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Highlights

  • Guardian Metal’s U.S. subsidiary was awarded USD 6.2 million under the Defense Production Act Title III.
  • Funds will support a pre-feasibility study and environmental work for the Pilot Mountain project in Nevada.
  • The non-dilutive award involves no commercial covenants and preserves future sale flexibility for tungsten output.

Guardian Metal Resources plc (AIM: GMET) has announced that its wholly owned U.S. subsidiary, Golden Metal Resources (USA) LLC, has been awarded USD 6.2 million in funding from the United States Department of Defense. The funding is part of the Defense Production Act Title III program and is designated to support the development of the company’s Pilot Mountain tungsten project in Nevada.

The awarded funds will be used to accelerate work on a pre-feasibility study and related environmental assessments. Guardian Metal stated that the study is already in progress and that this financial support allows immediate advancement toward the goal of developing a domestic source of mined tungsten in the United States.

According to the company, the Pilot Mountain project could become the only active source of mined tungsten in the U.S. The funding is considered non-dilutive to Guardian Metal shareholders, and the agreement includes no commercial restrictions that would limit the company's ability to market or sell tungsten concentrates.

Guardian Metal’s management team will oversee the funded activities and maintain periodic reporting to the Department of Defense. The company described the award as a significant milestone in its 2025 development timeline and emphasized its alignment with U.S. efforts to secure domestic supplies of critical minerals.