Business & Finance
Tungsten Miner’s Stock Jumps as Billionaire Forrest Buys Stake
Key Points
Tungsten Miner’s Stock Jumps as Billionaire Forrest Buys Stake EQ Resources Ltd. shares surged after mining billionaire Andrew Forrest agreed to acquire a 16.8% stake in the Sydney-listed tungsten producer from Oaktree Capital Management LP. The stock climbed as much as 32%, the most since February 2025, after the company said Forrest’s Wonongarra Pty Ltd. investment vehicle agreed to buy Oaktree’s entire holding in the firm. The deal covers about 862.1 million shares and 35.6 million...
Tungsten Miner’s Stock Jumps as Billionaire Forrest Buys Stake
EQ Resources Ltd. shares surged after mining billionaire Andrew Forrest agreed to acquire a 16.8% stake in the Sydney-listed tungsten producer from Oaktree Capital Management LP.
The stock climbed as much as 32%, the most since February 2025, after the company said Forrest’s Wonongarra Pty Ltd. investment vehicle agreed to buy Oaktree’s entire holding in the firm. The deal covers about 862.1 million shares and 35.6 million options, according to an exchange statement on Monday. The stake is worth A$190 million ($133 million) based on Friday’s close.