29th Oct 2025 14:26
(Alliance News) - Guardian Metal Resources PLC on Wednesday said it is focused on progressing the Pilot Mountain and Tempiute projects to fulfil its "ambition of becoming America's next tungsten producer".
The Nevada-focused tungsten exploration company reported zero revenue for the year ended June 30, the same as the year before, and posted a wider loss.
Shares in Guardian Metal fell 4.9% to 109.40 pence on Wednesday afternoon in London.
Guardian Metal said its pretax loss widened to GBP2.7 million from USD1.4 million, driven by salaries, consulting and professional fees along with general regulatory and administration expenses.
Looking ahead, Guardian Metal said its priorities are to advance the Pilot Mountain and Tempiute projects, pointing to the increase in "strategic importance" of tungsten during the year.
Over financial 2026, Guardian Metal plans to deliver a pre-feasibility study at Pilot Mountain and a maiden resource at Tempiute, both of which are "fully funded", according to the company.
Guardian Metal said it intends to pursue a US securities exchange listing, which it anticipates to be completed during the first half of 2026.
Chief Executive Oliver Friesen said: "With two co-flagship assets in Nevada, an increasingly engaged US investor base and growing recognition across industry and government, Guardian Metal is well positioned to deliver on its ambition of becoming America's next tungsten producer."
Guardian Metal said its cash flow forecasts indicate that it "has the funds available to meet its operational activities and corporate activities through to December 2026" and can continue in operational existence.
Friesen added: "I would like to thank our shareholders, partners, and team for their ongoing support and commitment. Together, we are building a company that can play a pivotal role in delivering secure domestic supply of this critical mineral for defence, energy transition, and high-technology applications."
By Roya Shahidi, Alliance News reporter
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
Guardian Metal Resources PLC