As far as ASX companies are concerned, Forwood said the tungsten market would be one to watch, having completed a trip to EQ Resources’ (ASX:EQR) Barruecopardo mine in Spain.
“Tungsten is a very interesting market. The EQ guys say there’s much more demand than supply for their concentrate,” he said.
“Traders are ringing up saying … we’ll take anything.
“But the price really hasn’t moved, so there’s a bit of a disparity there between what we’re seeing on the Metal Bulletin price and what’s being said in the market.
“It’s a turnaround story and I think EQR are doing a brilliant job in terms of increasing production and having wins across the board in terms of better recoveries of metal and more metal sales.”
EQR also owns the Mt Carbine mine in North Queensland and is planning to merge in a $13.5m deal with Vietnam ferrotungsten refiner Tungsten Metals Group, which pulled an IPO this year.
Other tungsten stocks on the ASX include Tungsten Mining (ASX:TGN), which owns the Mt Mulgine project in WA containing 259Mt of ore at 0.11% tungsten oxide and 270ppm molybdenum for 290,000t of WO3 and 71,000t of molybdenum metal. It also has 1Moz of gold among a host of metal by-products.
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Last
3.8¢ |
Change
0.001(2.70%) |
Mkt cap ! $107.9M | |||
| Open | High | Low | Value | Volume |
| 3.7¢ | 3.8¢ | 3.7¢ | $60.84K | 1.635M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 816404 | 3.7¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 3.8¢ | 1622995 | 3 |
View Market Depth
| Last trade - 16.10pm 25/07/2025 (20 minute delay) ? |
| EQR (ASX) Chart |