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Tungsten West Plc ( (GB:TUN) ) has shared an update.
Tungsten West Plc has announced the addition of a new tranche, Tranche H, to its existing 2023 Convertible Loan Notes, raising approximately £4.3 million. This funding will support the company’s efforts to restart production at the Hemerdon mine and advance its economic plans, while also pursuing further funding and de-risking opportunities, with implications for its operational progress and stakeholder interests.
Spark’s Take on GB:TUN Stock
According to Spark, TipRanks’ AI Analyst, GB:TUN is a Underperform.
Tungsten West Plc faces considerable financial instability, with negative income and cash flow issues, and high leverage. Technical indicators are mixed, showing volatility but no strong directional momentum. The negative P/E ratio reflects weak valuation fundamentals. Overall, the stock presents a high-risk profile with limited immediate upside potential.
To see Spark’s full report on GB:TUN stock, click here.
More about Tungsten West Plc
Tungsten West Plc is a mining company focused on restarting production at the Hemerdon tungsten and tin mine in Devon, UK. The company operates within the mining industry, with a primary focus on tungsten and tin production, aiming to enhance its market position through strategic developments and funding initiatives.
Average Trading Volume: 1,141,043
Technical Sentiment Signal: Buy
Current Market Cap: £20.01M
See more data about TUN stock on TipRanks’ Stock Analysis page.