Tungsten West plc said it was progressing further debt funding as it continues preparations to restart production at its Hemerdon tungsten-tin mine, north of Plymouth in Devon. PRODUCTION Talks with “a number of potential lenders” have advanced to term sheet stage, which are additional to August 2025 expression of interest from the US EXIM bank. […]
Tag: Tungsten West plc
Tungsten West CFO acquires shares via CLN
Tungsten West plc chief financial officer and director Philip Povey has become interested in 3,662,100 ordinary shares, of one pence each in the company, following mandatory conversion of £109,863.01 convertible loan notes. MINE The company said that the conversion, at three pence per ordinary share, is through Umbrella Mountain Ltd, which Mr Povey controls. He is now the […]
Tungsten West issues 585m new shares
Tungsten West plc has issued 584,831,728 new ordinary shares to convert a portion of 2023 loan notes, amended in 2025, at a price of three pence per ordinary share of one pence each in the company. TVRs Following the conversion, a total of £12.9 million notes, including accrued interest, remain outstanding to 31 December 2025. […]
Tungsten West increases losses
Tungsten West plc posted a total loss of £40.4 million and cash reserves of £400,000 for its Hemerdon mine project in Devon. POSITIVE For the six months to 30 September 2025, operating losses of £3.8m added to a £37m non-cash fair value adjustment to convertible loan notes. The adjustment followed a rise in share price […]
Tungsten West agrees £4m bridge loan
Tungsten West plc has arranged an unsecured £4 million bridge loan facility and conditionally agreed the full conversion of the 2023 convertible loan notes, with the same existing investors. PRODUCTION The agreement will advance of the “overall construction funding package” for the company’s Hemerdon tin-tungsten mine in Plympton, Devon. The bridge facility, which accrues 15% […]
Tungsten West appoints Phil Povey as CFO
Tungsten West plc has appointed current interim chief financial officer Phil Povey permanently to the post and as an executive director on the board, with immediate effect. Mr Povey has more than 18 years’ international experience in mining and mining services, covering financial management, commercial strategy and operational leadership. He has proven ability to build […]