice x4 ↗ Change of Director's Interest Notice x4 ↗ Notice of Extraordinary General Meeting/Proxy Form ↗ Notice of Extraordinary General Meeting/Proxy Form ↗ Notice of Extraordinary General Meeting/Proxy Form ↗ Results of Meeting ↗ Change in substantial holding ↗ | SubscriptionFully paid ordinary shares | 39,304,733 | —Non Cash | AUD 0.045Disclosed price | — |
| 2024-07-29 | CRONIMET Australia Pty Ltd and related bodies corporateCRONIMET Australia Pty Ltd
Details & evidence for CRONIMET Australia Pty Ltd and related bodies corporate on 2024-07-29The Form 603 records the group's relevant interest once. Annexure A lists the same 127,323,657 shares for related bodies corporate; Annexure B identifies CRONIMET Australia as registered and entitled holder. The shares were issued for the Mt Carbine JV interest transfer, not purchased for cash. The EGM notice names Cronimet Asia as allottee and describes issue on or about 15 July 2024; the Form 603/transfer variation date remains 29 July, and the date difference is not resolved. As disclosed: The issuance of new EQ Resources Limited shares in consideration for the transfer of joint venture assets under the joint venture interest transfer agreement
CRONIMET Asia Pte Ltd · Related entity named in the debt-to-equity share issue; its exact registered allocation is not stated CRONIMET Asia Pte Ltd · Upstream entity sharing the substantial-holder group's relevant interest CRONIMET Australia Pty Ltd · Registered holder of the group's EQR shares CRONIMET Australia Pty Ltd · Registered holder of the group's shares Becoming a substantial holder ↗ Becoming a substantial holder ↗ Becoming a substantial holder ↗ Becoming a substantial holder ↗ Becoming a substantial holder ↗ Becoming a substantial holder ↗ Becoming a substantial holder ↗ Becoming a substantial holder ↗ Notice of Extraordinary General Meeting/Proxy Form ↗ Notice of Extraordinary General Meeting/Proxy Form ↗ Results of Meeting ↗ | SubscriptionFully paid ordinary shares | 127,323,657 | —Non Cash | AUD 0.09Disclosed price | 127,323,657 |
| 2024-05-29 | OCM Luxembourg Tungsten Holdings S.à r.l.
Details & evidence for OCM Luxembourg Tungsten Holdings S.à r.l. on 2024-05-29OCM subscribed for its full entitlement. The form states $0.045 per share but does not specify currency or total cash. Later company share issues affected the group's percentage, not its share count. As disclosed: Acquisition of Shares by subscribing to its full entitlement under the entitlement offer announced by EQR on 29 May 2024
Bank of New York Mellon · Bank of New York Mellon holds the Sale Shares as custodian on OCM's behalf Change in substantial holding ↗ Change in substantial holding ↗ | SubscriptionFully paid ordinary shares | 31,666,667 | — | AUD 0.045Disclosed price | 309,666,667 |
| 2024-01-18 | OCM Luxembourg Tungsten Holdings S.à r.l.
Details & evidence for OCM Luxembourg Tungsten Holdings S.à r.l. on 2024-01-18The Form 603 reports acquisition on 18 January 2024 but does not state the mechanism or venue. Cash consideration is explicitly denominated A$. As disclosed: Cash consideration paid for 278,000,000 ordinary shares acquired 18 January 2024
Bank of New York Mellon · Bank of New York Mellon holds the Sale Shares as custodian on OCM's behalf Notice of Initial Substantial Holder ↗ Notice of Initial Substantial Holder ↗ | PurchaseOrdinary shares | 278,000,000 | AUD 25,020,000.00 | AUD 0.09Calculated average | 278,000,000 |
| 2023-05-11 | Pheim Asset Management (M) Sdn. Bhd.
Details & evidence for Pheim Asset Management (M) Sdn. Bhd. on 2023-05-11Currency and venue are not specified; per-share price is not stated; the reported total uses an unqualified dollar sign. As disclosed: Sell
Notice of ceasing to be a substantial holder ↗ | SaleFully paid ordinary shares | 500,000 | — | — | 128,938 |
| 2023-05-10 | Pheim Asset Management (M) Sdn. Bhd.
Details & evidence for Pheim Asset Management (M) Sdn. Bhd. on 2023-05-10Currency and venue are not specified; per-share price is not stated; the reported total uses an unqualified dollar sign. As disclosed: Sell
Notice of ceasing to be a substantial holder ↗ | SaleFully paid ordinary shares | 320,000 | — | — | 628,938 |
| 2023-05-10 | Pheim Asset Management (M) Sdn. Bhd.
Details & evidence for Pheim Asset Management (M) Sdn. Bhd. on 2023-05-10Currency and venue are not specified; per-share price is not stated; the reported total uses an unqualified dollar sign. As disclosed: Sell
Notice of ceasing to be a substantial holder ↗ | SaleFully paid ordinary shares | 46,000 | — | — | 948,938 |
| 2023-05-10 | Pheim Asset Management (M) Sdn. Bhd.
Details & evidence for Pheim Asset Management (M) Sdn. Bhd. on 2023-05-10Currency and venue are not specified; per-share price is not stated; the reported total uses an unqualified dollar sign. As disclosed: Sell
Notice of ceasing to be a substantial holder ↗ | SaleFully paid ordinary shares | 43,000 | — | — | 994,938 |
| 2023-05-10 | Pheim Asset Management (M) Sdn. Bhd.
Details & evidence for Pheim Asset Management (M) Sdn. Bhd. on 2023-05-10Currency and venue are not specified; per-share price is not stated; the reported total uses an unqualified dollar sign. As disclosed: Sell
Notice of ceasing to be a substantial holder ↗ | SaleFully paid ordinary shares | 91,000 | — | — | 1,037,938 |
| 2023-05-09 | Pheim Asset Management (M) Sdn. Bhd.
Details & evidence for Pheim Asset Management (M) Sdn. Bhd. on 2023-05-09Currency and venue are not specified; per-share price is not stated; the reported total uses an unqualified dollar sign. As disclosed: Sell
Notice of ceasing to be a substantial holder ↗ | SaleFully paid ordinary shares | 266,663 | — | — | 1,128,938 |
| 2023-05-09 | Pheim Asset Management (M) Sdn. Bhd.
