Australia's EQ Resources ascends on $124 million tungsten offtake agreements

EQ Resources

19/03/2025 24:34

** Shares of EQ Resources EQR.AX rise 9.5% to A$0.046, their highest level since March 7

** Tungsten miner says it entered into five long-term offtake agreements covering the next 24 months production from both its tungsten operations in Australia and Spain

** Total value of these agreements is estimated to be $124 million, says EQR

** Adds that contracts have been executed with international tungsten consumers

** Stock rose as much as 14.3% earlier in the day, marking its biggest intraday gain since Feb. 5

** EQR up 9.5% YTD

 (Reporting by Adwitiya Srivastava in Bengaluru)

 ((Adwitiya.Srivastava@thomsonreuters.com))