Member Info for Real_Adam-Smith

Well after thinking for a long time that this was an absolute no-brainer slam dunk opportunity I’m now no longer of the same view because the management appears to be a complete clown show - poor comms - and now on the day that when they get to tell the world what a great opportunity investors have - the stock does nothing good. Good luck to all longs - I’m out.

Would be interested to see the calculations. Do you base them on the slide 3 EV fully diluted? Does fully diluted in this calculation mean that in arriveing at their EV on slide 3 they assume that all of the CLNS have taken stock in lieu of being repayed? Thx in advance for any further insights as to how you are valuing this one.

I noticed an article related to Canadian Tungsten miner Almonty, it suggests that they have received a letter from the US indicating that if get make their HQ in the USA then they become eligible for long term supply contracts with US Gov and with commitment to a minimum price per ton. Possibly relevant to TUN? An aquisition my Almonty or another US HQ miner eligiable to receive long term Tungsten supply contract with US Gov minimum price per ton guarantees?

https://www.streetwisereports.com/article/2025/07/30/next-several-years-to-be-catalyst-rich-for-tungsten-miner.html

So much happening in this area and it is really accelerating since China said no to Trump’s tariffs.

China are now clearly using access to critical minerals and rare earths as their leverage vs the US and its allies in all negotiations. There must be enormous pressure to take the stick out of China’s hand in this area and shovel ready projects like TUN ought be top of mind right now for investment. Watch this space!

Critical Mineral Resources and Rare Earths just got more critical and even rarer!

Thanks all for the colour on the payment - I still am amazed by the constant negative tone on this board.

Tariffs, China, EU Critical Minerals - Massive uptick in Government spending on defence - US/EU/UK.

Tungsten APT price up another 4.49% in the past week!!

https://www.argusmedia.com/metals-platform/price/assessment/tungsten-apt-fob-china--per-mtu-wo3--prices-PA00145020000

And investors are selling? Unbelievable!

@pj70 - Where there's money flowing, politicians are going. UK Freeports - Blackrock. Join the dots.

Recent positive statement from one of their suppliers Hargreaves’s Services PLC. Indicates continued positive momentum in the Hermerdon project I believe. Coupled with the statement of the locals person recently that daily activity is ramping up. Good luck to all longs like me :-)

“ We note the recent announcement from Tungsten West plc ("TW") regarding the revised development plan to recommence mining at the tungsten mine in Hemerdon, Devon. The Group remains party to an exclusive long-term Mining Services Contract with TW, which will commence should the project move to production. A further £1.0m instalment was received in June 2025, leaving a further £3.0m to be received over the next three years.”

Link below

https://uk.advfn.com/stock-market/london/hargreaves-services-HSP/share-news/Hargreaves-Services-PLC-Preliminary-Results-for-th/96520174

As I’m learning - the lack of liquidity can cause this stock to oscillate wildly around fair value. Mr Market is easily swayed both ways. Perhaps Tungsten West would be better named Tungsten Critical Mineral Co?

@RottenluckWillie - Thanks for the heads-up - Seems I might be on the track - Just need some Devon politicians to step up and pull her into Hermerdon while she is in the Southwest and before she heads back to London.

From the EU (yes I know that’s not us but the I would expect the same principle to apply).

Good for TUN. If Rachel wants UK Growth and Employment she could do a lot worse than find $93M and get this asset working and generating jobs and income for Britain.

Good spot - I think that Tungsten APT price will continue to rise in USD terms due to a combination of supply chain discontinuity caused by Trump Tariffs/China and USD devaluation vs commodities. I would expect rising APT price to underpin TUN valuation and assist with both the feasibility study and funding.

Explains the price drop - Point well made - Thanks.

It’s like watching a robbery in slow motion - Post China export restrictions this asset is now worth 100X what it was worth before the Geopolitical games started. Funding or no funding announcement.

In 4 weeks someone has nicked 14.5 percent of the company from under our noses.

If I’m reading today’s RNS right - It would appear that Baker Steel Capital Managers - A firm who apparently specialise in investing in mining resources and precious metals and who have backgrounds in geo-sciences, mining, geology and engineering. They have been quietly acquiring shares in TUN. On June 10th 2025 they owned 1.8% of TUN or 3,406,260 shares, as of 14th July 2025 they now own 14.8% or 26,846,515 shares.

Seems like a solid endorsement of TUN as an investment - no?

Being quietly acquired for peanuts - As I suspected.

Kinda funny that such an important strategic mining company with 2nd or 4th (depending who you believe) largest global Tungsten deposit is trading on this piddly little AIM market with such a small float and small market cap and small amounts of money being traded. Seems a bit of a waste of time - Surely some larger mining giant will just snap it up?

Tungsten price continue to rise as expected. Ignore this volatility, it is a buying opportunity IMHO.

https://www.argusmedia.com/metals-platform/price/assessment/tungsten-apt-fob-china--per-mtu-wo3--prices-PA00145020000

@tbow112 - Thanks for the clarification on valuation. Still seems like incredible value to me.

Found this which may be of interest to anyone nervous about funding

https://www.state.gov/minerals-security-partnership

https://mwi.westpoint.edu/minerals-magnets-and-military-capability-chinas-rare-earth-weaponization-should-be-a-wake-up-call/