Details & evidence for Pheim Asset Management (M) Sdn. Bhd. on 2023-05-09Currency and venue are not specified; per-share price is not stated; the reported total uses an unqualified dollar sign. As disclosed: Sell
Notice of ceasing to be a substantial holder ↗ | SaleFully paid ordinary shares | 38,094 | — | — | 1,395,601 |
| 2023-05-09 | Pheim Asset Management (M) Sdn. Bhd.
Details & evidence for Pheim Asset Management (M) Sdn. Bhd. on 2023-05-09Currency and venue are not specified; per-share price is not stated; the reported total uses an unqualified dollar sign. As disclosed: Sell
Notice of ceasing to be a substantial holder ↗ | SaleFully paid ordinary shares | 35,557 | — | — | 1,433,695 |
| 2023-05-09 | Pheim Asset Management (M) Sdn. Bhd.
Details & evidence for Pheim Asset Management (M) Sdn. Bhd. on 2023-05-09Currency and venue are not specified; per-share price is not stated; the reported total uses an unqualified dollar sign. As disclosed: Sell
Notice of ceasing to be a substantial holder ↗ | SaleFully paid ordinary shares | 75,618 | — | — | 1,469,252 |
| 2023-05-08 | Pheim Asset Management (M) Sdn. Bhd.
Details & evidence for Pheim Asset Management (M) Sdn. Bhd. on 2023-05-08Currency and venue are not specified; per-share price is not stated; the reported total uses an unqualified dollar sign. As disclosed: Sell
Notice of ceasing to be a substantial holder ↗ | SaleFully paid ordinary shares | 641,123 | — | — | 1,544,870 |
| 2023-05-08 | Pheim Asset Management (M) Sdn. Bhd.
Details & evidence for Pheim Asset Management (M) Sdn. Bhd. on 2023-05-08Currency and venue are not specified; per-share price is not stated; the reported total uses an unqualified dollar sign. As disclosed: Sell
Notice of ceasing to be a substantial holder ↗ | SaleFully paid ordinary shares | 91,590 | — | — | 2,185,993 |
| 2023-05-08 | Pheim Asset Management (M) Sdn. Bhd.
Details & evidence for Pheim Asset Management (M) Sdn. Bhd. on 2023-05-08Currency and venue are not specified; per-share price is not stated; the reported total uses an unqualified dollar sign. As disclosed: Sell
Notice of ceasing to be a substantial holder ↗ | SaleFully paid ordinary shares | 85,483 | — | — | 2,277,583 |
| 2023-05-08 | Pheim Asset Management (M) Sdn. Bhd.
Details & evidence for Pheim Asset Management (M) Sdn. Bhd. on 2023-05-08Currency and venue are not specified; per-share price is not stated; the reported total uses an unqualified dollar sign. As disclosed: Sell
Notice of ceasing to be a substantial holder ↗ | SaleFully paid ordinary shares | 181,804 | — | — | 2,363,066 |
| 2023-05-05 | Pheim Asset Management (M) Sdn. Bhd.
Details & evidence for Pheim Asset Management (M) Sdn. Bhd. on 2023-05-05Currency and venue are not specified; per-share price is not stated; the reported total uses an unqualified dollar sign. As disclosed: Sell
Notice of ceasing to be a substantial holder ↗ | SaleFully paid ordinary shares | 85,501 | — | — | 2,544,870 |
| 2023-05-03 | Pheim Asset Management (M) Sdn. Bhd.
Details & evidence for Pheim Asset Management (M) Sdn. Bhd. on 2023-05-03Currency and venue are not specified; per-share price is not stated; the reported total uses an unqualified dollar sign. As disclosed: Sell
Notice of ceasing to be a substantial holder ↗ | SaleFully paid ordinary shares | 73,962 | — | — | 2,630,371 |
| 2023-03-31 | Pheim Asset Management (M) Sdn. Bhd.
Details & evidence for Pheim Asset Management (M) Sdn. Bhd. on 2023-03-31Currency and venue are not specified; per-share price is not stated; the reported total uses an unqualified dollar sign. As disclosed: Sell
Notice of ceasing to be a substantial holder ↗ | SaleFully paid ordinary shares | 390,000 | — | — | 2,704,333 |
| 2023-03-31 | Pheim Asset Management (M) Sdn. Bhd.
Details & evidence for Pheim Asset Management (M) Sdn. Bhd. on 2023-03-31Currency and venue are not specified; per-share price is not stated; the reported total uses an unqualified dollar sign. As disclosed: Sell
Notice of ceasing to be a substantial holder ↗ | SaleFully paid ordinary shares | 260,000 | — | — | 3,094,333 |
| 2023-03-30 | Pheim Asset Management (M) Sdn. Bhd.
Details & evidence for Pheim Asset Management (M) Sdn. Bhd. on 2023-03-30Currency and venue are not specified; per-share price is not stated; the reported total uses an unqualified dollar sign. As disclosed: Sell
Notice of ceasing to be a substantial holder ↗ | SaleFully paid ordinary shares | 180,000 | — | — | 3,354,333 |
| 2023-03-30 | Pheim Asset Management (M) Sdn. Bhd.
Details & evidence for Pheim Asset Management (M) Sdn. Bhd. on 2023-03-30Currency and venue are not specified; per-share price is not stated; the reported total uses an unqualified dollar sign. The shares column is printed as “1200,00”; 120,000 is taken from the row’s votes-affected column. As disclosed: Sell
Notice of ceasing to be a substantial holder ↗ | SaleFully paid ordinary shares | 120,000 | — | — | 3,534,333 |
| 2023-03-29 | Pheim Asset Management (M) Sdn. Bhd.
Details & evidence for Pheim Asset Management (M) Sdn. Bhd. on 2023-03-29Currency and venue are not specified; per-share price is not stated; the reported total uses an unqualified dollar sign. As disclosed: Sell
Notice of ceasing to be a substantial holder ↗ | SaleFully paid ordinary shares | 180,000 | — | — | 3,654,333 |
| 2023-03-29 | Pheim Asset Management (M) Sdn. Bhd.
