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Yes great article Luke, US is going into overdrive for tungsten.

Checkout nasdaq listed ALM now over $1billion market cap.

B_positive that is not how in ground valuations work.

5-10 years away from production you apply a discount.

Market makers need to fill orders and they will let it go, same thing happened at 1p but they cant fill the orders if you do not sell. 😝

Going by RNS I assume next drill results will land next week and they have already hinted it intersected the full width of the vein system which is a big hint of positive results.

Tungsten price still at record highs the evening.

Propinquity China did appear to loosen controls on Tungsten and antimony but they actually tightened for military use. News overnight coming from whitehouse is they are now aggressively going after tungsten.

Because there are only a few producers outside of China tungsten price will remain high for probably next 2-3 years until new mines come online.

I am surprised you can still buy SML this low with the highest grades in the world but I guess takes time for story to build and drill results to be RNSed. New base around 1.5p and 3-4p by Christmas? that would be nice.

London I think NPV is now $450-$500million from a few weeks ago from tungsten and tin price increase.

Yes but it would not be valued at $1billion, tungsten assets are valued at around 30% of NPV pre production, more if in a safe country and with government backing.

I think some realistic targets should be set and not to get carried away.

Realistically to be inline with other undeveloped tungsten assets this should be £100million and that is being very conservative because SML grades are the 2nd highest in the world.

£100million = 4-5p

Ofcourse if MRE is closer to $billion NPV then looking at 10p in my opinion.

Gold motoring at the moment, new record highs soon?

Headlines out US now starting to panic over tungsten.

Remember over the last 12 months the US panicked over rare earth magnets and companies went vertical. This is why I am invested and await blockbuster maiden resource news in next few months.

EQ resources another tungsten play also starting to motor on ASX, about £100million market cap.

SML mentioned them in their presentation as a company in the sector but again with significantly lower grades compared to SML.

We will soon find out how much cash TM1 have.

Lithium price starting to rise after many years of being dormant, only a good thing for lithium companies.

Tungsten getting all the attention, the sector of 2026.

“ Alarmed by the United States’ exposure to China’s rare earths chokehold, the Trump administration is accelerating efforts to identify and plug any of the country’s other potential mineral vulnerabilities.”

https://foreignpolicy.com/2025/11/12/us-china-tungsten-critical-mineral-supply-chain/

Great post tungstenman, management have been great.

Side note Tin up another 2-3% absolutely motoring.

Still old numbers on that presntation.

I bought a few more today, like dip at 1p think this will be much higher soon.

Tungsten up 15-20% over last few weeks and tin up around 10% up over last few weeks. Adds significantly to NPV.

Just very sad what people will do to save 10% here or there on probably very small buys aswell. Should really be reported.

Anyway get back on topic, drill results likely next week if they are anything like the previous than we can start to get an idea of how big this gold resource is.

Gold back about $4000.

Roger65 as we know valuations rerate long before companies are in full production.

Funding will not be an issue assuming lithium continues north as it has over the last few months, home green clean lithium on UKs doorstep. Does not get better than that.

Prioryroad do you not feel one bit of shame now that you have bought back in? Calling directors and company a fraud I hope someone showed that to the directors.

Tin price up another 3% today! Huge moves taking place in metal markets.

Click on posting history and you can see a lot of these guys are just derampers in disguise.

This will annoy some of them tungsten just hit $720 mtu in Europe. Historic!