Picture above: Northern area of Phase 6 at elevation 700RL, including the access ramp and 690RL bench, with ore stockpile and waste dump as of the end of June 2025. The Northern Area as of 31st March 2025. Resources Block Model in Phase 6 Pit outline showing ore block already extracted. Colours represent the grade of the ore. Red for high grade (>0.15% WO3). Orange for lower grade (0.07-0.15% WO3). Blue for very low grade. (0.0550.07% WO3). Operating and Financial Review continued 44 EQ Resources Limited Annual Report 2025
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