Sydney Mining Club Lunchtime forum

SPEAKERS:

Craig Bradshaw
Managing Director
EQ Resources (ASX:EQR)

EQ Resources (ASX:EQR) is a leading high-grade Tungsten producer, operating two of the largest tungsten projects globally outside of China: Mt Carbine in Queensland and Barruecopardo in Spain. The company provides a diversified, Western supply of this critical mineral, essential for the economies and national security of the USA, EU, and Australia.

EQR manages a massive combined resource base, providing the scale required to be a global leader:

• Mt Carbine (Australia): Anchored by a large resource base of 41.36 million tonnes (Mt) at 0.23% WO₃, containing approximately 9.4 million metric tonne units (mtu) of in-situ metal.
• Barruecopardo (Spain): Features a total resource of 21.49Mt at 0.19% WO₃, with 4.1 million mtu of in-situ metal, supporting a 9 -year reserve mine plan with expansion potential.

Tungsten is the hardest metal on earth with the highest melting point, making it irreplaceable in high-stress applications. Known as the defence metal, it is essential for use on the battlefield. Beyond that, its industrial applications include use in carbide drill bits as it is nigh on impossible to bore a tunnel or complete a drill hole without it.

Once a forgotten mine site in Far North Queensland, Mt Carbine has been transformed into one of the Western world’s most vital critical mineral assets. This resurgence is driven by an unprecedented rise in the Tungsten price, which reached record highs of US$900 per mtu by early 2026 following severe Chinese export restrictions. This pricing surge, combined with record-breaking production growth has seen EQR's share price hit decade highs and its market capitalisation soar past $1 billion AUD.

With over 1 million metric tons of waste already removed at Mt Carbine to unlock high-grade primary ore, EQ Resources is uniquely positioned to capitalise on the global race to shore up strategic supply chains.

Bryan Quinn
Managing Director and CEO
Aurelia Metals (ASX: AMI)

MD Bryan Quinn to present NSW’s multi-metal champion Aurelia Metals (ASX: AMI). Since its ASX listing in May 2007 Aurelia has written the textbook on how to be a wiley and growing producer in NSW. Our home state is ‘not the easiest’ jurisdiction and yet the Company has chiseled its way resourcefully with a chain of strong but modest operations and impressively, recently clocked a half-billion-dollar market cap.

It operates three underground mines at its two Cobar belt operations, Peak and Federation. There it is progressing the now- consented, high-grade copper Great Cobar development. At its 35,000 Ozpa Dargues Project gold production is in its farewell stages.

The Hera mine at Cobar, once backed by Sydney’s Pacific Road Capital, is now also closed with attention migrating to the Federation mine just 10km to its east. Savvy exploration over 105km of tenement in the prolific Cobar belt has offered up 21 drill ready targets in a field that has operated semi-continuously since green rocks were first noted in the 1870s. A great story for the ‘Premier State’ to celebrate.