More from Pac research . Comparison to Almonty we are only 21% to 25% of their value based on unit reserves.
EQR IS CHEAP RELATIVE TO PEER – ALMONTY INDUSTRIES
On a unit Reserves basis EQR is valued at only ~21% to 25% of Almonty’s implied capitalisation and implied Enterprise Value respectively. This implies EQR has 3 times or more upside relative to Almonty. Almonty has a grade advantage, however, its flagship development is an underground mine that generally need higher grades than open pit operations. High molybdenum in ore presents added challenges.
We note that Almonty also has > 40m in-money Warrants and Options outstanding that would dilute Almonty a further ~$70m or ~7% though it would strengthen its balance sheet.
Relative share price performance – Almonty Industries versus EQ Resources Big outperformance of Almonty industries of 172% since Dec 2025 Almonty does have risks to commission a new plant and recommission the underground Sangdon mine. EQR is primed to re-rate as production ramps up at Mt Carbine and the Saloro efficiencies drive higher profitability. EQR’s operations and mine performance improvements sees a lowering of risk profile.
EQR Price at posting:
3.4¢ Sentiment: Buy Disclosure: Held
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)