Blue Moon, Elmet Group and EQ Resources Sign US$150-$175 Million Springer Tungsten Deal

M&A · PartnershipCorporate ActionCommodity Impact 4
โดย PR Newswire·US·Read original
Summary · why it matters

Blue Moon Metals Inc., The Elmet Group Co. and EQ Resources Limited have signed a binding letter agreement dated September 11, 2026 for a series of strategic transactions at Blue Moon's Springer Tungsten Complex in Imlay, Nevada, with a total investment from The Elmet Group of approximately US$150 million and an additional US$25 million set aside by TEG and EQ for standby requirements if needed to place the APT plant back in production. The transactions include a US$50 million tungsten prepayment facility funded in two US$25 million tranches and repaid through a 25% credit against sales of Springer Concentrate, a US$25 million equity subscription by TEG for 3,500,000 Blue Moon units at C$10.00 per unit, a 31.8% premium to Blue Moon's September 11 closing price, and a US$75 million capital injection by TEG into a joint venture entity that will own and operate the APT plant, with equity allocated 70% to TEG, 20% to Blue Moon and 10% to EQ. The mine and mill remain owned by Blue Moon, and EQ receives an eight-year offtake agreement for 4,000 tonnes of contained WO3 from its mines. The transactions form part of TEG's broader Landmark Initiative with the U.S. Department of War, which earlier announced a US$450 million investment into TEG, of which US$150 million is designated for these transactions. Blue Moon expects the Springer mine and mill back in production in Q4-2027 and the APT plant restarted in 2H-2028, which would be potentially the first material tungsten concentrate production in North America.

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Off-coverage companies 1

EQ Resources LimitedPrivate▲ Positive
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EQ receives an eight-year offtake agreement for 4,000 tonnes of contained WO3 from its mines

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