EQ Resources has completed a US$15.1 million capital raise

EQ Resources Limited has raised US$15.1 million through a placement. The proceeds will support production and growth initiatives at Mount Carbine in North Queensland, Australia; improve the company’s debt position and creditor management; and provide additional working capital, as well as cover placement costs.

EQ Resources, listed on the Australian Securities Exchange (ASX:EQR), is focused on transforming its flagship tungsten assets at Mount Carbine. The company leverages advanced technology, historical stockpiles and unexploited resources with the objective of becoming a leading tungsten producer in Australia. In addition, EQ Resources holds gold exploration licenses in New South Wales.

Oaklins’ team in Australia acted as the joint lead manager to EQ Resources in the US$15.1 million placement, supporting the company throughout the capital raising process.