Added to YB: 2026-04-10
Pitch date: 2026-04-08
EQR.AX [bullish]
EQ Resources Limited
Author Info
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Company Info
EQ Resources Limited explores for and produces tungsten and mineral resources in Australia. The company also explores for gold deposits.
Market Cap
AUD 1.7B
Pitch Price
AUD 0.35
Price Target
0.96 (+178%)
Dividend
N/A
EV/EBITDA
859.05
P/E
-51.25
EV/Sales
23.50
Sector
Metals and Mining
Category
value
Investment thesis EQ Resources Limited
EQR.AX: Leading independent Western tungsten producer with Mt Carbine (Australia) & Barruecopardo (Spain) mines. Tungsten APT price jumped from $330/mtu (2024) to $900/mtu (Jan 2026) on China export restrictions. H1 FY26 rev A$44M, losses cut to A$7M from A$24M. TMG acquisition adds ferrotungsten plant (4,000 tpa), enabling vertical integration. DCF values stock at A$0.95-0.97 vs current A$0.35 (60-70% discount). Risks: China flooding market, operational delays at Mt Carbine high-grade zone, customer concentration, dilution history.
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