Eq Resources Limited (ASX: EQR) has released preliminary production and financial results for the quarter ending 30 June 2026, highlighting significant operational milestones across its global tungsten portfolio. At the Mt Carbine project in Queensland, the company reported its highest production output since the first quarter of fiscal year 2024, reaching 13,050 metric tonne units (mtu). This increase was supported by a record 1.1 million tonnes of material moved, including 255,000 tonnes of ore mined as access to the Iolanthe Vein expanded.

Operations at the Barruecopardo site in Spain also saw notable progress. Despite previous operational challenges caused by extreme weather, the company successfully completed dewatering of the southern pit. Mining access to this area was regained on 4 July 2026, restoring access to an estimated 1.2 million tonnes of ore at a grade of 0.186%. Simultaneously, mining in the northern pit reached a record 2.52 million tonnes for the quarter. Total production from the Spanish operations reached 15,265 mtu.

Financially, the company reported record quarterly sales of A$79 million, driven by higher production volumes and a favorable price environment. By the end of the quarter, cash on hand had risen to A$28 million, representing an 82% increase.

Investors can expect further details regarding these results when the company releases its full June 2026 Quarterly Activities report later in July. This release will be followed by a management-hosted webcast to discuss the quarter's operational and financial outcomes in greater detail.

Read the full announcement: Platform set to capitalise on Record Price Environment