Member Info for Tungstenman

And on that point latest issued options are at 3.5p . Management know what they are doing - and so much more to come.

Half expecting Leigh Creek to drop soon - what an asset and value creation that could be for SML holders.

Todays news will need digested by Zeus as this wasn't expected

This will have blown Zeus numbers off course . Focus and questions must now be around the potential size of this asset. What a real surprise to read this - never seen this coming

A new undiscovered zone of “meaningful scale”. . Just never seen this coming - what on Earth is next. Oil, Roman coins.

Very well done to this management team. Beyond brilliant

That was an incredible update from the company and they left the door open for a dividend increase on 28th March. Far East assets really gaining momentum now and Nagnus deal looks stunning. Some further potential catalysts which could propel this stock towards 30p in double quick time -

1. U.K. government relax the energy tax in March

2. Price of oil up 16% this year

3. Trump strike on Iran would move oil over $100 per barrel

Even without these exceptions the company is on the front foot with all assets really performing. Dividend yield over 5% and we could see buybacks introduced again. Results on 28th March

Yes - it doesn’t have any tungsten on meaningfully commercial grades. I passed on the placing because of such

As I said yesterday, there’s a small concert party that’s the wrong type of shareholder in SML. Will take time to clear them down just like Peter’s and Wale were cleared.

Marex selling 10m shares at any price this morning . This market maker only started to make a market at the same time as the placing. Highly likely this is a placee offloading

Oil price now up 16% this year alone. It’s all coming together in a very big way for Enquest.

Tungsten West £320m

SML £77m

Wrong way round me thinks -the market always gets it right in the end and that’s the opportunity at the moment. DYOR

Wrong type of shareholders in here at the moment but that will change. Having a few hens with share price theories doesn’t change the fundamentals.

You clearly don’t understand balance sheet movements . Troll

“Building shareholder value remains at the heart of our capital allocation decisions, and we will provide an update on the Group's shareholder return plans when we announce final audited results in March."

Company firing on all cylinders in every geographical location and on every single asset. Just a superb update

I am personally looking at a price closer to 20p post MRE. The £300m valuation stated by SP Angel was based on data released to date. We still await further data from Redmoor before the MRE. Our Tungsten resource in Cornwall is the second largest in the World and the largest in Europe that shouldn’t be lost on us. Furthermore Copper is becoming just as scarce as Tungsten and we are about to list our Copper assets onto the Australian Stock Exchange. What kind of value could be created there I may ask? And to cap all this we have $400,000 per month of free cash dropping into our bank account from Cobre. So when looking at our peers who are valued at £300m ask yourself why we are not valued much higher than them let alone similar because there’s absolutely no comparison whatsoever. This is why I believe 20p is more realistic . In summary we should be trading at a substantial premium to GMET and TUN. DYOR

So next week

Here you go Ken. 17th Dec RNS states February update coming

The RBL refinancing was net debt neutral, with year-end net debt expected to be in line with consensus market expectations. With EnQuest operating 96% of its 2P reserves, the Group maintains strong control over its future costs and investment programmes, which it is shaping to maximise cash flow and enhance value.

EnQuest plans to set out its 2026 market guidance and update on its hopper of organic growth opportunities in February 2026.

Serious buyer just arrived. Must be USA

Great news this is for ITM

Mark stating MRE before the end of W1. Does anyone know if there’s a firm date for this big release ?

Mark Burnett, Strategic Minerals Executive Director, said:

"The positive results from the twinning drilling and previously reported outcomes of the continuity of structure and grade have provided the possibility for significant time and cost savings as we accelerate towards another phase of drilling operations at Redmoor. For the cost of drilling three twin drillholes, the programme has allowed for the inclusion of data from 30 historical drillholes to the model. The Board applaud the CRL team on delivering these positive results and outcomes.

With the new model taking shape, and the remaining drill results from the 2025 programme expected very soon, we look forward to the production and announcement of the new Redmoor MRE before the end of Q1 2026."

I see us closer to 50p based on cash generation and growth in the far east. 80p if we do a deal with Serica