EQ Resources completed the acquisition of Saloro, a leading European tungsten producer, along with a $25 million placement with Oaktree Capital Management.

The transaction enhances the company's global tungsten operations, positioning it as a substantial supplier in strategic mining jurisdictions.

Key priorities for 2024 at Saloro include installing a second TOMRA XRT Sorter, optimising metallurgical recovery, pit mapping for mineralisation extensions, and structural reviews.

Continuous improvement initiatives in 2023 resulted in a 25% increase in monthly tungsten production and a 30% improvement in tungsten recovery.