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Tungsten Project Revival Sparks Miner Stock Surge

15 Sep

Summary

EQ Resources joins venture to restart Nevada tungsten project.
EQ Resources' shares surged nearly 17% on the news.
The Springer tungsten project in Nevada will be revived.

Australian miner EQ Resources has announced a significant strategic move, agreeing to acquire a 10% stake in a joint venture. This partnership is aimed at restarting the Springer tungsten project located in Nevada. The venture also includes Nasdaq-listed Elmet Group and Blue Moon Metals.

Following this announcement on Tuesday, September 15, shares of EQ Resources experienced a notable surge. The company's stock climbed as much as 16.9%, reaching A$0.45 per share. This marks the highest valuation for EQ Resources' shares in 19 years, underscoring investor confidence in the project's revival.

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