EQ Resources Advances Dual-Pronged Tungsten Strategy with Major Expansion and Fresh Capital
Published on 06/23/2026 at 17:01 | Redaktion boerse-global.de
The Australian tungsten producer EQ Resources is pressing ahead on two fronts — scaling up its flagship Mt Carbine operation in Queensland while making headway at its Spanish mine. The company's board has greenlit a 39 million Australian dollar expansion at Mt Carbine that will double crushing capacity from one million to two million tonnes per year, with full commissioning targeted for the third quarter of fiscal 2027. Management intends to fund the project from operating cash flows, leaning on the current strength in tungsten prices.
Alongside that long-range growth plan, EQ Resources has strengthened its capital base through the issue of over 1.5 million new ordinary shares. The bulk of the new stock comes from an employee incentive programme, while investors snapped up a further 500,000 shares at 0.10 AUD apiece. The capital injection is designed to support the company’s broader growth ambitions as it seeks to maximise the value of its existing mine portfolio.
In Spain, the operational focus is shifting to higher-grade zones. The team at the Barruecopardo open-pit mine has cleared key hurdles to access the fifth phase of the deposit, which holds an estimated 1.03 million tonnes of tungsten ore. Drilling is also under way to expand the resource base. Management believes that improved ore quality will lift processing efficiency and boost recoveries, directly feeding through to profitability. The mine is considered one of Europe’s most significant tungsten projects and offers a Western alternative to dominant Chinese supply.
Should investors sell immediately? Or is it worth buying EQ Resources?
The market’s response has been mixed in the short term. EQ Resources shares closed Monday at 0.29 AUD, having climbed around 11% over the previous week and well above the recent low of 0.20 AUD. However, profit-taking on Tuesday knocked the stock back by nearly 8% to 0.27 AUD, which remains above its 50-day moving average of 0.26 AUD. The share issuance increased liquidity, and the dual growth narrative continues to attract attention.
Tungsten is classified as a critical mineral due to its extreme hardness and heat resistance, making it indispensable for cutting tools, industrial machinery and defence applications. With global supply heavily concentrated, producers outside the dominant producing regions are gaining strategic importance. EQ Resources offers investors direct exposure to the metal through two producing mines — Mt Carbine in Australia and Barruecopardo in Spain.
Beyond the current projects, the company is evaluating acquisition opportunities in the critical minerals space and working to convert resources into reserves. While mining stocks remain cyclical and sensitive to commodity trends, the long-term demand outlook for tungsten provides a solid underpinning. The focus now rests on disciplined execution and building a steady production flow from both assets.
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