0.13 0.37 0.41 0.47 0.46 - 0.10 0.20 0.30 0.40 0.50 0.60 0.70 0.80 0.90 1.00 - 5,000 10,000 15,000 20,000 25,000 Q4 FY23* Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 %WO3 mtus Mt Carbine Quarterly Production** & Gravity Plant Feed Grade Tungsten Produced (mtu) Gravity Plant Feed Grade 77% 78% 79% 80% 81% 82% 83% 84% Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Mt Carbine Gravity Plant Recovery (%) Gravity Plant Recovery 0.13 0.37 0.41 0.47 0.46 - 0.10 0.20 0.30 0.40 0.50 0.60 0.70 - 5,000 10,000 15,000 Q4 FY23* Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 %WO3 mtus Tungsten Produced (mtu) Gravity Plant Feed Grade 77% 78% 79% 80% 81% 82% 83% 84% Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Mt Carbine Gravity Plant Recovery (%) Gravity Plant Recovery Linear (Gravity Plant Recovery) * for illustration purposes to compare before versus after processing Open Pit ore ** 50% EQR 50% Cronimet The quarterly average fee grade in the Gravity Plant improved from 0.12% WO3 in FY2023 to 0.37% WO3 for FY2024, thanks to the combination of a higher overall Head Feed grade processed in the Crushing Plant and an increase in the volume of Ore Sorter Product processed. The Phase 2 expansion continues to progress across the site, with significant developments at the Gravity Plant. A new mineral jig has been commissioned and installed in series with the existing jig for a boost in recovery. So far, the recovery has seen an overall increase of ~10%. The plant has received a second motor control centre, necessary for doubling plant capacity, that will be commissioned in late 2024. The Gravity Plant has maintained excellent operational metrics, achieving 93% availability and 82.2% run time. Fine ore being screened in a vibrating screen with new self-cleaning panels, ahead of the Mineral Jig at the Gravity Plant. EQ Resources Limited Annual Report 2024 41
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