Australia's EQ Resources rises on govt nod for $16.9 mln Oaktree investment

EQ Resources

21/12/2023 02:53

** Shares of EQ Resources  EQR.AX  rise as much as 5.4% to
A$0.059, their highest level since Dec. 14
    ** The tungsten miner says Australian Government Foreign
Investment Review Board (FIRB) issued 'no objection
notification'
    ** FIRB approval for A$25 mln ($16.86 mln) investment in EQR
by funds managed by U.S.-based global asset manager Oaktree
Capital Management, L.P
    ** Near 1.7 mln shares change hands as of 0248 GMT, vs
30-day average volume of 882,695 shares
    ** Stock up 16.7% YTD as of last close

($1 = 1.4830 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com))