Eq Resources Limited · ASX:EQR
Eq Resources — Shareholder Meeting (November 2024)
27 slides from Eq Resources's shareholder meeting presentation, Nov 29, 2024
Slide 1: EQ Resources Limited Annual General Meeting
EQ RESOURCES LIMITED Annual General Meeting 29th November 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), made available through the Company’s website www.eqresources.com.au/. • The Company confirms that it is not aware of any new i
Slide 3: 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, CEO since • Non-executive Director since August 2019, Chairman since April
Slide 4: Corporate Overview
Corporate Overview Key Statistics 2024 - To Date (Share Price Performance & Key Announcements) Share Price A$0.053 per share (20 Nov 2024) Securities on Issue Shares 2.24B / Options 155m 14 2 Market Capitalisation A$118.6 million Top 20 Shareholders >60% (9% Board/Management) 1 3 0.09 400 5 4 0.08 3
Slide 5: Health & Safety Performance
Health & Safety Performance Pro-active HSE culture through upskilling of employees Safety and Management teams continue to actively working to promote Take 5's 2023 - 2024 Positive Safety Indicator a “Think First”, pro-active safety culture across all EQR’s Operations 1,600 1353 1,400 Pro-active ind
Slide 6: ESG Commitment & Development Highlights
ESG Commitment & Development Highlights Read More on our ESG Commitments: Click 6
Slide 7: EQR Business Update
EQR Business Update Operations Update Industry partnerships and relationships driving • Spain: October record production with recovery rates up to 65-70% long term industry growth, vertical integration and (previously 38%). Focus on increasing throughput rates with sorter’s margin uplift performing
Slide 8: EQR Group WO3 Production – Update Q3 CY2024
EQR Group WO3 Production – Update Q3 CY2024 EQR Quarterly WO3 Production (1 mtu = 10kg WO3) from Q1 2023 60,000 50,000 40,000 mtus 30,000 20,000 10,000 0 Q1 - CY23 Q2 - CY23 Q3 - CY23 Q4 - CY23 Q1 - CY24 Q2 - CY24 Q3 - CY24 Saloro Mt Carbine 8
Slide 9: Last 12 Month Priorities – Status Update
Last 12 Month Priorities – Status Update ✓ EQR - Global Expansion and Collaboration: Emphasis on becoming an important global supplier of tungsten concentrate, expanding beyond Australia into operations in Spain with Barruecopardo. – Saloro acquisition,TMG Deal, Elmet Agreement Executed ✓ People, Sa
Slide 10: Tungsten - A Critical Metal
Tungsten - A Critical Metal EQR Is Unhedged, Provides Spot Price Exposure To a Tight Market EU: The Most Economically Important Critical Material Raw Materials EQR Consolidated Group Borate Niobium tWO3 Production Projections* Critical Graphite Scandium Non-critical PGMs Indium Beryllium 5,000 Targe
Slide 11: Summary Deal Terms - TMG Acquisition
Summary Deal Terms - TMG Acquisition • Acquisition Structure: EQR has executed a binding Heads of Agreement (HoA) to acquire 100% of the shares in Tungsten Metals Group Limited, and subsidiaries, including TMG Ferrotungsten Plant - Vietnam Mr. George Chen’s interest in Asia Tungsten Products Co Ltd,
Slide 12: TMG Acquisition - Strategic Rationale
TMG Acquisition - Strategic Rationale • Raw Materials Supply: The Vietnam facility is the largest tungsten smelter outside China. Prior success of the operations was limited by a lack of quality raw materials to produce FeW at scale. EQR resolves this by providing a stable supply chain from its tung
Slide 13: Market / Ferrotungsten (FeW) Product
Market / Ferrotungsten (FeW) Product Tungsten supply chain (simplified): • FeW market representing approx. 15% of concentrate consumption • FeW capacity outside China very limited, higher dependency on China for FeW as compared to APT Outside of China, the main consumers of FeW are steelmakers locat
Slide 14: FeW Production & Applications
FeW Production & Applications 14
Slide 15: Mt Carbine Operations Australia
Mt Carbine Operations Australia 15
Slide 16: Mt Carbine Operations
Mt Carbine Operations PROCUREMENT/FINANCE: - PRODUCTION: 58% 750,000+ of spending in Queensland tonnes ore mined 10.9% 1,400,000 of spending was international tonnes waste mined 650,000+ tonnes crushed 69,758 mtus recovered 43 blasts in FY2024 10,160 holes drilled JO) kilometres drilled 421,096 kilo
Slide 17: Mt Carbine Open Pit Operations
Mt Carbine Open Pit Operations Mt Carbine Open Pit Operations Objective: Access higher-grade tungsten ore in Iolanthe vein by stripping South Wall Fault. Current Status: Progressive grade increases during Eastern cutback ensure steady ore production during cut back – Johnson/Bluff. Outcome: Ramp up
Slide 18: Mt Carbine Production
Mt Carbine Production Doubling Plant Capacity Est. Completion Q4 FY2025 Monthly Throughput ** 166k tonnes 90-95% recovery 83k tonnes Processing Costs A$16.55 /tonne 85-90% recovery A$11.30 /tonne ** 18 *Nominal capacity ** Providing by-product revenue
Slide 19: Mt Carbine - Exploration & Underground Potential
Mt Carbine - Exploration & Underground Potential Iron Duke 2 North West Pit BFS Extension Pit 1 Resources Drilling to bring in more resources from inferred to indicated 2 Exploration Drilling Iron Duke zone Hole EQ026 1 5.95m@0.94% WO3 3 Hole EQ026 depth extents Resources: Extension Hole Indicated R
Slide 20: Underground potential - Two High Grade Zones
Underground potential - Two High Grade Zones To Be Investigated With Further Drilling Iron Duke Western Extensions
Slide 21: Saloro (Spain) as Latest Member of EQR Group
Saloro (Spain) as Latest Member of EQR Group
Slide 22: Saloro/Barruecopardo Operations
Saloro/Barruecopardo Operations SiS. = ty ro es = 125 1,5291\/92 employees, 200 direct jobs tonnes of ore mined created with contractors 100% 6,259,947 tonnes of waste mined permanent contract 24% 184 number of blaste in FY2024 women employees 136 S57 29 number of holes drilled 242.034 kilometres dr
Slide 23: Saloro - Recovery Optimisation 38% to +70%
Saloro - Recovery Optimisation 38% to +70% XRT Sorters Disruptive Technology in the Tungsten Market • Recovery is now consistently at +65% with up to 68% achieved. • Production is stabilised with concentrate output growing with continued optimisation and increasing throughputs. • XRT Sorters perform
Slide 24: Wolfram Camp – EQR Awarded EPM
Wolfram Camp – EQR Awarded EPM Opportunity & Strategic Rationale Wolfram Camp 5 Major Targets • Wolfram Camp awarded A$250,000 grant from the Queensland Government in partnership with University of Queensland and TOMRA for Ore Sorter trials and sampling More information See ASX Announcement 15 Octob
Slide 25: Corporate Priorities of Coming Months
Corporate Priorities of Coming 12 Months EQR - Corporate • Results of TMG DD and Completion of Deal – subject to DD & Terms • Identify opportunities for growth as a globally significant Tungsten raw materials supplier • Progress initiatives around energy efficiency and critical minerals traceability
Slide 26: Strictly Private and Confidential
26 Strictly Private and Confidential
Slide 27: 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