EQ Resources generates record $158.8M revenue

• EQ Resources delivers record $158.8 million quarterly revenue as the tungsten miner experienced a 101% quarter-on-quarter revenue increase.
• Cash reserves jump 192% to $82.3 million as higher output and stronger sales drove significant cash accumulation during the period.
• Production expands across Australian and Spanish sites with surging output at Barruecopardo and Mt Carbine, supported by global tungsten delivery gains.

EQ Resources (ASX:EQR) posted a 101% quarter-on-quarter increase in quarterly revenue to a record $158.8 million for the period ended Sept. 30.

The revenue surge follows consolidated quarterly production reaching 51,233 mtu, marking an 81% quarter-on-quarter gain and the second-highest quarterly volume on record.

Since no executive quote was provided in the announcement text, this section continues directly into the operational developments across company operations.

Operational gains included a 123% production increase to 34,088 mtu at Barruecopardo, alongside Mt Carbine output rising 31% to 17,145 mtu.

Cash on hand rose 192% quarter-on-quarter to $82.3 million as average realised pricing improved 202,248 per mtu.

Following the announcement, the EQ Resources share price was unchanged at $0.39.

The company produces tungsten from its primary operating assets located across regional Australia and Spain.