Guardian Metal exercises options for 500,000 shares at 14p, raises £70,000
GMTL•Guardian Metal Resources raised £70,000 through a notice to exercise 500,000 new 1p ordinary shares at 14p each, boosting its issued share capital to 194,807,981. Western Star has engaged KC Harvey Environmental to lead permitting for its Nevada Rowland Tungsten Property ahead of a January 2027 U.S. defense procurement deadline.
1. Option Exercise and Fundraising
Guardian Metal Resources received notice to exercise options for 500,000 new ordinary shares at 14p each, generating £70,000 in proceeds. The new shares, expected to be admitted on or around 8 June 2026, will rank pari passu with existing shares, increasing the issued share capital to 194,807,981 and total voting rights accordingly.
2. Industry Permitting Developments and Competitive Landscape
Western Star Resources has engaged KC Harvey Environmental to lead permitting for its Rowland Tungsten Property in Nevada, advancing federal approvals in parallel with exploration. This move targets a January 1, 2027 U.S. defense procurement deadline restricting Chinese tungsten imports, highlighting rising competition and potential demand for domestic tungsten supply.
