Australia's EQ Resources falls to two-month low on scrapping Tungsten Metals acquisition plan

Tungsten Metals

01/05/2026 04:09

** Shares of EQ Resources EQR.AX fall as much as 13% to A$0.24, their lowest level since February 26

** Stock posts weekly loss of nearly 12%

** The tungsten miner says it will not proceed with acquisition of Tungsten Metals Group

** In November 2024, the company had announced its plans to acquire Tungsten Metals

** EQ Resources continues to focus on growing production from Mt Carbine and Barruecopardo operations

** About 55.2 million shares change hands, 1.5 times the 30-day avg

** EQ Resources stock up 192%, YTD

 (Reporting by Anjali Singh in Bengaluru)

 ((anjali.singh2@thomsonreuters.com;))