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Tungsten West Plc ( (GB:TUN) ) has issued an announcement.
Tungsten West has disclosed that non-executive director Richard Maxey has acquired 366,210 ordinary shares in the company through the mandatory conversion of £10,986.30 of convertible loan notes at 3 pence per share, giving him a 0.05% stake. The conversion also updates the position of the Drakewood Concert Party, whose members now collectively hold 232.16 million shares, representing 29.95% of Tungsten West’s total voting rights, consolidating a significant bloc of influence on the company’s shareholder register.
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 critical industrial metals used in hard metals, electronics and specialty alloys.
Average Trading Volume: 734,005
Technical Sentiment Signal: Buy
Current Market Cap: £21.13M
Find detailed analytics on TUN stock on TipRanks’ Stock Analysis page.