EQ Resources Delivers Record Quarter and Expands Tungsten Territory in Queensland
Published on 07/09/2026 at 06:25 | Redaktion boerse-global.de
EQ Resources capped its 2025/26 financial year with a standout fourth quarter, booking A$79 million in revenue — a 140% jump from the previous three months — while simultaneously closing in on a strategic acquisition that will swell its landholdings in Queensland by nearly half. The dual catalysts of higher sales volumes and rising tungsten prices underpinned the performance, and the company’s expansion push signals confidence in the metal’s long-term demand, particularly from defence and precision engineering sectors.
The quarter’s output was powered by both of the group’s operating mines. At the Mt Carbine site in Australia, production reached 13,050 metric ton units (mtu) of tungsten, the highest since early 2024 and a 175% sequential increase, with total material moved hitting 1.1 million tonnes. In Spain, the Barruecopardo mine set a record of its own, shifting 2.52 million tonnes from the northern open pit, while a team reopened the southern pit following severe weather. That area contains 1.2 million tonnes of ore grading 0.186% tungsten trioxide. Spanish quarterly production came in at 15,265 mtu.
Revenue from the full year totalled A$160 million, up 142% year-on-year. Cash on hand rose 82% quarter-over-quarter to A$28 million, giving the company ample firepower for its expansion plans. And those plans are substantial: EQ Resources is acquiring two exploration firms for A$900,000 in cash and 30 million of its own shares, a deal expected to close on 10 July. The purchase adds 353 square kilometres of prospective ground in Queensland, expanding the Mt Carbine district by roughly 45% to about 1,136 square kilometres, with applications pending for an additional 824 square kilometres.
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As part of the transaction, the company gains the Mt White mining licence, located 67 kilometres from its existing processing plant. Surface stockpiles of tungsten ore at Mt White could be fed into the mill with minimal lead time, aligning with management’s hub-and-spoke strategy. Chief executive Craig Bradshaw described the move as disciplined, and noted that medium-term plans call for a doubling of processing capacity at Mt Carbine.
The market took a measured view of the news. Shares eased 7% to A$0.27 on the day of the announcement, though the stock has climbed nearly 18% over the past month and currently trades about 3% above its 50-day moving average. Over the past year, the stock sits 46% above its low of A$0.20 but remains 24% below the high of A$0.38.
EQ Resources is expected to release its full quarterly report for June 2026 later this month, offering more granular detail on operational metrics and the next phase of its growth strategy.
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