Tungsten West


Primary ticker: AIM:TUN
Stage of development:  Development, Production
Primary minerals: Tungsten, Tin, Aggregates
Project to promote: Hemerdon
Project location: United Kingdom
Website: www.tungstenwest.com
Corporate video: Click here

Tungsten West Plc is a mining development company focussed on restarting the world-class Hemerdon tungsten and tin mine on the outskirts of Plymouth UK.

The mine is categorised as a world class deposit due to the scale of the deposit, the second largest reserve of tungsten in the world.

With the demand for strategic metals, including tungsten and tin, increasing rapidly due to heavy use in new technology, Tungsten West aims to meet this demand by restarting production at Hemerdon during 2023.

Cash: GBP£14.5m

Major shareholders:
Baker Steel Resources Trust – 14%
Schroder’s – 8%
Henry Maxey – 8%
Lansdowne Partners – 8%
Simon Nixon – 5%
Management Ownership – 6%

Management Profile

Neil Gawthorpe – CEO
Neil holds a Bachelor of Engineering (Hons) in Mineral Engineering. In almost 30years in the mining industry, Nail has held various roles, both operationally and as a consultant across multiple jurisdictions. Most recently Neil held the role of Senior Vice President (“SVP”) Business Development at Allied Gold, where he was responsible for the due diligence on potential mergers and acquisitions, as well as leading transitional management and integration at newly acquired assets. Neil also spent nine years as part of the executive team at Sierra Rutile Limited, transforming a struggling operation and transforming it into the world’s largest rutile producer.

What is your rationale for taking part in 121 Mining Investment?

Open to all, recently released the summary results of our feasibility study, highlighting the strong economics, a re-optimised processing strategy & strong ESG credentials.

What recent news would you like to highlight to investors attending?

16.01.23 Published the summary of results from our Feasibility Study

What are your key goals in 3, 6 and 12 Months?

3 Months:
Commence rebuild

6 Months:
Execute rebuild

12 Months:
Enter into commercial production

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

Permitting is a risk, however we have successfully obtained the Mine Waste Facility and pit abstraction licence. We are currently working closely with regulators and stakeholders to obtain the outstanding 3 permits and making great progress.

What do you think makes your company such a compelling investment?

Tungsten demand will see a demand shock from defence, oil and gas and the mining industries in the next few years. Russia and China produce 87% of the World’s tungsten and to have such a large and low-cost mine in a OECD country makes it a strategic asset in a strategic commodity.

What are the top 3 key investor takeaways?

Globally significant asset, near term production, undervalued share price.