EQ Resources Limited generated group revenue of A$55.1 million in August 2026, matching its record financial performance from the previous month as consolidated tungsten production climbed to 19,068 metric tonne units.

The August output represents a 34% increase from July, when consolidated production stood at 14,255 metric tonne units and group revenue reached A$51 million. Group sales volumes for August totalled 17,246 metric tonne units at an average realised price of US$2,269 per metric tonne unit, subject to final assays and reconciliation.

The Barruecopardo project in Spain delivered 12,719 metric tonne units during the month, marking a 32% increase over July levels and setting a record for monthly production at the operation. Sales from Barruecopardo reached 10,566 metric tonne units, generating A$35.2 million in revenue at an average realised price of US$2,368 per metric tonne unit.

At the Mt Carbine operation in North Queensland, production reached 6,349 metric tonne units for August, up 38% compared to July. Sales volumes totalled 6,680 metric tonne units, generating A$19.9 million in revenue at an average realised price of US$2,113 per metric tonne unit.

The operational ramp-up follows a major ownership shift in July 2026, when an investment vehicle wholly owned by Andrew Forrest agreed to acquire a 16.8% interest in EQ Resources from Oaktree Capital Management for AU$189.7 million.

Looking to its wider corporate schedule, EQ Resources is pursuing a listing on the NASDAQ or New York Stock Exchange during 2027, subject to regulatory approvals and market conditions.

Read the full announcement: Record A$55m Revenue As Production Ramp Up Continues