Tungsten mining company Guardian Metal Resources sets terms for $50 million US IPO
IPO Overview
Guardian Metal Resources, a Tungsten-focused exploration-stage mining company with projects in Nevada, announced terms for its IPO on Monday.
The London, United Kingdom-based company plans to raise $50 million by offering 3.1 million ADSs at a price of $16.35, the as-converted March 12 close of its shares on London’s AIM market （GMET）。
Guardian Metal Resources is an exploration-stage mining company focused on tungsten and other minerals in Nevada. Its main projects are the Pilot Mountain and Tempiute tungsten properties, both located in historic mining districts with prior third-party production. In addition to tungsten, it holds early-stage copper, gold, silver, and lithium exploration properties. Current activities include engineering work to support a feasibility study at Pilot Mountain and ongoing exploration and resource-definition drilling at Tempiute.
Guardian Metal Resources was founded in 2021. It plans to list on the NYSE American under the symbol GMTL. BMO Capital Markets and Cantor Fitzgerald are the joint bookrunners on the deal. It is expected to price the week of March 16, 2026.
About the Company
We are a U.S.-focused exploration-stage critical minerals company with a portfolio of tungsten and polymetallic exploration projects located in the State of Nevada. Our principal tungsten asset is the Pilot Mountain project, followed by the Tempiute project, which are both situated in historic tungsten districts with well-known occurrences of scheelite-bearing skarn mineralization that have seen prior tungsten mining activity by third parties. In addition, we hold early-stage copper, gold, silver and lithium exploration properties, which we believe provide optionality and exposure to broader critical-minerals thematic trends. Tungsten is designated as a critical mineral in the United States and the European Union. Our operational activities include detailed engineering activities to support the completion of a feasibility study at Pilot Mountain and exploration and resource definition drilling at Tempiute. These programs are conducted through our U.S. subsidiaries and supported by independent consultants, including qualified persons as defined under Subpart 1300 of Regulation S-K. In addition to ongoing work at Pilot Mountain and Tempiute, we manage a portfolio of earlier-stage exploration projects, including the Garfield gold-silver-copper project, the Golconda gold project, the Kibby Basin lithium project and the Stonewall gold-silver project.