Details & evidence for Pheim Asset Management (M) Sdn. Bhd. on 2023-03-29Currency and venue are not specified; per-share price is not stated; the reported total uses an unqualified dollar sign. As disclosed: Sell
Notice of ceasing to be a substantial holder ↗ | SaleFully paid ordinary shares | 120,000 | — | — | 3,834,333 |
| 2023-03-09 | Pheim Asset Management (M) Sdn. Bhd.
Details & evidence for Pheim Asset Management (M) Sdn. Bhd. on 2023-03-09Currency and venue are not specified; per-share price is not stated; the reported total uses an unqualified dollar sign. As disclosed: Sell
Notice of ceasing to be a substantial holder ↗ | SaleFully paid ordinary shares | 500,000 | — | — | 3,954,333 |
| 2023-03-06 | Pheim Asset Management (M) Sdn. Bhd.
Details & evidence for Pheim Asset Management (M) Sdn. Bhd. on 2023-03-06Currency and venue are not specified; per-share price is not stated; the reported total uses an unqualified dollar sign. As disclosed: Sell
Notice of ceasing to be a substantial holder ↗ | SaleFully paid ordinary shares | 155,000 | — | — | 4,454,333 |
| 2023-01-01 | Pheim Asset Management (M) Sdn. Bhd.
Details & evidence for Pheim Asset Management (M) Sdn. Bhd. on 2023-01-01The notice labels this a change of investment manager. It changes Pheim reported relevant interest; the notice does not identify the successor manager or report an economic sale. As disclosed: Change of Investment Manager
Notice of ceasing to be a substantial holder ↗ | OtherFully paid ordinary shares | 20,114,133 | —Not Disclosed | — | 4,609,333 |
Disclosed holding observations24 dated positions
Initial, final and threshold notices describe positions; these are not counted as purchases or sales.
| Holding at | Person / group | Type / security | Quantity | Percentage |
|---|---|---|---|---|
| 2026-10-22 | Wonongarra Pty Ltd and John Andrew Henry Forrest
Details & evidence for Wonongarra Pty Ltd and John Andrew Henry Forrest on 2026-10-22Header change date is 22 October but source lists acquisitions through 26 October; position date retained as range. Forrest controls Wonongarra; interests overlap.
Change in substantial holding ↗ | PositionFully paid ordinary shares | 941,470,994 | 18.14%Voting Power |
| 2026-09-18 | Van Eck Associates Corporation
Details & evidence for Van Eck Associates Corporation on 2026-09-18State Street Bank and Trust Company is the registered custodian; the ETF is the person entitled to registration.
VanEck Rare Earth and Strategic Metals ETF · reported relevant interest through this ETF position VanEck Rare Earth and Strategic Metals ex China ETF · reported relevant interest through this ETF position VanEck Rare Earth and Strategic Metals UCITS ETF · reported relevant interest through this ETF position Becoming a substantial holder ↗ | PositionOrdinary shares | 173,035,408 | — |
| 2026-09-18 | Van Eck Associates Corporation
Details & evidence for Van Eck Associates Corporation on 2026-09-18State Street Bank and Trust Company is the registered custodian; the ETF is the person entitled to registration.
VanEck Rare Earth and Strategic Metals ETF · reported relevant interest through this ETF position VanEck Rare Earth and Strategic Metals ex China ETF · reported relevant interest through this ETF position VanEck Rare Earth and Strategic Metals UCITS ETF · reported relevant interest through this ETF position Becoming a substantial holder ↗ | PositionOrdinary shares | 302,904 | — |
| 2026-09-18 | Van Eck Associates Corporation
Details & evidence for Van Eck Associates Corporation on 2026-09-18State Street Custodial Services (Ireland) Limited is the registered depositary; the UCITS ETF is the person entitled to registration.
VanEck Rare Earth and Strategic Metals ETF · reported relevant interest through this ETF position VanEck Rare Earth and Strategic Metals ex China ETF · reported relevant interest through this ETF position VanEck Rare Earth and Strategic Metals UCITS ETF · reported relevant interest through this ETF position Becoming a substantial holder ↗ | PositionOrdinary shares | 103,861,518 | — |
| 2026-08-31 | CRONIMET Australia Pty Ltd and related bodies corporate
Details & evidence for CRONIMET Australia Pty Ltd and related bodies corporate on 2026-08-31The report's top-20 register data are as at 31 August 2026. This 131,868,132-share account balance is included in the 259,191,789-share CRONIMET group total and is not additive to that aggregate.
CRONIMET Asia Pte Ltd · Related entity named in the debt-to-equity share issue; its exact registered allocation is not stated CRONIMET Asia Pte Ltd · Upstream entity sharing the substantial-holder group's relevant interest CRONIMET Australia Pty Ltd · Registered holder of the group's EQR shares CRONIMET Australia Pty Ltd · Registered holder of the group's shares Annual Report to shareholders ↗ | PositionFully paid ordinary shares | 131,868,132 | 2.56%Issued Shares |
| 2026-08-31 | CRONIMET Australia Pty Ltd and related bodies corporate
Details & evidence for CRONIMET Australia Pty Ltd and related bodies corporate on 2026-08-31The report's top-20 register data are as at 31 August 2026. This 127,323,657-share account balance is included in the 259,191,789-share CRONIMET group total and is not additive to that aggregate.
CRONIMET Asia Pte Ltd · Related entity named in the debt-to-equity share issue; its exact registered allocation is not stated CRONIMET Asia Pte Ltd · Upstream entity sharing the substantial-holder group's relevant interest CRONIMET Australia Pty Ltd · Registered holder of the group's EQR shares CRONIMET Australia Pty Ltd · Registered holder of the group's shares Annual Report to shareholders ↗ | PositionFully paid ordinary shares | 127,323,657 | 2.47%Issued Shares |
| 2026-08-31 | CRONIMET Australia Pty Ltd and related bodies corporate
Details & evidence for CRONIMET Australia Pty Ltd and related bodies corporate on 2026-08-31The report states shareholder data are as at 31 August 2026. Page 115 reports 259,191,789 shares (5.03%) for CRONIMET Australia as substantial holder; page 116 shows the two account balances that sum to this group amount. This aggregate is not additive to the two account-level observations below.
