EQ Resources Secures AU$34 Million Placement and AU$7.25 Million Debt Conversion to Strengthen Mt Carbine Growth Plan
EQ Resources Limited (ASX: EQR) has completed a major funding initiative, raising AU$34 million through a strongly supported placement at AU$0.05 per share, while also securing the conversion of AU$7.25 million in pre-royalty debt held by Oaktree into equity. The placement included 680 million new shares, issued under the Company’s existing capacity, with Directors committing to invest approximately AU$0.5 million subject to shareholder approval.
Funds will reduce trade payables, repay convertible notes, support development of the high-grade Iolanthe Vein at Mt Carbine, and provide working capital. Oaktree’s loan conversion eliminates a major liability and removes the need for the previously proposed royalty structure.
The combined equity raise and debt conversion significantly strengthen EQR’s balance sheet at a time when the Company is reporting record operational activity across its tungsten projects in Australia and Spain.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au
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EQ Resources Secures AU$34 Million Placement and AU$7.25 Million Debt Conversion to Strengthen Mt Carbine Growth Plan
EQ Resources Limited (ASX: EQR) has completed a major funding initiative, raising AU$34 million through a strongly supported placement at AU$0.05 per share, while also securing the conversion of AU$7.25 million in pre-royalty debt held by Oaktree into equity. The placement included 680 million new shares, issued under the Company’s existing capacity, with Directors committing to invest approximately AU$0.5 million subject to shareholder approval.
Funds will reduce trade payables, repay convertible notes, support development of the high-grade Iolanthe Vein at Mt Carbine, and provide working capital. Oaktree’s loan conversion eliminates a major liability and removes the need for the previously proposed royalty structure.
The combined equity raise and debt conversion significantly strengthen EQR’s balance sheet at a time when the Company is reporting record operational activity across its tungsten projects in Australia and Spain.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au