13th Jan 2025 15:00
Tungsten West PLC - London-based miner and owner of the past producing Hemerdon tungsten and tin mine - Raises GBP2.8 million by adding an additional tranche to existing 2023 convertible loan notes. The new tranche G consists of two parts worth GBP1.9 million and GBP900,000 each. The proceeds will be used for general working capital and to build a plan and economic model by the end of the first quarter. The company expects this to lead to a financing round in the second half of 2025 to enable production at Hemerdon to restart in the second half of 2026.
Current stock price: 3.10 pence, down 4.6%
12-month change: up from 1.25p
By Michael Hennessey, Alliance News reporter
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