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An update from Tungsten West Plc ( (GB:TUN) ) is now available.
Tungsten West Plc has received notices from Drakewood Capital Management and investor Henry Maxey to partially convert a combined 33,806,286 B Shares into new Ordinary Shares on a one-to-one basis. Following these conversions, 257,075,833 B Shares will remain outstanding, marking a further step in simplifying the company’s capital structure as it advances plans to restart the Hemerdon mine.
The new Ordinary Shares are expected to be admitted to trading on AIM on 17 March 2026, after which Tungsten West’s issued ordinary share capital will total 1,247,672,923 Ordinary Shares alongside the remaining B Shares. The enlarged pool of voting Ordinary Shares may alter shareholder ownership percentages and disclosure thresholds, with implications for existing investors monitoring their positions under UK transparency rules.
The most recent analyst rating on (GB:TUN) stock is a Hold with a £33.00 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 constrained primarily by weak financial performance (ongoing losses, zero FY2025 revenue, negative equity, and continued cash burn). Technicals are a meaningful offset, with the stock in a clear uptrend and positive momentum indicators. Valuation remains pressured by the company’s loss-making status and lack of dividend yield data.
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. The company is listed on AIM under the ticker TUN and targets critical metal markets, aiming to re-establish Hemerdon as a significant European source of tungsten and tin for industrial and technology applications.
Average Trading Volume: 3,190,687
Technical Sentiment Signal: Buy
Current Market Cap: £388.4M
For an in-depth examination of TUN stock, go to TipRanks’ Overview page.