EQ Resources (ASX:EQR) has extended the repayment date for a loan from shareholder and Director Mr. Zhui Pei Yeo, from 31 July 2023, to 31 July 2024.

The loan terms and conditions remain unchanged.

The company aims to create shareholder value through the exploration, and development of its mining and gold exploration licenses, while evaluating opportunities within the new economy, and critical minerals sector.

The loan will help EQ Resources continue its work developing tungsten assets at Mt Carbine in North Queensland, and carrying out gold exploration in New South Wales.