EQ Resources Limited is a mining company with the goal of bringing the new economy to life through their redevelopment of the historic Mt Carbine tungsten mine.

They recently completed the first $5 million drawdown from the Regal Resources Royalties Fund as part of a $10 million royalty-based funding package for the project.

The company has also received a $6 million grant from the Federal Government's Critical Minerals Accelerator Initiative, a financing package from Sandvik, a shareholder loan, offtake partner support, and $4.56 million raised via a share placement.

They are aiming to create a permanent workforce of more than 100 at Mt Carbine and are looking to expand the pit to the west and below.