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EQ Resources Limited (ASX:EQR)

ALERT: Price-sensitive ASX Announcement for EQR
Current share price for EQR : $0.393 0.173 (78.41%)+
Announcement
Release
20 Jul 2026 9:17AM
Price at Release
$0.220
Full Release
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Summary
Dr. Andrew Forrest AO, through his investment vehicle Wonongarra Pty Ltd, is acquiring a 16.8% stake in EQ Resources Limited (EQR) from Oaktree Capital Management. This transaction involves 862,131,779 fully paid ordinary shares and 35,555,556 options, marking a significant move for EQR as it shifts from a financial investor to a renowned figure in the Australian mining industry. The acquisition underlines EQR's strategic position as a leading tungsten supplier to Western supply chains, with mining operations in Australia and Spain. The transaction is at the shareholder level, leaving EQR's operations and management unaffected, while transferring certain shareholder rights, including board appointment rights. Both parties express mutual approval, with EQR's Managing Director, Craig Bradshaw, highlighting the continued growth strategy and thanking Oaktree for their foundational support.
Key Points
  • Dr. Andrew Forrest AO to acquire 16.8% of EQR from Oaktree.
  • Transaction involves 862,131,779 shares and 35,555,556 options.
  • EQR is a leading tungsten producer with operations in Australia and Spain.
  • Transaction maintains EQR's strategic position as a western tungsten supplier.
  • Change in ownership will not affect EQR's operations or strategy.
  • Shareholder rights, including board appointment rights, will transfer.
  • EQR appreciates Oaktree's support during a pivotal growth period.
  • Dr. Forrest's investment is an endorsement of EQR's growth strategy.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.