CRONIMET Asia Pte Ltd · Related entity named in the debt-to-equity share issue; its exact registered allocation is not stated CRONIMET Asia Pte Ltd · Upstream entity sharing the substantial-holder group's relevant interest CRONIMET Australia Pty Ltd · Registered holder of the group's EQR shares CRONIMET Australia Pty Ltd · Registered holder of the group's shares Annual Report to shareholders ↗ Annual Report to shareholders ↗ | PositionFully paid ordinary shares | 259,191,789 | 5.03%Issued Shares |
| 2026-07-24 | Wonongarra Pty Ltd and John Andrew Henry Forrest
Details & evidence for Wonongarra Pty Ltd and John Andrew Henry Forrest on 2026-07-24Agreement transfers 35,555,556 options at completion on 24 July; no voting-power percentage is assigned to this option position.
Becoming a substantial holder ↗ Becoming a substantial holder ↗ | PositionUnlisted options exercisable at A$0.0675 expiring 29 May 2027 | 35,555,556 | — |
| 2026-07-17 | Wonongarra Pty Ltd and John Andrew Henry Forrest
Details & evidence for Wonongarra Pty Ltd and John Andrew Henry Forrest on 2026-07-17The reported 16.75% voting power and 862,131,779-share position are group-level interests of Wonongarra Pty Ltd and John Andrew Henry Forrest; they are not two additive positions.
Becoming a substantial holder ↗ | InitialFully paid ordinary shares | 862,131,779 | 16.75%Voting Power |
| 2026-03-18 | OCM Luxembourg Tungsten Holdings S.à r.l.
Details & evidence for OCM Luxembourg Tungsten Holdings S.à r.l. on 2026-03-18Position is OCM's; each Annexure A Oaktree holder is deemed to have the same interest and is not added again.
Bank of New York Mellon · Bank of New York Mellon holds the Sale Shares as custodian on OCM's behalf Notice of Change of Interests of Substantial Holder ↗ Notice of Change of Interests of Substantial Holder ↗ | PositionFully paid ordinary shares | 862,131,779 | 17.15%Issued Shares |
| 2025-12-18 | CRONIMET Australia Pty Ltd and related bodies corporate
Details & evidence for CRONIMET Australia Pty Ltd and related bodies corporate on 2025-12-18Current CRONIMET group position; listed affiliates share this relevant interest and are not additive.
CRONIMET Asia Pte Ltd · Related entity named in the debt-to-equity share issue; its exact registered allocation is not stated CRONIMET Asia Pte Ltd · Upstream entity sharing the substantial-holder group's relevant interest CRONIMET Australia Pty Ltd · Registered holder of the group's EQR shares CRONIMET Australia Pty Ltd · Registered holder of the group's shares Notice of Initial Substantial Holder ↗ Notice of Initial Substantial Holder ↗ | InitialFully paid ordinary shares | 259,191,789 | 5.64%Voting Power |
| 2025-11-21 | OCM Luxembourg Tungsten Holdings S.à r.l.
Details & evidence for OCM Luxembourg Tungsten Holdings S.à r.l. on 2025-11-21Position is OCM's; each Annexure A Oaktree holder is deemed to have the same interest and is not added again.
Bank of New York Mellon · Bank of New York Mellon holds the Sale Shares as custodian on OCM's behalf Notice of Change of Interests of Substantial Holder ↗ Notice of Change of Interests of Substantial Holder ↗ | PositionFully paid ordinary shares | 717,131,779 | 18.89%Issued Shares |
| 2025-09-09 | OCM Luxembourg Tungsten Holdings S.à r.l.
Details & evidence for OCM Luxembourg Tungsten Holdings S.à r.l. on 2025-09-09Group share count was unchanged; lower percentage reflects issuance of EQR shares to other holders. OCM and its Oaktree affiliates share the same relevant interest.
Bank of New York Mellon · Bank of New York Mellon holds the Sale Shares as custodian on OCM's behalf Notice of Change of Interests of Substantial Holder ↗ Notice of Change of Interests of Substantial Holder ↗ | PositionFully paid ordinary shares | 584,252,381 | 15.96%Voting Power |
| 2025-08-18 | OCM Luxembourg Tungsten Holdings S.à r.l.
Details & evidence for OCM Luxembourg Tungsten Holdings S.à r.l. on 2025-08-18Group position after the placement subscription. Oaktree affiliates report the same relevant interest.
Bank of New York Mellon · Bank of New York Mellon holds the Sale Shares as custodian on OCM's behalf Notice of Change of Interests of Substantial Holder ↗ Notice of Change of Interests of Substantial Holder ↗ | PositionFully paid ordinary shares | 584,252,381 | 18.90%Voting Power |
| 2025-05-29 | OCM Luxembourg Tungsten Holdings S.à r.l.
Details & evidence for OCM Luxembourg Tungsten Holdings S.à r.l. on 2025-05-29Group position at the notice's current date; other listed changes in this form are dilution-only and leave the count unchanged.
Bank of New York Mellon · Bank of New York Mellon holds the Sale Shares as custodian on OCM's behalf Notice of Change of Interests of Substantial Holder ↗ Notice of Change of Interests of Substantial Holder ↗ | PositionFully paid ordinary shares | 334,666,667 | 12.64%Voting Power |
| 2025-05-27 | CRONIMET Australia Pty Ltd and related bodies corporate
Details & evidence for CRONIMET Australia Pty Ltd and related bodies corporate on 2025-05-27The holder ceased to meet the substantial-holder threshold through dilution; this was not a sale. The form lists 127,323,657 shares in CRONIMET Australia, with related affiliates reporting the same relevant interest.
