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Tungsten West Plc ( (GB:TUN) ) has provided an update.
Tungsten West has raised approximately £41.37m in gross proceeds through an oversubscribed equity fundraise comprising a placing with institutional investors and a large direct subscription by a prominent international investor, all priced at 18 pence per share, a small premium to the 30-day VWAP but a discount to the last closing price. The capital injection, which includes £351,522 of director participation and substantial support from major shareholder Lansdowne, will strengthen the company’s balance sheet and underpin the restart and accelerated recommissioning of the Hemerdon tungsten and tin mine, broaden its institutional shareholder base, and potentially enhance its market standing as it progresses project debt financing and brings the mine back into production amid strong commodity prices.
The most recent analyst rating on (GB:TUN) stock is a Hold with a £26.00 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 constrained by weak financial performance (ongoing losses, cash burn, and FY2025 move to negative equity with higher debt). Technicals are supportive due to a strong uptrend, but overbought indicators raise near-term risk. Valuation is unfavorable/opaque because the company is loss-making and no dividend support is indicated.
To see Spark’s full report on GB:TUN stock, click here.
More about Tungsten West Plc
Tungsten West Plc is an AIM-listed mining company focused on restarting production at the Hemerdon tungsten and tin mine in Devon, UK. The company’s core activity is bringing this strategic tungsten and tin asset back into operation, positioning itself to benefit from buoyant commodity markets and demand for critical minerals.
Average Trading Volume: 1,798,791
Technical Sentiment Signal: Buy
Current Market Cap: £231.8M
Find detailed analytics on TUN stock on TipRanks’ Stock Analysis page.