EQR receives $2.3m through R&D Tax Refund During the June 2023 quarter, EQR received a $2.3 million tax refund in support of the Company’s extensive Research and Development (R&D) programs conducted at its Mt Carbine Tungsten Mine, in preparation for the Open Pit restart. The various optimisation trials, comparisons of different technologies and equipment, and selected modifications in the process flowsheet, have proven very effective over the past 12 months with the main process Key Performance Indicators improving month by month. The R&D program has been developed in close collaboration with Plotlogic, our preferred global technology company that aims at delivering highly accurate ore characterisation in real time, enabling greater recovery, reducing waste and enhancing geological models. Some of the R&D activities conducted during the period consisted of: − Jig performance optimisation (including special effort on ragging material and sizing); − Air Jig test work for enhanced fines recovery; − Magnetic separation test work; − Smelting tests (external with Cronimet); − Test of new equipment to reduce the wear/abrasion; − VSI crusher trials; − Vertical spindle pump trials; − XRT Sorter optimisation for handling high-grade open pit ore; − Impurity removal through flotation; and Plotlogic hyperspectral scanning of drill core and selected ore samples. Currently 90% of our drill core has been scanned on a multispectral basis. The scanning recognises various minerals including wolframite and will be utilised on a larger basis in delineation of ore zones within the open pit mining. Understanding of the mineralogy of Mt Carbine assists in the interpretation of fluid flow and temperature models. Plotlogic sensor, scanning drill core. Sample scan for Quartz vein and Wolframite rich ore. EQ Resources Limited Annual Report 2023 45
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