Target 20p 🔥24 Nov 2025 08:00
For anyone new here: the company is currently self-funded through its copper operations, generating approximately $1.2–1.5 million in free cash flow per year. It also receives up to $1.5 million in matching grant funding for the high-grade tungsten drilling campaign and holds around $1.3 million in cash, with further reimbursement of recent drilling costs received each quarter.
The disposal of the non-core Leigh Creek copper project is advancing, with an expected £3 million upfront payment plus a 20% interest in the listed entity.
High-grade results from the recent tungsten drilling program are due imminently, and management has already indicated that the results will be strong. This comes at a time when tungsten prices have surged due to China tightening export restrictions.
The project also benefits from high-grade tin, copper, and silver credits, making this a highly compelling investment case - particularly when similar, lower-gra