SYDNEY — Shares of EQ Resources Ltd. fell more than 11% on Friday, making the tungsten producer one of the weakest performers on the Australian market even as the broader index rebounded from Thursday's steep sell-off.

The stock dropped 5 cents, or 11.24%, to 39.5 Australian cents, extending a run of sharp swings for one of the best-performing resources stocks on the Australian Securities Exchange this year.

The company did not release any price-sensitive announcement explaining the decline. The fall came as investors continued to pull back from smaller critical minerals and resources stocks, a group that has seen heavy volatility in recent weeks.

Bucking a broader market rebound

EQ Resources' slide stood in contrast to the wider market. The benchmark S&P/ASX 200 index rose 0.58% to 8,664.6 on Friday, recovering part of Thursday's 2% drop, which had pushed the index to its lowest level since mid-June.

Gains on Friday were led by technology and energy stocks, while speculative miners, including lithium, uranium and rare earths producers, remained under pressure. Several lithium stocks were among the week's worst performers after Macquarie cut its price forecasts for spodumene, a key lithium raw material.

EQ Resources has also seen frequent share issuance in recent weeks. The company has lodged a series of notices with the ASX for the........

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