Tungsten Miner’s Stock Jumps as Billionaire Forrest Buys Stake
Bloomberg 2026-07-20 01:36:04
Context: EQ Resources Ltd., a Sydney-listed tungsten producer, saw its shares surge after billionaire Andrew Forrest agreed to acquire a significant stake in the company. The acquisition, which involves a 16.8% stake, was sold by Oaktree Capital Management LP. This development has led to a notable increase in the company's stock value.
Key Facts
- 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.
- Andrew Forrest, a well-known mining billionaire, is the one who agreed to buy the stake in EQ Resources Ltd.
- The stake acquisition was from Oaktree Capital Management LP, a firm that currently holds the stake in EQ Resources Ltd.