CRONIMET Asia Pte Ltd · Related entity named in the debt-to-equity share issue; its exact registered allocation is not stated CRONIMET Asia Pte Ltd · Upstream entity sharing the substantial-holder group's relevant interest CRONIMET Australia Pty Ltd · Registered holder of the group's EQR shares CRONIMET Australia Pty Ltd · Registered holder of the group's shares Ceasing to be a substantial holder ↗ Ceasing to be a substantial holder ↗ | PositionFully paid ordinary shares | 127,323,657 | — |
| 2024-12-24 | Zhui Pei Yeo
Details & evidence for Zhui Pei Yeo on 2024-12-24Yeo ceased to meet the substantial-holder threshold due to dilution from a company placement; the reported 113,898,154 shares were not sold.
Ceasing to be a substantial holder ↗ | PositionFully paid ordinary shares | 113,898,154 | — |
| 2024-09-23 | Zhui Pei Yeo
Details & evidence for Zhui Pei Yeo on 2024-09-23The 23 September register lists Yeo by name at 113,898,154 shares. No direct/indirect split is given. The identical quantity in the 14 August Form 603 supports continuity; this is a position snapshot, not a second acquisition.
2024 Annual Report ↗ Becoming a substantial holder ↗ | PositionFully paid ordinary shares | 113,898,154 | — |
| 2024-08-14 | OCM Luxembourg Tungsten Holdings S.à r.l.
Details & evidence for OCM Luxembourg Tungsten Holdings S.à r.l. on 2024-08-14OCM's group holding after the entitlement offer and subsequent dilution from company issuances; affiliates share the same relevant interest.
Bank of New York Mellon · Bank of New York Mellon holds the Sale Shares as custodian on OCM's behalf Change in substantial holding ↗ Change in substantial holding ↗ | PositionFully paid ordinary shares | 309,666,667 | 13.84%Voting Power |
| 2024-08-14 | Zhui Pei Yeo
Details & evidence for Zhui Pei Yeo on 2024-08-14Initial substantial-holder position. The 40,415,844-share issue is represented by a linked transaction record and is not duplicated in the holding snapshot.
Becoming a substantial holder ↗ | InitialFully paid ordinary shares | 113,898,154 | 5.09%Voting Power |
| 2024-07-29 | CRONIMET Australia Pty Ltd and related bodies corporate
Details & evidence for CRONIMET Australia Pty Ltd and related bodies corporate on 2024-07-29Initial relevant-interest position after the non-cash share issue. Affiliate rows refer to the same group interest; CRONIMET Australia is the registered and entitled holder. The 2025 Form 605 confirms the same count remained held when the group ceased to be substantial through dilution.
CRONIMET Asia Pte Ltd · Related entity named in the debt-to-equity share issue; its exact registered allocation is not stated CRONIMET Asia Pte Ltd · Upstream entity sharing the substantial-holder group's relevant interest CRONIMET Australia Pty Ltd · Registered holder of the group's EQR shares CRONIMET Australia Pty Ltd · Registered holder of the group's shares Becoming a substantial holder ↗ Becoming a substantial holder ↗ Becoming a substantial holder ↗ Ceasing to be a substantial holder ↗ | InitialFully paid ordinary shares | 127,323,657 | 5.81%Voting Power |
| 2024-01-18 | EQ Resources Limited
Details & evidence for EQ Resources Limited on 2024-01-18EQR's relevant interest arises from the escrow restriction over OCM's shares. The same 278,000,000 shares are represented in OCM's holding; do not add this observation to the OCM position.
OCM Luxembourg Tungsten Holdings S.à r.l. · Escrow arrangement restricted OCM's disposal power over the shares Notice of Initial Substantial Holder ↗ Notice of Initial Substantial Holder ↗ | InitialOrdinary shares | 278,000,000 | 15.00%Voting Power |
| 2024-01-18 | OCM Luxembourg Tungsten Holdings S.à r.l.
Details & evidence for OCM Luxembourg Tungsten Holdings S.à r.l. on 2024-01-18OCM registered holding; listed Oaktree affiliates report the same relevant interest and are not additive.
Bank of New York Mellon · Bank of New York Mellon holds the Sale Shares as custodian on OCM's behalf Notice of Initial Substantial Holder ↗ Notice of Initial Substantial Holder ↗ | InitialOrdinary shares | 278,000,000 | 15.00%Voting Power |
| 2023-08-01 | Pheim Asset Management (M) Sdn. Bhd.
Details & evidence for Pheim Asset Management (M) Sdn. Bhd. on 2023-08-01Derived final position at the reported cessation date from the 24,723,466-share October 2022 placement, the 1 January 2023 investment-manager change and all listed sells through 11 May 2023. The 605 does not state a final share count.
Notice of ceasing to be a substantial holder ↗ Notice of ceasing to be a substantial holder ↗ | FinalFully paid ordinary shares | 128,938 | — |
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Sign in or enter a guest codeChronological evidenceSource-document inventory37 documents
Tungsten price breaks records as China export curbs and military demand boost investment (mining.com)Commodity Data · MediumMetadata Only
Undated trade-press coverage (retrieved 31 October 2026) of record tungsten prices, China export licensing and defence demand; used for qualitative market context only. Search results elsewhere cited ex-China APT above US$3,000/mtu in April 2026, China limiting 2026-27 tungsten exporters to 15 firms, Chinese APT exports near zero in October customs data, and an ex-China deficit near 16,000 t WO3 in 2026 if all announced projects deliver on time.
- Document ID
- web_tungsten_market_20261031
- Published UTC
- 2026-10-30T23:30:00Z
- Projects
- —
- Commodities
- tungsten
Group 6 Metals (ASX: G6M) market statistics (StockAnalysis)Market Data · LowMetadata Only
Undated statistics page for Group 6 Metals, which resumed ASX trading on 30 July 2026 after an A$81.1m debt conversion; displayed market capitalisations conflict (A$25m to A$763m) so no value is used.
- Document ID
- web_g6m_20261031
- Published UTC
- 2026-10-30T23:30:00Z
- Projects
- —
- Commodities
- tungsten
EQR.AX last eligible ASX close on or before 31 October 2026 (miners.reference_price)Market Data · HighExtracted
Local ASX close A$0.29 on 30 October 2026 (volume 35.4m shares, high 0.305, low 0.28), market data provider via miners.collect_stock_prices stored in data/asx_mining_companies.db; fresh by one day. Raw close equals adjusted close.
