EQ Resources Ltd (ASX: EQR), a global tungsten producer with mining activities in Australia and Spain, has announced record cash generation and significantly higher production for the quarter ended 30 September 2026. The company, which focuses on expanding its world-class tungsten assets at Mt Carbine in Australia and Barruecopardo in Spain, reported substantial growth across its operations, reflecting robust demand and enhanced operational efficiency.
For the September quarter, EQ Resources recorded an impressive A$82.3 million in cash on hand, marking a considerable 192% increase quarter-on-quarter. Consolidated production reached 51,233 metric tonne units (mtu), an 81% rise from the previous quarter, representing the company’s second-highest quarterly production performance on record. This strong operational output translated into a record revenue of A$158.8 million from consolidated sales volumes of 49,715 mtu, a significant 101% quarter-on-quarter increase. The average realised price for the quarter stood at US$2,248 per mtu, up 20%.
Breaking down the performance by asset, the Barruecopardo operation in Spain delivered record production of 34,088 mtu for the quarter, a substantial 123% increase quarter-on-quarter. Sales volumes from Barruecopardo totalled 33,147 mtu, achieving an average realised price of US$2,333 per mtu. Concurrently, the Mt Carbine operation in North Queensland, Australia, contributed 17,145 mtu in production, representing a 31% increase from the prior quarter. Mt Carbine’s sales volumes reached 16,568 mtu, with an average realised price of US$2,110 per mtu.
The company’s release on 6 October 2026 highlighted these strong production and financial figures, which underscore the successful execution across both key mining assets. The reported increases in cash, production, sales, and revenue position EQ Resources positively moving forward.
