Eq Resources Limited · ASX:EQR
Eq Resources — Investor Presentation (May 2025)
20 slides from Eq Resources's investor presentation, May 2025
Slide 1: EQ Resources Ltd - Investor Briefing May 2025
EQ RESOURCES LTD Globally Significant Tungsten Producer Investor Briefing May 2025 AS X : E Q R
Slide 2: Disclaimer
Disclaimer RESOURCES Competent Person's Statement + The information in this presentation partly relates to the outcomes of the Mt Carbine Bankable Feasibility Study Update (May 2023), made available through the Company's website Www.egresources.com.au/. + The Company confirms that it is not aware of
Slide 3: Board of Directors
Board of Directors Strong capital markets, operations and industry backgrounds Craig Bradshaw - Non-executive Director Oliver Kleinhempel - Executive Chairman Experienced global tungsten industry executive and Non-executive Chair since April 2020. Executive Chair former CEO of Masan High-Tech Materi
Slide 4: Executive Management Team
Executive Management Team Experienced Leadership Team driving Operations in both Australia and Spain Kevin MacNeill - Chief Technical Officer (EQR Group) Jonathan Kort - Chief Financial Officer (EQR Group) Former CEO (from January 2020), transitioned to CTO in Experienced global executive whose care
Slide 5: Corporate Development Milestones
Corporate Development Milestones Fast-track (re)development of Mt Carbine, efficient integration of Saloro and focused M&A 5
Slide 6: EQ Resources' Flagship Operations
EQ Resources’ Flagship Operations Historical mining assets as a source for critical minerals production Tier 1 jurisdiction producing tungsten assets, & Processing Plants Mt Carbine Open Pit with similar characteristics: ✓ Similar mineralogy: Both are hosted in sheeted quartz #1 ✓ Complementary geol
Slide 7: EQR Business Update
EQR Business Update Year-to-Date 2025 Operations Saloro • Delivered second-highest output since acquisition; $2.1m cashflow (Mar’25 Q) • Recoveries >60%, targeting ~70% with 3rd XRT Sorter (Sep’25 Q) Mt Carbine • Weather-impacted Mar’25 Q production (↓25.7% QoQ), significantly slow down in south- wa
Slide 8: Saloro 2024 Turnaround Success Story
Saloro 2024 Turnaround Success Story Focus on XRT Ore Sorting & recovery enhancement / Long-term offtakes as funding opportunities • Saloro operations transitioned under EQR’s management in Cash Positive within 9 months mid-January 2024, followed by a detailed metallurgical assessment throughout Q1
Slide 9: Saloro Project Profile - Technological Transformation
Saloro Project Profile - Technological Transformation XRT Ore Sorting as basis of Turnaround Program 9
Slide 10: Mt Carbine Transformation
Mt Carbine Transformation Re-development of historic Open Pit Mine in less than 5 years 2021 2022 2023 2024 10
Slide 11: Mt Carbine (Australia)
Mt Carbine (Australia) Accelerating access to high-grade lolanthe vein package and ramping towards 450ktpm mining rate Ore Block Model at current pit elevation (May 2025): Ramp-up Status • Mining rate now consistently above 200ktpm • Targeting 450ktpm by late CY2025 as final pre-strip unlocks Iolant
Slide 12: Mining - Blasting Sequence (May / June 2025)
Mining - Blasting Sequence (May / June 2025) Currently Mining (Early May 7 2025) 2 3 4 Mining in May 2025 6 1 Mining in June 2025 5 9 335-325 RL as transition zone 8 from low-grade to high-grade 0 (confirmed by 2024 RC Drill Program) Pic.1 Pic.1: Resources Block Model showing an extract of the ore b
Slide 13: Mt Carbine Project Profile - Significant Resource Upside
Mt Carbine Project Profile - Significant Resource Upside Long-term Development Targets Current Ore Reserves / Mine Planning covers only ~20% of the known Mineral Resources (JORC). 13
Slide 14: Value-add through Ecosystem Integration
Value-add through Ecosystem Integration EQR developed a vast network within the global tungsten ecosystem, establishing win-win-relationships • EQR management team specialises in Case study MASAN HIGH-TECH MATERIALS: development of mines and supply of ▪ Strategic Collaboration on commercial and tung
Slide 15: TMG Acquisition Progress
TMG Acquisition Progress Largest Ferrotungsten Plant outside of China (Capacity 4,000t FeW/a) Key Production Personnel • November 24 term sheet defined due diligence (DD) scope and fixed the enterprise value of A$13.5m • EQR completed main DD by end of March 25, with outstanding condition of product
Slide 16: Tungsten Market Fundamentals
Tungsten Market Fundamentals Critical applications in key industrial sectors / Non-Substitution / Supply side constraint 2024 End-Use Sectors: • Decades of expanding dependency on China resulted in a market where today 90% of tungsten raw materials originate from China and other non-transparent or c
Slide 17: Geopolitics as Price Catalyst
Geopolitics as Price Catalyst Policies in the US and China drive cost for tungsten products up • Export Control Measures put in place by China in February 25 on various tungsten products, as retaliation to the US tariffs on Chinese goods. • Chinese imports of Western tungsten raw materials up 100% i
Slide 18: Near Term Milestones / Value Catalysts
Near Term Milestones / Value Catalysts EQR – Corporate / M&A Results of TMG DD & final legals signed Q2 CY2025 Mt Carbine Completion of waste strip at south-wall (opening access to high-grade Iolanthe Vein Package at full width) Q3 CY2025 Doubling Plant Capacity implemented – with new funding partne
Slide 19: Significant Critical Mineral Producer
Y SIGNIFICANT CRITICAL MINERAL PRODUCER RESOURCES resourcing the new economy for a better tomorrow MT CARBINE TUNGSTEN MINE & QUARRYING OPERATIONS, AUSTRALIA AM CAMP EPM, AUSTRALIA 10 TUNGSTEN MINE, SPAIN 7 5) 5 3 Largest Strong Large Economic Vertical Established De-Risked Secured Advanced Environm
Slide 20: Follow us on
Corporate Contact: Investor Relations: Oliver Kleinhempel Peter Taylor Executive Chairman NWR Communications T: +61 438 542 260 T: +61 412 036 231 E: okleinhempel@eqresources.com.au E: peter@nwrcommunications.com.au Registered Office: Mt Carbine Office: Level 4, 100 Albert Road 6888 Mulligan Highway