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Tungsten West Plc ( (GB:TUN) ) has shared an update.
Tungsten West reported strong progress in the first quarter of 2026 on restarting its Hemerdon mine, supported by sharply higher tungsten and tin prices that have improved project economics. The company is targeting a first-phase restart of fines gravity processing in the third quarter of 2026 and full plant commissioning from the first quarter of 2027.
Key project works are accelerating, with all major subcontractors appointed, refurbishments and earthworks underway, and a strengthened leadership team including a new chief operating officer and senior heads for processing, mining, maintenance and ESG. Tungsten West has terminated its mining services contract with Hargreaves, opting to self-perform mining via a £22.3m Komatsu equipment finance deal, while advanced due diligence on up to US$85m in project debt and indicated support for an initial US$25m tranche, alongside £25.5m in cash reserves, underpin funding to the planned restart.
The most recent analyst rating on (GB:TUN) stock is a Hold with a £37.00 price target. To see the full list of analyst forecasts on Tungsten West Plc stock, see the GB:TUN Stock Forecast page.
Spark’s Take on TUN Stock
According to Spark, TipRanks’ AI Analyst, TUN is a Neutral.
The score is held down primarily by high financial risk—ongoing losses, continued cash burn, and FY2025 negative equity with increased debt—despite strong recent technical momentum. Valuation is only moderately supportive because the negative P/E reflects unprofitable operations and there is no dividend yield data.
To see Spark’s full report on TUN stock, click here.
More about Tungsten West Plc
Tungsten West Plc is a UK-based mining company focused on restarting production at the Hemerdon tungsten and tin mine in Devon. The group aims to supply strategic tungsten concentrate and tin to global markets, positioning Hemerdon as a significant Western source of these critical minerals amid buoyant commodity prices.
Average Trading Volume: 3,460,302
Technical Sentiment Signal: Buy
Current Market Cap: £449.2M
For a thorough assessment of TUN stock, go to TipRanks’ Stock Analysis page.