Guardian Metal Resources plc has released its unaudited interim results for the six months ended December 31, 2025, reporting a loss of US$5.2 million, widening from a loss of US$1.1 million in the same period a year earlier. Total assets increased to US$37.6 million over the period.
The company highlighted several key milestones, including securing a US$6.2 million award from the U.S. Department of War to advance its Pilot Mountain tungsten project in Nevada. Guardian also reported a 16% increase in indicated mineral resources at Pilot Mountain and completed the acquisition of additional claims to expand the Pilot North Tungsten Project.
In addition, the group successfully raised US$21 million through an equity fundraising to further support development of its Nevada-based tungsten portfolio.
KEY DEVELOPMENTS IN THE PERIOD TO 31 DECEMBER 2025
· Awarded US$6.2M from the U.S. Department of War under Title III of the Defense Production Act of 1950 (“DPA Title III” or the “Award”) to support the rapid advancement and Pre-Feasibility Study (“PFS”) for the 100%-owned Pilot Mountain tungsten Project in Nevada.
· Completion of a S-K 1300 Technical Summary Report and updated Mineral Resource Estimate (“MRE”) on Pilot Mountain, delivering a 16% increase in the Open Pit Constrained Indicated Mineral Resources vs 2018 Scoping Study, representing strong progress toward completing the PFS and ultimate goal of onshoring U.S. mined tungsten production.
· Acquisition of additional mining claims in the Walker Lane Mineral Belt, approximately 15km northwest of Pilot Mountain in Nevada, to form what is to be known as the Pilot North Tungsten Project.
· Acquisition of staking of additional lode claims at Tempiute, which include the historical Schofield open-pit mine and extending mineralised strike length at Tempiute to approximately 3km.
· Rapid advancement of the Tempiute drilling programme with initial visual results confirming tungsten mineralisation with results pending.
· Successfully completed a US$21 million equity fundraise to support key workstreams across the Company’s co-flagship Nevada-based tungsten projects, Pilot Mountain and Tempiute.
· Guardian Metal became a member of the Defense Industrial Base Consortium (DIBC) and the Cornerstone Program, strengthening its relationship with the U.S. government as it focuses on leading the re-establishment of U.S. domestic tungsten production.
· Appointment of Mr. Michael X. Schlumpberger as Non-Executive Director, replacing Mr. Mick Billing.
KEY DEVELOPMENTS SINCE 31 DECEMBER 2025
· There have been no significant developments since 31 December 2025.
For further detail, please see note 13, Post balance sheet events.
GUARDIAN METAL INTERESTS AT TODAY’S DATE
The latest updated review of Guardian Metal’s business interests is provided in the Company’s investor presentation which may be accessed here:
https://www.guardianmetalresources.com/investors/corporate-presentation/
In addition, a single page business overview is provided for investors through the following link:
https://www.guardianmetalresources.com/company/company-profile/
Guardian Metal Resources plc
Oliver Friesen (CEO)
Tel: +44 (0) 20 7583 8304
