An update to the write up on the Sydney mining club site.
"EQ Resources is set to become a pre-eminent Australian tungsten producer by leveraging advanced technology, historical stockpiles, and unexploited resources at its Mt Carbine resource in North Queensland.
Discovered at the end of the 19th century and in large-scale production during the 1970s and 80s, Mt Carbine is still relatively unexplored with considerable exploration potential. To bring the resource back to production, EQ has completed UG environmental approvals, a bankable feasibility study ana upgrade of its gravity and crushing plants. Processing of the mineralised stockpile on site has already begun.
Over the next 12-24 months, EQ will ramp up its production from 500-650 tonnes a year to 3000-8000 tonnes, following which underground mining and the construction of an additional open pit will begin.
EQ has also established mine-to-ship logistics chain to ensure the project remains scalable and reliable over its multi-decade life and signed binding off-take agreement with strategically aligned global commodity trader CRONIMET."
Of note "and the construction of an additional open pit will begin."
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)