Australia's EQ Resources heads for best week in 6 months on US tungsten JV stake buy
18/09/2026 04:49
BUZZ-Australia's EQ Resources heads for best week in 6 months on US tungsten JV stake buy ** Shares of EQ Resources EQR.AX on track for a 20% weekly gain, their best performance in more than six months
** Earlier this week, tungsten miner agreed to acquire a 10% stake in a US joint venture that plans to restart the Springer plant in Nevada that produces ammonium paratungstate, a key defence application material
** JV includes The Elmet Group (70% stake) and Blue Moon Metals
** Proposed deal would expand EQ's exposure to downstream tungsten processing in the US
** For the day, EQR rises as much as 3.3% to A$0.4700
** YTD, stock up over 450%
(Reporting by Paridhi Minda in Bengaluru)
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