Tungsten West CFO Increases Stake Following Loan Note Conversion

Tungsten West Plc ( (GB:TUN) ) has shared an announcement.

Tungsten West has disclosed a director dealing in its shares following the mandatory conversion of convertible loan notes. Chief financial officer and director Philip Povey, through his controlled vehicle Umbrella Mountain Limited, has become interested in 3,662,100 ordinary shares after the conversion of £109,863.01 of loan notes at 3 pence per share, of which he is the ultimate beneficial owner of 2,995,305 shares. His resulting beneficial holding represents approximately 0.39% of the company, a development that modestly increases insider ownership and may be seen by investors as a sign of management’s alignment with shareholders’ interests as the company works to restart production at Hemerdon.

The most recent analyst rating on (GB:TUN) stock is a Hold with a £10.00 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 GB:TUN Stock

According to Spark, TipRanks’ AI Analyst, GB:TUN is a Neutral.

The score is primarily held back by weak financial performance—ongoing losses and cash burn, plus the shift to negative equity and higher debt. Technical indicators are neutral-to-mildly positive, and recent corporate developments show execution progress and interim financing, but valuation remains constrained by losses and no dividend support.

To see Spark’s full report on GB: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, targeting the supply of critical minerals to industrial and technology markets.

Average Trading Volume: 711,939

Technical Sentiment Signal: Buy

Current Market Cap: £21.61M

See more insights into TUN stock on TipRanks’ Stock Analysis page.