Guardian Metal Resources PLC Announces US DoD Awards $6.2m to Pilot Mountain Project
Guardian Metal Resources (OTCQX:GMTLF) has secured a significant $6.2 million award from the U.S. Department of Defense under Title III of the Defense Production Act of 1950. The non-dilutive funding will accelerate the development of the company's flagship Pilot Mountain tungsten project in Nevada.
The funding will support the completion of a pre-feasibility study and environmental studies for what could become the only U.S. mined source of tungsten. This strategic initiative aligns with U.S. efforts to establish domestic critical metals production for national security and economic objectives.
Guardian Metal Resources (OTCQX:GMTLF) ha ottenuto un importante finanziamento di 6,2 milioni di dollari dal Dipartimento della Difesa degli Stati Uniti ai sensi del Titolo III del Defense Production Act del 1950. Questo finanziamento non diluitivo accelererà lo sviluppo del progetto di tungsteno Pilot Mountain in Nevada, fiore all'occhiello dell'azienda.
I fondi serviranno a completare uno studio di prefattibilità e studi ambientali per quella che potrebbe diventare l'unica fonte di tungsteno estratta negli Stati Uniti. Questa iniziativa strategica è in linea con gli sforzi degli USA per creare una produzione nazionale di metalli critici a scopi di sicurezza nazionale ed economici.
Guardian Metal Resources (OTCQX:GMTLF) ha asegurado un importante financiamiento de 6,2 millones de dólares del Departamento de Defensa de los Estados Unidos bajo el Título III de la Ley de Producción de Defensa de 1950. Esta financiación no dilutiva acelerará el desarrollo del proyecto emblemático de tungsteno Pilot Mountain en Nevada.
Los fondos apoyarán la finalización de un estudio de prefactibilidad y estudios ambientales para lo que podría convertirse en la única fuente de tungsteno extraída en EE. UU. Esta iniciativa estratégica se alinea con los esfuerzos de EE. UU. para establecer una producción nacional de metales críticos para objetivos de seguridad nacional y económicos.
Guardian Metal Resources (OTCQX:GMTLF)는 1950년 국방생산법(Defense Production Act) 제3조에 따라 미국 국방부로부터 620만 달러 규모의 중요한 자금 지원을 확보했습니다. 이 비희석성 자금은 회사의 대표 프로젝트인 네바다주 파일럿 마운틴 텅스텐 프로젝트 개발을 가속화할 것입니다.
자금은 예비 타당성 조사 및 환경 조사를 완료하는 데 사용되며, 이는 미국 내 유일한 텅스텐 광산 자원이 될 수 있습니다. 이 전략적 사업은 국가 안보와 경제적 목표를 위한 국내 중요 금속 생산 구축 노력을 지원합니다.
Guardian Metal Resources (OTCQX:GMTLF) a obtenu une importante aide financière de 6,2 millions de dollars du Département de la Défense des États-Unis dans le cadre du Titre III de la Defense Production Act de 1950. Ce financement non dilutif accélérera le développement du projet phare de tungstène Pilot Mountain au Nevada.
Ce financement soutiendra l'achèvement d'une étude de préfaisabilité et des études environnementales pour ce qui pourrait devenir la seule source de tungstène extraite aux États-Unis. Cette initiative stratégique s'inscrit dans les efforts américains visant à établir une production nationale de métaux critiques pour des objectifs de sécurité nationale et économiques.
Guardian Metal Resources (OTCQX:GMTLF) hat eine bedeutende Förderung in Höhe von 6,2 Millionen US-Dollar vom US-Verteidigungsministerium im Rahmen von Titel III des Defense Production Act von 1950 erhalten. Die nicht verwässernde Finanzierung wird die Entwicklung des Pilot Mountain Wolfram-Projekts in Nevada beschleunigen.
Die Mittel werden die Fertigstellung einer Vorstudie und Umweltstudien unterstützen, für das möglicherweise die einzige in den USA abgebauten Wolframquelle. Diese strategische Initiative steht im Einklang mit den Bemühungen der USA, eine inländische Produktion kritischer Metalle für nationale Sicherheits- und wirtschaftliche Ziele aufzubauen.
