Australia's EQ Resources slips on discounted placement

EQ Resources

05/12/2025 24:56

** EQ Resources EQR.AX slips as much as 20% to A$0.052; marks biggest intraday pct loss since May 22

** Stock hits lowest since November 26

** Tungsten miner secures A$34 mln ($22.5 mln) in firm commitments through share placement at 5 AU cents

** Issue price represents ~23% discount to last close

** Proceeds will fund Mt Carbine mine's push to high-grade Iolanthe Vein in Q1 2026, among others

** More than 35.5 shares traded, 2.1x the 30-day avg

** EQR last down 10.8%, taking weekly losses to 9.4%

($1 = A$1.5133)

 (Reporting by Kumar Tanishk in Bengaluru)

 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))