This consistent flow of material enabled the plant to maintain ore Sorter concentrate output between 5,600 and 9,800 tonnes per month, from a 1,300 tonnes monthly average for FY2024, highlighting the stable capacity of the ore sorting system despite fluctuations in ore quality. Picture above: Saloro’s Processing plant with the Gravity Plant on the left and the Ore Sorter Plant in red in the background on the right. Picture above: Tungsten Concentrate bags from the Barruecopardo mine on a truck being shipped to a customer. The Gravity Plant processed more than 0.9 Million tonnes for the year, averaging ~75,000 tonnes per month. Feed grades demonstrated a gradual decline as the year progressed, beginning at 0.243–0.275% WO₃ during the first three months, rising to a seasonal high of 0.283% in February, before moderating to around 0.226% by June as lower-grade ore and stockpiles became more prominent in the blend. Recovery trends followed a similar arc: initial levels just above 52% steadily improved in Q2, reaching a peak of 63.3% in December, before stabilising between 57% and 59% through the latter half of the year, confirming the reliability of the upgraded circuit configuration. These operational trends translated into consistently strong concentrate output. Annual tungsten production totalled approximately 119,023 mtu, +28% from 93,105 in FY2024, with monthly performance anchored between 9,000 and 11,500 mtu. The standout period occurred in late 2024, when production exceeded 10,000 mtu in six consecutive months, capped by the all-time high of 11,534 mtu in November 2024. Even as head grades declined in early 2025, the processing plant’s efficiency allowed output to remain steady at around 9,000–10,000 mtu per month, showcasing the resilience of the flowsheet to variable feed conditions. EQ Resources Limited Annual Report 2025 49
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