EQ Resources (ASX:EQR) reports ‘record’ quarterly sales of $79 million for the quarter ending 30 June 2026, marking a 140% increase quarter-on-quarter (QoQ).
The company says growth was driven by higher sales volumes and firming commodity prices. The Fastmarkets Ammonium Paratungstate (APT) low price reached US$3,000 ($4,326) per metric tonne unit (mtu) at quarter-end, representing a 7% QoQ rise.
For the full year ending 30 June, EQR sales totalled $160 million, up 142% year-on-year. Available cash on hand reached $28 million, representing an 82% QoQ increase and a 1,384% increase year-on-year, while accounts receivables stood at $17 million — up 13% QoQ.
Operations at the Mt Carbine Tungsten Mine in Queensland also achieved its highest quarterly production since Q1 FY2024, outputting 13,050mtu for a 175% QoQ increase.
EQR notes a ‘record’ 1.1 million tonnes (Mt) of material was moved during the quarter, including 255,000 tonnes of ore mined as access was gained to the Iolanthe Vein expansions. This represents a 165% QoQ increase.
At the Barruecopardo Tungsten Mine in Spain, mining in the northern pit reached a record 2.52Mt, which totals an 11% QoQ increase.
Meanwhile, dewatering of the southern pit following a 1-in-50-year rain event in Q3 enabled site teams to regain access to 1.2Mt of ore grading at 0.186% tungsten trioxide.
Production at Barruecopardo reached 15,265mtu for the quarter, and total annual production across the company was 118,946mtu.
EQR expects to release its full June 2026 quarterly activities within this month (July 2026).
EQ Resources is a global tungsten mining company focused on its assets in Australia and Spain.
Write to Paula Fabe at Mining.com.au
Images: EQ Resources
