Tungsten West Unveils Plan to Restart Hemerdon Mine, Targeting Global Tungsten Supply

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

Tungsten West Plc has announced a development and economic plan to restart operations at the Hemerdon mine, projecting it to produce 20% of the global supply of primary tungsten outside China. The plan outlines a significant internal rate of return and net present value, with operations expected to commence within 12 months of securing funding. The project emphasizes stakeholder engagement and sustainable operations, with a focus on reducing environmental impact and enhancing processing capabilities. The company is in discussions for project financing and aims to complete fundraising by the end of 2025, positioning itself to address the Western world’s tungsten supply gap.

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 aims to become a significant player in the global tungsten market, particularly outside China, by leveraging its fully permitted and strategically important tungsten resources.

Average Trading Volume: 565,470

Technical Sentiment Signal: Buy

Current Market Cap: £8.02M

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