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The fantastic thing about tungsten and tin is unlike for example gold there are very few ways to get exposure to it on LSE.

Either TUN which is around £150million at 12p fully diluted loan notes or GMET around £200million or SML which is around £40million.

China controls 80% of supply and there are very few companies in the sector.

Jester simply put they intersected high grade tin and copper on previous drill intersects and thought worthy of RNS. Grok is a great tool to understand what are high grades on tin.

Will add significant value into updated maiden resource.

SML can now kill two birds with one stone on critical metals list, both for the government and investors looking to get exposure to tin and tungsten.

Tin up another 1% already today.

You have to give credit where it is due priory has played a blinder as a deramper. Sold out then made lies about the directors and company got people attacking each other and destroyed discussion then played the victim.

Sad.

So many derampers this morning. 😆

Tungsten price is parabolic and tin is moving up aswell. As we get more news it continues to solidify the monster resource we are sitting on. Another 2-3 drill results by year end.

Tin price continues north which makes it even more valuable, ontop of tungsten price.

It was a nice bonus RNS with alot more news due.

There is a lot of new information, simply put tin results have added significantly to resource so RNSed a follow on from previous drill.

It is a very good RNS, grades are very high.

I think one of the most important things that is getting overlooked in all this good news, is how wonderful the new management has been since the board change. Round of applauds.

Derampers are so sad.

Miss the train so just spend their days deramping, they actually think they can effect the price after this mornings RNS. Surely better ways to make money.

This RNS just confirms what we already know they are sitting on a monster, do not give up your tickets because I suspect this will significantly higher over next few months, so much news due.

Not only are they hitting high grade tungsten but also high grade tin! They hit so much of it they had to reRNS additional results from first drill. Adds more value to resource.

Could we be looking at $1billion+ NPV on updated maiden resource?

Update on previous drill results, exceptional drill result just got more exceptional I did not think that was possible wow.

And to top it off even more news due shortly.

He is right we are some time away from full production but a processing plant next door can reduce time frames by years.

The play is not full production but figuring out how much resource they are sitting on, fingers crossed over the $billion mark.

Using a plant that is next door is a logistical impossibility? Next door actually makes it a logistical probability.

We are a long way from production but I am not here for production I am here to see how big and how much the resource they have is worth. Take EEE for example hit £500million market cap on their maiden resource, years away from production.

SML and TUN can single handily solve Europes tungsten needs.

Tungstenman checkout China news.

Tungsten restrictions keep getting tighter. SML are in a very unique position, only a couple producing mines outside of China.

Dusterin

You buy FAR and BRES but you have never seen a drill site before? Yes it is not much to look at you are right.

Huge news out in China, they lifted ban on some rare earths but controls on Tungsten remain and infact controls on Tungsten are stricter.

“China lift the Ban on Antimony, Germanium and Gallium.

The other hand they drop Harsher Export Qualifying Requirements for Tungsten!”

Looks like everyone will start dumping rare earths and start buying tungsten stocks. Incredible timing for SML.

Yes Tungsten West could decrease SML timeframes by years assuming we do not get bought out by then.

I will take a shot in the dark and guess we will be sitting on atleast $800million NPV early 2026 = $240million to SML at 30% discounted.

Probably around 5 years in the UK for full production but it is worth reminding companies do not rerate on full production they rerate on the resource they prove up through drilling. A typical value in a safe jurisdiction is 30% NPV but this number increases with government backing etc.

Also timeframes can rapidly decrease if there is a processing plant nearby, that is where Tungsten West comes in handy.

NPV currently is pushing towards $500million at current tungsten pricing, which will increase further on updated maiden resource early 2026.

400344

He calls OMI a slam dunk buy whilst missing out the fact they also have warrants to be exercised and are being exercised but calls MILA a pump and dump because they have warrants haha

A new account btw.

We all know the game, small traders buy and sell and they will ramp and deramp to suit their agenda. Seems a very sad way to make £500.

Warrants exercising whilst providing cash to the company is nothing sinister.

All traders will get locked out when news lands next week.