U.S. Department of Defense Awards $6.2M to Golden Metal Resources for the Pilot Mountain Project
Guardian Metal Resources (OTCQX:GMTLF) has secured a significant $6.2 million award from the U.S. Department of Defense under Title III of the Defense Production Act of 1950. The non-dilutive funding will accelerate the development of the company's flagship Pilot Mountain tungsten project in Nevada.
The funding will support the completion of a pre-feasibility study and environmental studies for what could become the only U.S. mined source of tungsten. The award contains no commercial covenants that would impair Guardian Metal's business operations or future tungsten concentrate sales to the industrial base.
Guardian Metal Resources (OTCQX:GMTLF) ha ottenuto un importante finanziamento di 6,2 milioni di dollari dal Dipartimento della Difesa degli Stati Uniti, ai sensi del Titolo III del Defense Production Act del 1950. Questo finanziamento non diluitivo accelerer脿 lo sviluppo del progetto di punta dell'azienda, il progetto tungsteno Pilot Mountain in Nevada.
I fondi supporteranno il completamento di uno studio di prefattibilit脿 e delle valutazioni ambientali per quella che potrebbe diventare l'unica fonte di tungsteno estratta negli Stati Uniti. Il finanziamento non prevede vincoli commerciali che possano compromettere le operazioni aziendali di Guardian Metal o le future vendite di concentrato di tungsteno al settore industriale.
Guardian Metal Resources (OTCQX:GMTLF) ha asegurado un importante premio de 6,2 millones de d贸lares del Departamento de Defensa de EE. UU. bajo el T铆tulo III de la Ley de Producci贸n de Defensa de 1950. Esta financiaci贸n no dilutiva acelerar谩 el desarrollo del proyecto principal de la compa帽铆a, el proyecto de tungsteno Pilot Mountain en Nevada.
Los fondos apoyar谩n la finalizaci贸n de un estudio de prefactibilidad y estudios ambientales para lo que podr铆a convertirse en la 煤nica fuente de tungsteno extra铆da en EE. UU. La subvenci贸n no contiene cl谩usulas comerciales que puedan afectar las operaciones comerciales de Guardian Metal ni las futuras ventas de concentrado de tungsteno a la industria.
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Guardian Metal Resources (OTCQX:GMTLF) a obtenu une importante aide de 6,2 millions de dollars du D茅partement de la D茅fense des 脡tats-Unis en vertu du Titre III de la Defense Production Act de 1950. Ce financement non dilutif acc茅l茅rera le d茅veloppement du projet phare de la soci茅t茅, le projet de tungst猫ne Pilot Mountain au Nevada.
Ce financement soutiendra la finalisation d'une 茅tude de pr茅faisabilit茅 ainsi que des 茅tudes environnementales pour ce qui pourrait devenir la seule source de tungst猫ne extraite aux 脡tats-Unis. Cette aide ne comporte aucune clause commerciale susceptible d'entraver les op茅rations commerciales de Guardian Metal ou les futures ventes de concentr茅 de tungst猫ne 脿 l'industrie.
Guardian Metal Resources (OTCQX:GMTLF) hat eine bedeutende F枚rderung in H枚he von 6,2 Millionen US-Dollar vom US-Verteidigungsministerium im Rahmen von Titel III des Defense Production Act von 1950 erhalten. Die nicht verw盲ssernde Finanzierung wird die Entwicklung des Flaggschiffprojekts des Unternehmens, des Pilot Mountain Wolframprojekts in Nevada, beschleunigen.
Die Finanzierung unterst眉tzt den Abschluss einer Vorstudie und Umweltstudien f眉r das, was die einzige in den USA abgebauten Wolframquelle werden k枚nnte. Die F枚rderung enth盲lt keine kommerziellen Auflagen, die die Gesch盲ftst盲tigkeiten von Guardian Metal oder den zuk眉nftigen Verkauf von Wolframkonzentrat an die Industrie beeintr盲chtigen w眉rden.
- Secured significant $6.2M non-dilutive funding from U.S. Department of Defense
- Project positioned to become the only U.S. domestic source of mined tungsten
- No commercial covenants restricting business operations or future sales
- Strategic government support validates project importance for national security
- Project still in pre-feasibility study phase with no immediate revenue generation
- Success dependent on multiple regulatory approvals and third-party consents
- Significant technical and operational uncertainties remain as outlined in forward-looking statements
Highlights:
- Golden Metal Resources (
USA ) LLC, a wholly-owned subsidiary of Guardian Metal, has been awardedUS from the$6.2M U.S. Department of Defense 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 for the Pilot Mountain tungsten Project. - With this funding now secured, the Company plans on immediately advancing the pre-feasibility study for its Pilot Mountain tungsten project, on the way to its ultimate goal of playing a significant role in the
U.S. onshoring efforts of critical metals to supportU.S. national security and economic objectives.
Oliver Friesen, CEO of Guardian Metal, commented:听
"I firstly want to extend my thanks to the
"Now is the time for the
J.T. Starzecki, Chairman of Guardian Metal, commented:听
"On behalf of the Guardian Metal organization, I commend the determined efforts of our team and the working relationship they have built with the
"This funding will unlock our ability to put forth a robust pre-feasibility study (PFS) which will detail the scope of Pilot Mountain and help us advance the Project towards our ultimate goal of being the newest domestic producer of this critical mineral."
US Government Funding to Advance the Pilot Mountain Tungsten Project
Funding through the DPA Title III program is designated for key workstreams associated with the Pilot Mountain pre-feasibility study which is currently in progress. In addition, a range of environmental studies will be undertaken and funded under the Award, supporting the pursuit of commercial production at Pilot Mountain, which would represent the only
The DPA Title III award is non-dilutive to Guardian Metal shareholders and no commercial covenants are included in the Award that would impair Guardian Metal's current business, nor the future sale of tungsten concentrates to the industrial base. Guardian Metal's management team will lead the work and periodically report progress to the administrators of the Award.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (which forms part of domestic听UK听law pursuant to the European Union (Withdrawal) Act 2018).
Forward Looking Statements
This announcement contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, competition for qualified staff, the regulatory process and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the timing and granting of regulatory and other third party consents and approvals, uncertainties regarding the Company's or any third party's ability to execute and implement future plans, and the occurrence of unexpected events.听
Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors.
For further information visit 听or contact the following:
Guardian Metal Resources plc 听 Oliver Friesen (CEO) 听 | Tel: +44 (0) 20 7583 8304 |
Cairn Financial Advisers LLP 听 Nominated Adviser 听 Sandy Jamieson/Jo Turner/Louise O'Driscoll 听 | Tel: +44 20 7213 0880 |
Shard Capital Partners LLP 听 Broker 听 Damon Heath/Erik Woolgar 听 | Tel: +44 (0) 20 7186 9000 |
听
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SOURCE Guardian Metal Resources
FAQ
What is the significance of the $6.2M Department of Defense award to Guardian Metal Resources (GMTLF)?
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