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Tungsten Miner Soars After Billionaire Forrest Takes 17% Stake
Tungsten Miner Soars After Billionaire Forrest Takes 17% Stake
Australian mining billionaire Andrew Forrest, founder and executive chairman of iron ore giant Fortescue, has agreed to acquire Oaktree Capital's entire 16.8% stake in the Sydney-listed tungsten producer EQ Resources.
Shares of EQ Resources in Sydney surged 34% on Monday following news of the transaction, which is valued at about 190 million AUD ($133 million) based on Friday's close. The deal covers 862.1 million shares and 35.6 million options.
Forrest's most likely reasoning for the deal is that EQ Resources controls one...
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Mar 17, 2026 / Tyler Durden
$5 Diesel Means A 35% Jump In Prices For US Consumers
$5 Diesel Means A 35% Jump In Prices For US Consumers
While US gasoline prices have risen substantially since the start of the Iran war (although RBOB futures suggest there is much more upside should oil prices remain around $100), the average price of diesel has already soared above $5 per gallon in the US, the highest since 2022, and pushing up supply chain costs and setting the stage for broader inflation for consumers.
The price spike is increasing costs for farmers, truckers and construction firms.
With diesel at $5 per gallon,...
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Frédéric Bastiat
That Which Is Seen, and That Which Is Not Seen
Jun 1, 2026 / Tyler Durden
Key Events This Week: Jobs Report, JOLTS, ADP, ISMs And Fed Speakers
Key Events This Week: Jobs Report, JOLTS, ADP, ISMs And Fed Speakers
The key event for markets outside of Iran (which is once again front and center following news that Iran is halting all exchange of messages with the US in protest of Israeli crimes in Lebanon) will be Friday’s US May employment report. Economists forecast a notable moderation in payroll growth compared with the relatively strong pace seen earlier in the spring. Headline nonfarm payrolls are expected to rise by around consensus 89k, down from 115k in April, while...
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