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The latest update is out from Iris Metals Limited ( (AU:IR1) ).
IRIS Metals Limited has signed a binding Heads of Agreement with Finley Mining Inc. to acquire farm-in rights for the high-grade Finley Basin Tungsten Project located in Montana, USA. This move marks the company’s entry into tungsten, a critical mineral essential for defense, energy, and technology applications, complementing its existing U.S. critical minerals portfolio. The deal permits IRIS to earn up to 100% ownership through staged exploration investments and positions the company to benefit from U.S. critical mineral policies and incentives. Exploration is set to commence in 2026, emphasizing resource expansion and development to meet growing domestic demand and counter geopolitical supply chain vulnerabilities.
More about Iris Metals Limited
IRIS Metals Limited is a critical minerals exploration and development company that focuses on the acquisition and advancement of projects primarily in the United States. The company has an established presence in South Dakota with lithium and rubidium projects and is pursuing a strategic ‘Hub & Spoke’ model for centralized processing across multiple sites. IRIS is strategically expanding its portfolio to include tungsten projects, aligning with U.S. policies supporting domestic critical minerals.
Average Trading Volume: 611,457
Technical Sentiment Signal: Buy
Current Market Cap: A$55.79M
Learn more about IR1 stock on TipRanks’ Stock Analysis page.