- Document ID
- reference_price_20261030
- Published UTC
- 2026-10-29T23:30:00Z
- Projects
- barruecopardo · mt-carbine
- Commodities
- tungsten
Market snapshot for EQR (python -m miners.v8db.market_snapshot)Market Data · MediumExtracted
Local snapshot: 52-week range A$0.038-0.50; returns 1m -31.0%, 3m +13.7%, 12m +504%, 3y +314%; 20-day average traded value A$10.9m; AUD per USD 1.4407; no tungsten spot series and no peers in the stock database.
- Document ID
- market_snapshot_20261030
- Published UTC
- 2026-10-29T23:30:00Z
- Projects
- barruecopardo · mt-carbine
- Commodities
- tungsten
Quarterly Activities Report and Appendix 5B - quarter ended 30 September 2026Results · HighExtracted
Record quarter: revenue A$158.8m, EBITDA A$122.5m, operating cash flow A$75.6m, cash A$82.4m, 51,233 mtu produced and 49,715 mtu sold at US$2,248/mtu realised and US$483/mtu cash cost. First FY2027 guidance: 240,000-280,000 mtu, cash cost A$595-691/mtu, capex A$80-100m. Facilities drawn A$29.55m. Mt Carbine A$39m expansion on track for Q3 FY2027 commissioning; 10% interest in a US APT plant JV.
- Document ID
- sept_quarter_20261028
- Published UTC
- 2026-10-27T23:30:00Z
- Projects
- barruecopardo · mt-carbine
- Commodities
- tungsten
Notice of Annual General Meeting 2026Governance · LowExtracted
2026 AGM on 25 November 2026 (virtual); includes proposed option grant to the Managing Director at A$0.40 strike.
- Document ID
- agm_notice_20261027
- Published UTC
- 2026-10-26T23:30:00Z
- Projects
- barruecopardo · mt-carbine
- Commodities
- tungsten
Change in substantial holding - Wonongarra / A. ForrestGovernance · MediumExtracted
Wonongarra and A. Forrest hold 941,470,994 shares (18.14%) after buying 83,649,874 shares on market between 13 and 26 October 2026 for A$23.19m (about A$0.277 per share).
- Document ID
- substantial_holding_20261026
- Published UTC
- 2026-10-25T23:30:00Z
- Projects
- barruecopardo · mt-carbine
- Commodities
- tungsten
Appendix 2A - 3,730,123 shares (19 Oct 2026)Corporate Action · LowExtracted
3,730,123 shares quoted on conversion of performance rights (911,000), option exercises and other issues, issue date 16 Oct 2026.
- Document ID
- appendix_2a_20261019
- Published UTC
- 2026-10-18T23:30:00Z
- Projects
- barruecopardo · mt-carbine
- Commodities
- tungsten
Annual Report 2026 (year ended 30 June 2026)Results · HighExtracted
Audited FY2026 accounts with an unmodified opinion: revenue A$165.4m, EBITDA A$50.6m, NPAT A$7.1m, year-end cash A$28.2m, borrowings A$24.5m and equity A$154.3m after a recapitalisation that lifted shares on issue from 2.73bn to 5.12bn. Contains the 30 June 2026 resource and reserve statements for Barruecopardo and Mt Carbine, mine KPI tables, tenement schedules, the Regal royalty and Traxys prepayment notes, option and rights tables, remuneration report and register analysis at 31 August 2026.
- Document ID
- annual_report_2026
- Published UTC
- 2026-09-29T23:30:00Z
- Projects
- barruecopardo · mt-carbine
- Commodities
- tungsten
Appendix 2A - 6,768,515 shares (29 Sep 2026)Corporate Action · LowExtracted
6,768,515 shares quoted on option exercises, issue date 28 Sep 2026.
- Document ID
- appendix_2a_20260929
- Published UTC
- 2026-09-28T23:30:00Z
- Projects
- barruecopardo · mt-carbine
- Commodities
- tungsten
Appendix 2A - 8,054,603 shares (23 Sep 2026)Corporate Action · LowExtracted
8,054,603 shares quoted, issue date 22 Sep 2026.
- Document ID
- appendix_2a_20260923
- Published UTC
- 2026-09-22T23:30:00Z
- Projects
- barruecopardo · mt-carbine
- Commodities
- tungsten
Date of 2026 AGMGovernance · LowExtracted
Annual General Meeting to be held on Wednesday 25 November 2026.
- Document ID
- agm_date_20260921
- Published UTC
- 2026-09-20T23:30:00Z
- Projects
- barruecopardo · mt-carbine
- Commodities
- tungsten
Appendix 2A - 4,024,492 shares (21 Sep 2026)Corporate Action · LowExtracted
4,024,492 shares quoted, issue date 21 Sep 2026.
- Document ID
- appendix_2a_20260921
- Published UTC
- 2026-09-20T23:30:00Z
- Projects
- barruecopardo · mt-carbine
- Commodities
- tungsten
Appendix 2A - 2,125,000 shares (17 Sep 2026)Corporate Action · LowExtracted
2,125,000 shares quoted, issue date 17 Sep 2026.
- Document ID
- appendix_2a_20260917
- Published UTC
- 2026-09-16T23:30:00Z
- Projects
- barruecopardo · mt-carbine
- Commodities
- tungsten
EQR signs binding agreement for US APT plant JV (ASX announcement mirror, Market Index)Transaction · MediumMetadata Only
Binding agreement for EQR to take 10% of a joint venture with The Elmet Group (70%) and Blue Moon Metals (20%) to restart the 4,000 tpa Springer APT plant in Nevada; EQR additional capital exposure reported as capped near US$3.1m; feedstock priority for Springer; restart targeted 2H 2028. Terms are from a secondary mirror and news reports; the original ASX PDF was not available locally.
