10 May 2024
10 May 2024
The investment will help generate data, maps and tools that will guide new discoveries and sustain the economy.
The loan facility is set to fast-track EQR’s expansion plans at the Mt Carbine Tungsten Mine.
For this deal, the company has agreed to pay C$1.5m ($1.1m) in cash and C$5.5m in Outback Goldfields shares.
The expansion equates to an additional 22.2 million tonnes (mt) and raises the consolidated reserve balance to 77mt.
These contracts are aimed at enhancing the project’s potential for battery-grade graphite production.
The approval allows the company to commence mineral exploration activities at the project.
This approval for the project is subject to conditions including a $5.1m reclamation performance bond.
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