Guardian Metal Steps Up Nevada Tungsten Strategy with U.S. Defense Funding

Guardian Metal Resources Plc (LSE:GMET) has outlined accelerated progress across its Nevada tungsten portfolio, supported by a US$6.2 million grant from the U.S. Department of Defense and a US$21 million equity placing. During the interim period, the company finalised an updated Technical Summary and Mineral Resource Estimate for its Pilot Mountain project, lifting open-pit constrained indicated resources by 16% compared with the 2018 assessment and moving the asset closer to a pre-feasibility stage.

Field activity remains active at Tempiute, where drilling campaigns and environmental baseline studies are under way. The group has also expanded its land position at both Pilot North and Tempiute through additional claim acquisitions, strengthening the broader tungsten opportunity. Beyond tungsten, Guardian Metal progressed exploration work targeting copper, gold and lithium across its Garfield, Golconda, Kibby Basin and Stonewall properties.

Financially, total assets increased to US$37.6 million during the period, despite a wider interim loss, as capital inflows bolstered the balance sheet. The company also became a participant in several U.S. defense-aligned industry groups, reinforcing its ambition to help rebuild a domestic tungsten supply chain amid heightened strategic focus on critical minerals.

From an outlook perspective, performance continues to be constrained by limited revenue generation, expanding losses and rising cash outflows, although the group maintains a debt-free position. Market technicals offer more constructive signals, with a sustained upward trend and positive price momentum. Nevertheless, valuation metrics remain pressured by negative earnings and the absence of dividend support.

More about Guardian Metal Resources Plc

Guardian Metal Resources Plc is a strategic minerals exploration and development company focused on restoring U.S.-sourced tungsten production and enhancing American supply chain security for defense-critical metals. The company is advancing two flagship Nevada projects: Pilot Mountain, one of the largest undeveloped tungsten deposits in the United States, and Tempiute, historically the nation’s largest producing tungsten mine.