- Document ID
- web_apt_jv_20260915
- Published UTC
- 2026-09-14T23:30:00Z
- Projects
- barruecopardo
- Commodities
- tungsten
Appendix 2A - 2,504,376 shares (7 Sep 2026)Corporate Action · LowExtracted
2,504,376 shares quoted, issue date 4 Sep 2026.
- Document ID
- appendix_2a_20260907
- Published UTC
- 2026-09-06T23:30:00Z
- Projects
- barruecopardo · mt-carbine
- Commodities
- tungsten
Board appointments and governanceLeadership · MediumExtracted
Nicole Brook (ex Glencore/Xstrata Coal, Whitehaven director, AusIMM past president) appointed independent non-executive director 25 August 2026; Taki Dermedgoglou appointed as Wonongarra nominee.
- Document ID
- director_appointments_20260825
- Published UTC
- 2026-08-24T23:30:00Z
- Projects
- barruecopardo · mt-carbine
- Commodities
- tungsten
EQ Resources board updateLeadership · LowExtracted
Stephen Layton resigned effective 31 July 2026; search for an additional independent director well advanced.
- Document ID
- board_update_20260731
- Published UTC
- 2026-07-30T23:30:00Z
- Projects
- barruecopardo · mt-carbine
- Commodities
- tungsten
Quarterly Activities Report and Appendix 5B - quarter ended 30 June 2026Results · HighExtracted
Record June quarter revenue A$79m and operating cash flow A$22.5m; group production 28,315 mtu; Fastmarkets APT low price US$2,900/mtu at 30 June 2026; A$39m Mt Carbine expansion approved 3 June 2026 for Q3 FY2027 commissioning.
- Document ID
- june_quarter_20260728
- Published UTC
- 2026-07-27T23:30:00Z
- Projects
- barruecopardo · mt-carbine
- Commodities
- tungsten
Appointment and resignation of company secretaryLeadership · LowExtracted
Virna Trout (General Counsel) appointed company secretary on 23 July 2026; Tony Di Pietro resigned; registered office moved to Brisbane.
- Document ID
- company_secretary_20260723
- Published UTC
- 2026-07-22T23:30:00Z
- Projects
- barruecopardo · mt-carbine
- Commodities
- tungsten
Dr Andrew Forrest AO to acquire 16.8% of EQR from OaktreeTransaction · HighExtracted
Wonongarra Pty Ltd (Andrew Forrest) agreed to buy all Oaktree holdings: 862,131,779 shares and 35,555,556 options (about 16.8%). Shareholder rights including a board nominee transfer.
- Document ID
- forrest_oaktree_20260720
- Published UTC
- 2026-07-19T23:30:00Z
- Projects
- barruecopardo · mt-carbine
- Commodities
- tungsten
EQR Investor Presentation July 2026Presentation · MediumExtracted
Capital structure (5.14bn shares, 300m options), board and leadership, aspirational targeted production above 3,850 t WO3 per year (2,250 t Mt Carbine, above 1,600 t Barruecopardo; not a formal production target), reserve lives of 8 and 9 years, Mt Carbine expansion and Wolfram Camp historic foreign estimate (2.95 Mt at 0.279%).
- Document ID
- investor_presentation_20260714
- Published UTC
- 2026-07-13T23:30:00Z
- Projects
- barruecopardo · mt-carbine
- Commodities
- tungsten
EQR completes Mt Carbine exploration tenure transactionTransaction · LowExtracted
Completed purchase of Aus Critical Minerals and TTTP1 (about 353 km2, includes Mt White mining lease ML 20728) for A$900,000 cash plus 30m shares; Mt Carbine tenure rises to about 1,136 km2.
- Document ID
- acm_ttp1_20260710
- Published UTC
- 2026-07-09T23:30:00Z
- Projects
- mt-carbine
- Commodities
- tungsten
EQR welcomes increased strategic investment from the Elmet GroupEconomic Arrangement · MediumExtracted
Elmet exercised an option over 20m EQR shares, taking its holding to 23,652,634 shares; follows a five-year renewable concentrate offtake from Barruecopardo (announced 2 September 2024).
- Document ID
- elmet_investment_20260626
- Published UTC
- 2026-06-25T23:30:00Z
- Projects
- barruecopardo
- Commodities
- tungsten
Tenement acquisition supporting Mt Carbine hub strategyTransaction · LowExtracted
Binding agreement to acquire the Hodgkinson tenement package (about 365 km2, six EPMs) from Sunshine Metals for A$250,000.
- Document ID
- hodgkinson_20260609
- Published UTC
- 2026-06-08T23:30:00Z
- Projects
- mt-carbine
- Commodities
- tungsten
EQR ceases proposed acquisition of Tungsten Metals GroupTransaction · LowExtracted
EQR will not proceed with acquiring ferrotungsten producer Tungsten Metals Group; focus returns to Mt Carbine and Barruecopardo growth.
- Document ID
- tmg_cease_20260501
- Published UTC
- 2026-04-30T23:30:00Z
- Projects
- barruecopardo · mt-carbine
- Commodities
- tungsten
Quarterly Activities Report and Appendix 5B - quarter ended 31 March 2026Results · MediumExtracted
Weather-hit quarter: group production 23,505 mtu and realised price US$1,004/mtu; cash A$15.8m; Barruecopardo southern pit flooded.
- Document ID
- march_quarter_20260428
- Published UTC
- 2026-04-27T23:30:00Z
- Projects
- barruecopardo · mt-carbine
- Commodities
- tungsten
Almonty Industries (TSX: AII) market value report, 3 March 2026 (MarketBeat)Market Data · LowMetadata Only
Almonty, Korea-based Sangdong tungsten mine operator (commercial mining from December 2025; Phase II targets 460,000 mtu per year by 2027), valued near C$6.05bn on 3 March 2026 by a MarketBeat alert. Used only as the single listed tungsten peer with a dated value.
- Document ID
- web_almonty_20260303
- Published UTC
- 2026-03-02T23:30:00Z
- Projects
- —
- Commodities
- tungsten
Quarterly Activities Report and Appendix 5B - quarter ended 31 December 2025Results · MediumExtracted
Group production 28,834 mtu in Q1 FY2026 and 38,292 mtu in Q2 FY2026; realised prices US$374 and US$478/mtu; cash A$22m.
