Guardian Metal Stock Price, News & Analysis

Guardian Metal Resources (LON:GMET)(OTCQB:GMTLF) has successfully raised £750,000 through a placing with Premier Miton, a UK asset management company. The placing involves issuing 2,500,000 new ordinary shares at £0.30 per share, representing 2.00% of the enlarged issued share capital.

The funds will be used for working capital and to accelerate exploration and development activities at Pilot Mountain and, pending definitive agreement, at Tempiute. The placement demonstrates growing investor recognition of the importance of establishing domestic tungsten production in the U.S., given its critical applications in military and industrial sectors.

The placing shares are expected to be admitted to trading on AIM around January 9, 2025. Following admission, the company's total issued share capital will comprise 125,006,991 ordinary shares. As part of the commission, 120,000 broker warrants will be issued, exercisable at £0.375 per share with a 24-month expiry.

Guardian Metal Resources (GMTLF) has announced significant drilling results from its Pilot Mountain tungsten project in Nevada. The company reported two record-high tungsten intersections: 3.04% WO3 in drillhole PM24-022 and 3.01% WO3 in drillhole PM24-023. Key highlights include drillhole PM24-022 with 44.2m @ 0.234% WO3, and drillhole PM24-018 with 20.4m @ 0.514% WO3. To date, 39 drillholes have been completed, with the 40th hole expected to begin on January 6, 2025. The company is preparing permits for up to 20 additional drill pads at the Project's Garnet zone. The company also noted that some WO3 assay results from the November 26, 2024 announcement were overstated and have been corrected in this update.

Guardian Metal Resources (GMTLF) has provided a due diligence update on its planned acquisition of the Tempiute Tungsten Mine & Mill in Nevada. Key findings include:

- Title opinion shows no maintenance deficiencies or adverse liabilities
- Geological review confirms robust tungsten-rich skarn-type mineralizing system
- Due diligence sampling revealed high-grade results including 1.50% and 0.94% WO3, plus significant silver (up to 66g/t), molybdenum (up to 1,985ppm), zinc (up to 5,510ppm), and copper (up to 0.358%)
- Environmental assessment expected to conclude in January 2025
- Definitive agreement documents are being prepared

Guardian Metal Resources (OTCQX:GMTLF) has executed a definitive water rights purchase agreement for Permit 87850 in Nevada's Kibby Basin Valley, adjacent to its Pilot Mountain Project. The permit allows for 1,447.94 acre feet annually of production and 130.055 acre feet annually for mining, milling, and domestic use.

The purchase price comprises US$350,000 already paid and US$200,000 due by January 31, 2025. The water rights are essential for mine development, with access points less than 3km from planned mining infrastructure. Combined with existing power infrastructure and well-maintained roads, this acquisition represents a significant milestone in developing domestic U.S. tungsten production.

Guardian Metal Resources (AIM:GMET)(OTCQX:GMTLF) announces key board changes. David Ovadia is stepping down as Non-Executive Director and Chairman, with J.T. Starzecki, current Independent Non-Executive Director, taking over as Chairman. Starzecki brings almost 20 years of mineral exploration experience and will begin serving at the Annual General Meeting on December 11, 2024.

Additionally, Benjamin Hodges has been appointed as Financial Director effective December 10, 2024. Hodges is a Fellow of CPA Australia with 25 years of accounting experience, including 16 years in natural resources. The company's focus remains on developing their Pilot Mountain Project, a tungsten mining operation in Nevada, USA, aimed at establishing domestic tungsten supply.