EQ Resources Limited Annual Report 2024

Commissioning of the Tomra XRT Ore Sorter # 3 was finalised at the end of July 2023. It will replace the older model Tomra XRT Ore Sorter # 1, which will be refurbished. Boasting newer programming and increased efficiencies, the plant is already seeing the benefits of the upgrade, with an increased run time from around 50% in previous months to 74% in September. The Ore Sorter Plant has received another upgrade ahead of schedule, with significant upgrades to the software and ejection module of Tomra XRT Ore Sorter #2 currently in operation. These upgrades aim to increase the product grade and decrease by 75% the amount of air needed for the operation, saving a considerable amount of power. The benefit of this has been seen as a lower yield but a higher grade, optimising further downstream crushing. In the next financial year, the Tomra XRT Ore Sorter # 3 will also receive an upgrade of the ejection module, and the Ore Sorter Plant will benefit from the addition of a new Tomra XRT Ore Sorter #4. This will bring the total number of units operating to three and further reduce the risk of bottlenecking when the Crushing Plant Phase 2, with double the throughput, comes online. See ASX Announcement 11th April 2024: ‘Mt Carbine hits quarterly production record with XRT Sorter expansion well underway.’ Inside TOMRA Ore Sorter #2 showing the valve bank (left) and the end of the conveyor belt where the material gets ejected (right). Ore Sorter Strategy Proves Correct EQR’s strategic mine selection at Mt Carbine focuses on mining highly sortable ore to maximise efficiency and sustainability. Adopting ore sorting technology has enabled EQR to significantly enhance its operational efficiency by concentrating approximately 500,000 tonnes of crushed ore, sized 6-40mm, into 50,000 tonnes of high-grade ore. This high-grade ore retains 95% of the metal units and is directly fed into the Gravity Plant. By doing so, the Company avoids the unnecessary further crushing of 90% of the ore in this size fraction, which is predominantly barren. This not only reduces the initial need for a larger Gravity Plant but also reduces operational costs associated with energy, wear-and-tear on equipment, and minimises double-handling of materials and the need for additional equipment and labour. Additionally, reducing processing volume significantly decreases energy consumption and lowers greenhouse gas emissions, aligning with EQR’s commitment to sustainable mining practices and reducing the overall environmental impact. EQ Resources Limited Annual Report 2024 37

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