EQ Resources announce that the commissioning of the upgraded power line at the Mt Carbine site has been completed. The upgrade has allowed the XRT Sorter to operate on a 24-hour basis and led the Company to achieve a new monthly production record of tungsten concentrate from its rejuvenated Mt Carbine mine, 130 km north-west of Cairns. A successful debottlenecking strategy and Early Works investment targeting the crushing, screening and XRT sorting capacity contributed to the production of a record >40 tonnes of 50% WO 3 concentrate in December 2021, showing the positive impact of the continuous improvements at Mt Carbine.

EQR and its Joint Venture ("JV") partner, global metals group Cronimet, began re-commissioning the historical processing plant in 2020, with a further significant investment to upgrade the processing capacity at Mt Carbine early in 2021 as part of the staged development plan for the site. The JV has also integrated advanced Tomra XRT ore-sorting technology into the crushing and screening flowsheet with the dual target of producing a WO 3 concentrate and creating a barren green aggregate by-product stream from waste rock from the ore-sorting process. Extensive field-based test work was conducted throughout 2021, with a tenfold upgrade in the low- grade ore achieved consistently over production trials.