Slide 1: Mt Carbine – Quarterly Report & Mineral Resource Update Webinar
EQ RESOURCES LIMITED Mt Carbine – Quarterly Report & Mineral Resource Update Webinar August 9th, 2022 ASX : EQR
Slide 2: Disclaimer
Disclaimer Competent Person's Statement • The information in this presentation partly relates to the outcomes of the Mt Carbine Bankable Feasibility Study, the Quarterly Activities Report – Quarter ended 30 June 2022, and the Updated Mt Carbine Mineral Resources Estimate (August 2022), made availabl
Slide 3: Corporate Snapshot
Corporate Snapshot Value Proposition • Australia’s only primary producer of tungsten Share Price A$ 0.05 • Critical mineral classification Issued Shares 1,344m • Multiple revenue streams Market Capitalization A$ 67.2m Shareholding: • Low-cost / de-risked expansion - Top 20 holders 59.6% • Experience
Slide 4: Mt Carbine Phased Development Plan
Mt Carbine Phased Development Plan Development plan includes integration of open-cut and processing facility modernisation Simplified location plan of Mt Carbine Operations Phase 1 focuses on minimal capital expenditure, incremental improvements to increase the mine’s productivity and profitability
Slide 5: Mt Carbine Work Status & Production Progress
Mt Carbine Work Status & Production Progress 100%-owned by EQ Resources Imagery of the Mt Carbine process plant 5
Slide 6: Quarterly Highlights
Quarterly Highlights Achieving major milestone with the successful completion of the Mt Carbine Early Works Program, construction and commissioning of associated equipment and infrastructure done. Phase 1 Crushing and Screening Circuit Design Phase 1 Crushing and Screening Circuit Installed 6
Slide 7: Quarterly Highlights
Quarterly Highlights Two TOMRA XRT Sorters now fully operational for increased production efficiencies and doubling of sorting throughput. 7
Slide 8: Quarterly Highlights
Quarterly Highlights Queensland-based Golding Contractors signed for early-stage work on Mt Carbine Open Pit restart, with key outcomes of the early engagement including stakeholder engagement, equipment selection, final pit design and price finalisation. 8
Slide 9: Quarterly Highlights
Quarterly Highlights Continued development of ‘green aggregates’ business which turns inert waste rock into vital construction materials for Far North Queensland. Opening opportunities in the local and regional market as demand for recycled products increases. Beneficial Reuse of waste product p
Slide 10: Quarterly Highlights
Quarterly Highlights Continued focus on ESG commitments: ARTEH Participation (development of emissions reporting baseline) Mitchell River Watershed Management Group Sponsorship Mt Carbine Rodeo Sponsorship Looking to have personnel volunteer with the local Rural Fire Service 10
Slide 11: Quarterly Highlights
Quarterly Highlights Continued focus on Safety & Training: Increased first aid capabilities with 18 employees completing First Aid training 6 employee’s completed Supervisor Training 78 VOCs for mobile equipment were completed 38 employees signed up for a Government funded Certificate III in
Slide 12: Mt Carbine Mineral Resource Update – August 2022
Mt Carbine Mineral Resource Update – August 2022 100%-owned by EQ Resources Imagery of Mt Carbine drill core 12
Slide 13: Increased Tungsten in Mt Carbine Mineral Resource
Increased Tungsten in Mt Carbine Mineral Resource Successful Phase 1 2022 Drill Program & re-assessment of feed grade from BFS pit ? August 2022 Key take-aways: +85% • Success on Ore Sorting on 0.075% LGS Stockpile allows lower grade ore to be economic • Significant conversion from Inferred to Indic
Slide 14: Cut Off Effect on Ore Shapes
Cut Off Effect on Ore Shapes BFS Pit Design (December 2021) New Resource over BFS Pit Design Key take-aways: • Low-grade mineralised zones mined as per BFS pit now reporting into “ore / revenue” instead of waste • Potential to optimise extraction cost due to less selective mining required Indicated
Slide 15: Optimising the revised ore body
Optimising the revised ore body Section CC’ • Currently an update of the Reserves / BFS study is underway evaluating the BFS impact of the increased Indicated Pit Resources • Expecting more metal to be in a new pit design Optimising Different Pit Designs Indicated Resources Inferred Resources 15
Slide 16: Exploration Potential
Exploration Potential • Driving regional exploration • Continuously developing further drill targets * For further details refer to ASX Announcement dated 01 August 2022: Quarterly Activities and Cash Flow Report June 2022 16
Slide 17: Follow us on
Site Contact: Investor Relations: Kevin MacNeill Peter Taylor Chief Executive Officer NWR Communications T: +61 438 542 260 T: +61 412 036 231 E: kmacneill@eqresources.com.au E: peter@nwrcommunications.com.au Registered Office: Mt Carbine Office: Level 4, 100 Albert Road 6888 Mulligan Highway, South