- Document ID
- dec_quarter_20260121
- Published UTC
- 2026-01-20T23:30:00Z
- Projects
- barruecopardo · mt-carbine
- Commodities
- tungsten
Clarification of Production Targets and Life of Mine PlansGuidance · HighExtracted
ASX-requested clarification that the 1,750 t (Mt Carbine) and above 1,600 t (Barruecopardo) WO3 per year figures are aspirational, not production targets or guidance; life-of-mine plans rest on Ore Reserves only (Barruecopardo 13.87 Mt at 0.136%, 9-year plan).
- Document ID
- clarification_20251212
- Published UTC
- 2025-12-11T23:30:00Z
- Projects
- barruecopardo · mt-carbine
- Commodities
- tungsten
EQR successfully undertakes A$34m equity raisingFinancing · HighExtracted
Placement of 680m shares at A$0.05 (A$34m) and conversion of A$7.25m Oaktree pre-royalty loan into 145m shares at A$0.05; proposed 2.5% NSR royalty on Saloro to be terminated.
- Document ID
- raising_20251205
- Published UTC
- 2025-12-04T23:30:00Z
- Projects
- barruecopardo · mt-carbine
- Commodities
- tungsten
Quarterly Activities Report and Appendix 5B - quarter ended 30 September 2025Results · LowExtracted
Group production 35,197 mtu in Q4 FY2025; cash A$11.5m at 30 September 2025.
- Document ID
- sept_quarter_20251031
- Published UTC
- 2025-10-30T23:30:00Z
- Projects
- barruecopardo · mt-carbine
- Commodities
- tungsten
Annual Report 2025 (year ended 30 June 2025)Results · MediumExtracted
FY2025 audited accounts under a going-concern qualification; used for the Regal Resources Royalties Fund terms (3% royalty on Mt Carbine, buy-back to 1.5%) and prior-year comparatives.
- Document ID
- annual_report_2025
- Published UTC
- 2025-09-29T23:30:00Z
- Projects
- mt-carbine
- Commodities
- tungsten
EQR appoints Craig Bradshaw as Managing DirectorLeadership · MediumExtracted
Craig Bradshaw (ex CEO Masan High-Tech Materials, Nui Phao; ex MD H.C. Starck Tungsten Powders) became Managing Director from 1 October 2025.
- Document ID
- md_appointment_20250918
- Published UTC
- 2025-09-17T23:30:00Z
- Projects
- barruecopardo · mt-carbine
- Commodities
- tungsten
EQR announces successful A$22.5m institutional placementFinancing · HighExtracted
Placement of 703.125m shares at A$0.032 to raise A$22.5m; 132.879m shares to Oaktree subject to approval.
- Document ID
- placement_20250903
- Published UTC
- 2025-09-02T23:30:00Z
- Projects
- barruecopardo · mt-carbine
- Commodities
- tungsten
Quarterly Activities Report and Appendix 5B - quarter ended 30 June 2025Results · LowExtracted
Group production 36,322 mtu in Q3 FY2025 and 35,187 mtu in Q4 FY2025.
- Document ID
- june_quarter_20250731
- Published UTC
- 2025-07-30T23:30:00Z
- Projects
- barruecopardo · mt-carbine
- Commodities
- tungsten
Quarterly Activities Report and Appendix 5B - quarter ended 31 March 2025Results · LowExtracted
Group production 42,292 mtu in Q2 FY2025 and 36,710 mtu in Q3 FY2025 (later restated to 36,322).
- Document ID
- march_quarter_20250430
- Published UTC
- 2025-04-29T23:30:00Z
- Projects
- barruecopardo · mt-carbine
- Commodities
- tungsten
Evidence facts53
165439000 AUD
2026-06-3050576000 AUD
2026-06-307113000 AUD
2026-06-3028180000 AUD
2026-06-3024506000 AUD
2026-06-3012286000 AUD
2026-06-3010804000 AUD
2026-06-3011227000 AUD
2026-06-305115488534 shares
2026-06-302727672193 shares
2025-06-3020.22 Mt at 0.193% WO3 (3,894,372 mtu) text
2026-06-3012.16 Mt at 0.13% WO3 (1,617,504 mtu) text
2026-06-3040.80 Mt at 0.220% WO3 (9,061,430 mtu) text
2026-06-3013.85 Mt at 0.15% WO3 (2,120,748 mtu) text
2026-06-3090666 mtu
2026-06-3028280 mtu
2026-06-30-29700000 AUD
2025-06-303 %
2025-06-3051233 mtu
2026-09-302248 USD/mtu
2026-09-30483 USD/mtu
2026-09-3082384000 AUD
2026-09-3029550000 AUD
2026-09-30240000 mtu
2027-06-30280000 mtu
2027-06-30A$80-100 million text
2027-06-3075568000 AUD
2026-09-3028315 mtu
2026-06-302900 USD/mtu
2026-06-3023505 mtu
2026-03-311004 USD/mtu
2026-03-3138292 mtu
2025-12-3128834 mtu
2025-09-30478 USD/mtu
2025-12-31374 USD/mtu
2025-09-3035197 mtu
2025-06-3036322 mtu
2025-03-3142292 mtu
2024-12-31>3,850 t WO3 per year text
2026-07-148 years
2026-07-149 years
2026-07-1413.87 Mt at 0.136% WO3 for 1,890,888 mtu text
2025-06-3023652634 shares
2026-06-26862131779 shares
2026-07-17941470994 shares
2026-10-2218.14 %
2026-10-220.032 AUD/share
2025-09-030.05 AUD/share
2025-12-05250000 AUD
2026-06-09900000 AUD
2026-07-100.29 AUD/share
2026-10-301.4407 AUD/USD
2026-10-301503316348 AUD
2026-10-30Conflicts requiring judgment1
- FY2025 EBITDA
The financial review table (and segment note) gives FY2025 EBITDA of negative A$9.5m while narrative text in the same report says negative A$29.7m. The table reconciles to the segment note, so the table value is used.