Operating and Financial Review continued 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. 0 5000 10000 15000 20000 25000 - 50,000 100,000 150,000 200,000 250,000 300,000 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 mtus Tonnes Mt Carbine Mine Performance FY2024 Ore Extracted Tungsten Produced - Gravity Plant (mtu) Ore (Monthly t) - 100,000 200,000 300,000 400,000 500,000 600,000 700,000 Crushing Plant Sorter Plant (6-40mm) Gravity Plant to XRT Sorter unsorted to Gravity Plant Quarry Product (Inventory) 90% 10% - 100,000 200,000 300,000 400,000 500,000 600,000 700,000 Crushing Plant Sorter Plant (6-40mm) Gravity Plant to XRT Sorter unsorted to Gravity Plant Quarry Product (Inventory) 90% 10% 68% of crushed ore is barren 32% of crushed Tungsten-bearing ore is fed to the Gravity Plant Additional tailings reprocessed (green) Sorter Product (10% in orange) contains ~55% of total mtus recovered 38 EQ Resources Limited Annual Report 2024
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