Eq Resources Limited · ASX:EQR
Eq Resources — Corporate Update (May 2024)
24 slides from Eq Resources's corporate update, May 9, 2024
Slide 1: EQ Resources Limited Investor Update / Webinar
EQ RESOURCES LIMITED Investor Update / Webinar 09 May 2024 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 Update (May 2023) and most recent drilling announcements, made available through the Company’s website www.eqresources.com.au/. • The Company con
Slide 3: Talking Points
Talking Points Corporate Update / QIC Funding Mt Carbine Drilling / UG Development Tungsten Market Dynamics 1. 2. 3. Take Aways 3
Slide 4: Corporate Update
Corporate Update Key Statistics 2023 - To Date (Share Price Performance & Key Announcements) Share Price A$0.05 per share Securities on Issue Shares 1.85B / Options 155m 3 2 Market Capitalisation A$ 92.5 million 1 5 Top 20 Shareholders >60% (9% Board/Management) 4 6 0.09 400 0.08 350 0.07 300 APT Pr
Slide 5: Consistent Board & Leadership Team
Consistent Board & Leadership Team Diverse and Experienced Board & Leadership Team Kevin MacNeill - Chief Executive Officer Oliver Kleinhempel - Non-executive Chairman • Interim CEO & Senior Technical Advisor since May 2019, • Non-executive Director since August 2019, Chair since CEO since January 2
Slide 6: QIC - $20M Facility For Mt Carbine Expansion
QIC - $20M Facility For Mt Carbine Expansion Queensland Investment Corporation (QIC) provides a $20million 3-year loan facility in two tranches from its Queensland Critical Minerals & Battery Technology Fund: • Tranche A: $12m will double processing capacity to 2mtpa and start underground drill test
Slide 7: Doubling of Plant Throughput Capacity
Doubling of Plant Throughput Capacity From a current 1mtpa to 2mtpa - initially planned for end 2025, now accelerated through QIC funding x2 As part of EQR’s transformation to become the largest independent tungsten raw material supplier outside China, the company realizes a 6.5-fold increase of con
Slide 8: Vertical Integration Opportunities
Vertical Integration Opportunities Tungsten Cluster - Australia EQR’s positioning as a leading source of responsibly mined & non-conflict tungsten concentrate provides the company with significant leverage: EQR Position in Global (ex-China/Russia) Producing Countries QUEENSLAND EQR Awarded Permit fo
Slide 9: Talking Points
Talking Points Corporate Update / QIC Funding Mt Carbine Drilling / UG Development Tungsten Market Dynamics 1. 2. 3. Take Aways 9
Slide 10: Mt Carbine Veins on the Pit face and Ore Grade
Mt Carbine Veins on the Pit face and Ore Grade Structure and Characteristics of the Andy White Open Pit Vein 0.05-0.1% >0.2% WO3 WO3 0.1-0.2% WO3
Slide 11: Geological Update - 'Phase 1 Pit' Understanding
Geological Update - ‘Phase 1 Pit’ Understanding CB001 CB001 CB005 CB004 Fig.2 - Above: Geo model incl. CB001 (red); Eliminated in latest update (below) Fig.1 - Top view of ‘Phase 1 Pit’ (Aug’23 - July’24), target ore in orange; 3 historical (pre-EQR times) in blue, CB001 was misplaced in survey Phas
Slide 12: Geological Update - 'Phase 2 Pit' Drilling
Geological Update - ‘Phase 2 Pit’ Drilling x3 Fig.1 - Drill areas in red: testing high-grade Iolanthe Zone and testing grade-vs-elevation model Successful drilling completed in April’24, testing vein consistency, ore grade for Phase 2 Pit and “grade-vs-elevation” model. Details see ASX announcement
Slide 13: Geological Update - 'Phase 2 Pit' Drilling
Geological Update - ‘Phase 2 Pit’ Drilling Infill RC Drilling at 10m spacing into the Iolanthe Vein System, confirming consistency of high-grade sections. Individual veins ranging with true widths of 0.3-2.5m were intersected at 0.5% to 3.66% WO3 grades. Interpretation confirms veins are increasing
Slide 14: Mt Carbine - Exploration & Underground Potential
Mt Carbine - Exploration & Underground Potential Iron Duke 2 1 Resources Drilling North West Pit • Target to bring in more BFS resources from Extension Pit inferred to indicated Exploration Drilling Iron 2 Duke zone Hole EQ026 1 5.95m@0.94% WO3 Hole EQ026 depth 3 extents Extension Hole Resources: In
Slide 15: Existing Decline and Underground Development
Existing Decline and Underground Development • AVOCA Mining method shown above • Historical pictures from 1986 of the existing decline on the right
Slide 16: Talking Points
Talking Points Corporate Update / QIC Funding Mt Carbine Drilling / UG Development Tungsten Market Dynamics 1. 2. 3. Take Aways 16
Slide 17: Tungsten - A Critical Metal of Global Relevance
Tungsten - A Critical Metal of Global Relevance Unique Properties, Without Substitution in Many Applications One of the Most Important Critical Materials according to European Commission Tungsten Market dominated by non-OECD members ▪ Tungsten is declared by the European Commission to be a “critical
Slide 18: Tungsten Uses & Market Outlook
Tungsten Uses & Market Outlook Raising Supply Concerns with Defence, Micro Electronics and Green Energy driving Demand “Purple tungsten oxide helps prolong “Reduced costs, increased efficiency “Tungsten demand to increase due to its lithium battery life.” key to wider use of tungsten filament.” key
Slide 19: Tungsten Market Dynamics
Tungsten Market Dynamics EQR is unhedged, provides spot price exposure to a tight market China Trade Balances National Security Project Delays May 2024 - Highest price in 12 • On November 30, 2023, the Ministry of National Security of China defines months with momentum tungsten a critical material,
Slide 20: Talking Points
Talking Points Corporate Update / QIC Funding Mt Carbine Drilling / UG Development Tungsten Market Dynamics 1. 2. 3. Take Aways 20
Slide 21: EQR Near Term Catalysts - Timeline
EQR Near Term Catalysts - Timeline Mt Carbine Operations Increasing scalping in the LGSP, bringing LGSP forward Q2 CY2024 Doubling Plant Capacity Q4 CY2024 24,000 meters drilling, to bring Inferred to Indicated Resources, new Ore Reserves announcement Q4 CY2024 BFS on the Underground Mining Q4 CY202
Slide 22: What We Care About
What We Care About Responsible and Sustainable Critical Mineral Production BENEFICIAL REUSE 22
Slide 23: A Globally Significant Tungsten Raw Materials Supplier
A Globally Significant Tungsten Raw Materials Supplier 23
Slide 24: 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