Tungsten West plc (TUN · LSE)
Reopening Britain's Tungsten Mine
Tungsten West owns the Hemerdon mine in Devon, one of the world's largest known tungsten deposits, and is working to restart production of a metal the UK and EU both class as critical.
Bull case for Tungsten West plc
Owns one of the world's biggest tungsten deposits
Hemerdon is a rare large-scale tungsten resource sitting inside a stable Western country.
Mine already built, so restart costs less
Pit, plant and permits already exist, so restarting is cheaper than building from scratch.
Waste rock sold as construction aggregate
Crushed rock left over from mining can be sold locally, adding a second revenue line.
Bear case for Tungsten West plc
Restart depends on raising more money
The company must secure funding before the mine can produce and sell anything.
Previous owner went bust at this mine
Hemerdon's last operator failed commercially, so the site carries a difficult operating history.
Tungsten price and Chinese supply set the economics
Beijing controls most tungsten supply and can move prices the company cannot influence.