Equus Mining Limited
EQE.AX
Australian Securities Exchange0.05
AUD
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Equus Mining Limited
EQE.AX
(Australian Securities Exchange)
Recent
price
0.05
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ratio
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div
yld
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ROIC.AI
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- Business
- Equus Mining Limited (ASX:EQE) is a Sydney-based mining investment company focused on identifying and evaluating new resource opportunities following the divestment of its prior exploration assets. Incorporated in 1994 and headquartered at Level 2, 66 Hunter Street, Sydney, Australia, the company previously engaged in precious metals exploration and development, primarily gold and silver projects in southern Chile including the Cerro Bayo mine district, Cerro Diablo exploration project, and Los Domos exploration assets; these encompassed a 500 ktpa gold-silver processing plant, tailings storage facility, power generation infrastructure, and associated mining equipment targeting high-grade vein systems. The company operated through subsidiaries such as Equus Resources Pty Ltd, Southern Gold SpA, and Equus Patagonia SpA, serving institutional investors and resource sector stakeholders in Australia and Latin America. In February 2024, Equus completed the sale of all Chilean assets and undertakings to Andean Silver Limited (formerly Mitre Mining Corporation Limited) for total consideration of A$5.0 million, comprising A$3.5 million in cash, A$0.5 million in Andean shares, and A$1.0 million in deferred consideration subject to resource milestones at Cerro Bayo; the transaction included full repayment of a US$2.2 million loan facility to Tribeca Investment Partners via direct allocation of sale proceeds. Supporting the deal, the company raised A$1.3 million through a July 2023 placement of 32.5 million ordinary shares at A$0.04 each to an institutional investor and director, accompanied by 25 million unlisted options exercisable at A$0.05 until June 2026; it also entered a Deed of Forbearance with Tribeca in October 2023 addressing interest payment breaches, issuing shares valued at A$50,000 as part of extended loan terms until January 2024. In October 2024, the sale agreement amended the deferred consideration to A$750,000 paid in cash by Andean ahead of milestones, positioning Equus to pursue new ventures; the company maintains ASX listing with an adjourned annual general meeting scheduled for January 2025 and faces potential removal from the official list in March 2025.