Announcement PDF EQ RESOURCES LIMITED Investor Update / Webinar 09 October 2024 ASX : EQR Disclaimer Competent Person's Statement • The information in this presentation partly relates to the outcomes of the Mt Carbine Bankable Feasibility Study Update (May 2023) and most recent drilling announcements, made available through the Company’s website www.eqresources.com.au/. • The Company confirms that it is not aware of any new information that materially affects the information included in the corresponding market announcements and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements. General Disclaimer • The material contained in this document is a presentation of general information about the Company's activities current as at the date of this presentation. It is provided in summary and does not purport to be complete. You should not rely upon it as advice for investment purposes, as it does not take into account your investment objectives, financial position or needs. These factors should be considered, with or without professional advice, when deciding if an investment is appropriate. • This document may contain forward-looking statements with respect to the financial condition, results of operations, and business strategy of the Company. These forward-looking statements are based on estimates, projections and assumptions made by the Company about circumstances and events that have not yet taken place. Although the Company believes the forwardlooking statements to be reasonable, they are not certain. Forward-looking statements involve known and unknown risks, uncertainties and other factors that are in some cases beyond the Company's control, and which may cause actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements (and from past results). • The Company makes no representation or warranty as to the accuracy of any forward-looking statements in this document and undue reliance should not be placed upon such statements. • Forward-looking statements may be identified by words such as “aim”, “anticipate”, “assume”, “continue”, “could”, “estimate”, “expect”, “intend”, “may”, “plan”, “predict”, “should”, “will”, or “would” or the negative of such terms or other similar expressions that are predictions of or otherwise indicate future events or trends. The forward-looking statements included in this document speak only as of the date of this document. The Company does not intend to update the forward-looking statements in this document in the future. 2 Talking Points Corporate Update Mt Carbine Saloro Tungsten Market Dynamics 1. 2. 3. Wolfram Camp 3 Corporate Update EQR Group Monthly Average mtu : September Production Record 20,721 mtu* Share Price A$0.056 per share Securities on Issue Shares 2.24B / Options 205m Market Capitalisation A$ 125.3 million Top 20 Shareholders >60% (9% Board/Management) 0.070 370 0.060 360 0.050 350 0.040 340 0.030 330 0.020 320 0.010 310 0.000 300 EQR Share Price APT Price USD Share Price AUD Key Statistics APT Price * Source: FastMarkets APT Price Rotterdam (US$/mtu, mtu = 10kg WO3) Production Output EQR Group (monthly average, in mtu) *1mtu = 10kg WO3 See ASX Announcement: “Quarterly Tungsten Production at EQ Resources up 31%” Dated 02 October 2024 4 Mt Carbine Production Ore Grade and Operational Improvements Mt Carbine 2024 Monthly WO3 Production Ramp Up Crushing Plant / Ore Sorter Plant Throughput 12,000 100,000 11,000 90,000 10,000 80,000 9,000 70,000 8,000 60,000 Tonnes mtus 7,000 6,000 50,000 5,000 40,000 4,000 30,000 3,000 20,000 2,000 10,000 1,000 - Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 May-24 Jun-24 Crushing Plant Throughput Jul-24 Aug-24 Ore Sorter Plant Throughput Sep-24 5 Mt Carbine Updates Owner-Operator Model , Operations Update Mining Fleet ✓ Cat 90T Excavator x1 - On site & Commissioned ✓ 50T excavator x1 - On site & Commissioned ✓ Dump truck Volvo A60H 60 tonnes - On site & Commissioned ✓ Dump truck Bell B50 x2 - On site & Commissioned ✓ Dozer x2 – On site & Commissioned >0.2% WO3 ✓ Water Cart - On site & Commissioned ✓ Grader - On site & Commissioned Operations ✓ Day + Night shifts transition successful ✓ 12hrs operation successfully implemented ✓ 90t excavator → currently ramping up 10-12k tonnes / day ✓ Reporting + Accounts + Safety + HR department absorbed extra operations smoothly ✓ Technical service team keeping up existing system + implementing new procedures ✓ Maintenance team setting up maintenance schedule ongoing 6 Mt Carbine Updates Ore Grade and Operational Improvements 7 Mt Carbine Updates Ore Grade and Operational Improvements 8 Saloro Updates Grade Control, Processing and Recovery Improvements Saloro 2024 Monthly WO3 Production Ramp Up 11000 10000 mtu 9000 8000 7000 6000 5000 >0.2% WO3 4000 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 See ASX Announcement: “2024 Annual Report” Dated 30 September 2024 Jul-24 Aug-24 Sep-24 9 Tungsten Market Dynamics EQR production increase coincides with China tightening export control measures, US 25% tariff on Chinese tungsten products Current Production Run-Rate Reaches 17% of US Monthly Tungsten Imports, Narrowing Gap with China's 27% Share Good Timing For EQR Yearly Production To Be Ramping Up EQR Yearly Production Forecast 600,000 500,000 mtus 400,000 300,000 200,000 100,000 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 Saloro Mt Carbine See ASX Announcement: “Quarterly Tungsten Production at EQ Resources up 31%” Dated 02 October 2024 See Article: “80% of the world’s tungsten supply chain is owned by China but this may not last for much longer” 10 Wolfram Camp Updates EQR Identifies 5 Exploration Targets for Wolfram Camp Highlights: • Potential for Restart: Work program for 5 high-potential targets supports the redevelopment of Wolfram Camp. • Historical Resource: 2.95Mt @ 0.279% WO₃ remaining under EQR management. >0.2% WO3 • Supports Queensland’s Critical Minerals Strategy: Redevelopment aligns with EQR's growth strategy and Queensland’s Critical Minerals Strategy and Resources Industry Development Plan. • Low-Grade Stockpile: ~5 million tonnes of tungsten, molybdenum, and bismuth stockpiles available for immediate evaluation. See ASX Announcement: “EQR Identifies 5 Exploration Targets for Wolfram Camp” Dated 07 October 2024 11 Site Contact: Investor Relations: Kevin MacNeill Chief Executive Officer T: +61 438 542 260 E: kmacneill@eqresources.com.au Peter Taylor NWR Communications T: +61 412 036 231 E: peter@nwrcommunications.com.au Registered Office: Mt Carbine Office: Level 4, 100 Albert Road South Melbourne, VIC 3205 Australia E: info@eqresources.com.au 6888 Mulligan Highway, Mt Carbine Qld 4871 PO Box 1496, Mareeba Qld 4880 www.eqresources.com.au Linkedin Logo PNG, Linkedin Logo Transparent Background FreeIconsPNG Follow us on A white x on a black background Description automatically generated