Guardian Metal initiated with an Outperform at BMO Capital

BMO Capital initiated coverage of Guardian Metal (GMTL) with an Outperform rating and 450 GBp price target Guardian’s Pilot Mountain project is one of the largest undeveloped tungsten deposit in the U.S., the analyst tells investors in a research note. The firm believes tungsten is “structurally constrained” due to declining Chinese production, export restrictions, and scarce Western supply. As synch, Pilot Mountain represents a key strategic asset for the U.S., contends BMO.