- Secured significant non-dilutive funding of $6.2M from U.S. Department of Defense
- Strategic positioning as potentially the only U.S. domestic tungsten producer
- Government backing validates project importance for national security
- No commercial covenants that would restrict future tungsten concentrate sales
- Project still in pre-feasibility stage with no guaranteed success
- Subject to regulatory and environmental approval uncertainties
- Potential technical and operational challenges in project development
U.S. Department of Defense Awards
LONDON, GB / ACCESS Newswire / July 23, 2025 / Guardian Metal Resources plc (AIM:GMET)(OTCQX:GMTLF) is very pleased to announce that its wholly-owned subsidiary Golden Metal Resources (USA) LLC has been awarded US
Highlights:
Golden Metal Resources (USA) LLC, a wholly-owned subsidiary of Guardian Metal, has been awarded US
$6.2M from the U.S. Department of Defense under Title III of the Defense Production Act of 1950 ("DPA Title III" or the "Award") to support the rapid advancement and pre-feasibility study for the Pilot Mountain tungsten Project.With this funding now secured, the Company plans on immediately advancing the pre-feasibility study for its Pilot Mountain tungsten project, on the way to its ultimate goal of playing a significant role in the U.S. onshoring efforts of critical metals to support U.S. national security and economic objectives.
Oliver Friesen, CEO of Guardian Metal, commented:
"I firstly want to extend my thanks to the U.S. Department of Defense and Defense Production Act Purchases team for their tireless effort to support the domestic critical minerals industry and the Pilot Mountain Project, in particular. This Award is a step-change in our business, as we work towards our goal of supporting the U.S. industrial base with Mined in America tungsten.
"Now is the time for the U.S. to reestablish a reliable and secure domestic source of mined tungsten. With this substantial non-dilutive award secured, we move forward with further confidence in our business model and look forward to showing the market, industry and government the achievements these funds will enable."
J.T. Starzecki, Chairman of Guardian Metal, commented:
"On behalf of the Guardian Metal organization, I commend the determined efforts of our team and the working relationship they have built with the U.S. Department of Defense in the pursuit of achieving our first major milestone for the company in 2025.
"This funding will unlock our ability to put forth a robust pre-feasibility study (PFS) which will detail the scope of Pilot Mountain and help us advance the Project towards our ultimate goal of being the newest domestic producer of this critical mineral."
US Government Funding to Advance the Pilot Mountain Tungsten Project
Funding through the DPA Title III program is designated for key workstreams associated with the Pilot Mountain pre-feasibility study which is currently in progress. In addition, a range of environmental studies will be undertaken and funded under the Award, supporting the pursuit of commercial production at Pilot Mountain, which would represent the only U.S. mined source of tungsten.
The DPA Title III award is non-dilutive to Guardian Metal shareholders and no commercial covenants are included in the Award that would impair Guardian Metal's current business, nor the future sale of tungsten concentrates to the industrial base. Guardian Metal's management team will lead the work and periodically report progress to the administrators of the Award.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018).
Forward Looking Statements
This announcement contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, competition for qualified staff, the regulatory process and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the timing and granting of regulatory and other third party consents and approvals, uncertainties regarding the Company's or any third party's ability to execute and implement future plans, and the occurrence of unexpected events.
Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors.
For further information visit www.guardianmetalresources.com or contact the following:
Guardian Metal Resources plc Oliver Friesen (CEO) | Tel: +44 (0) 20 7583 8304 |
Cairn Financial Advisers LLP Nominated Adviser Sandy Jamieson/Jo Turner/Louise O'Driscoll | Tel: +44 20 7213 0880 |
Shard Capital Partners LLP Broker Damon Heath/Erik Woolgar | Tel: +44 (0) 20 7186 9000 |
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SOURCE: Guardian Metal Resources PLC
View the original press release on ACCESS Newswire
FAQ
What is the significance of the $6.2M DoD award for Guardian Metal Resources (GMTLF)?
How will Guardian Metal Resources use the $6.2M Department of Defense funding?
What makes the Pilot Mountain tungsten project strategically important?
Are there any restrictions on Guardian Metal Resources (GMTLF) with the DoD funding?
When does Guardian Metal Resources plan to start using the DoD funding?
