Allied Critical Metals Poised to Become Leading Tungsten Producer with Dual Projects in Portugal

Company Overview - Allied Critical Metals Inc. (ACM) aims to become a leading Western supplier of tungsten, a critical mineral, with two 100% owned advanced stage brownfield projects in northern Portugal [1] - The company is positioned for near-term, low-cost production as global supply chains seek alternatives to Chinese and Russian sources [1] Borralha Tungsten Project - The Borralha Tungsten Project has a current inferred mineral resource of 7.0 million tonnes at an average grade of 0.20% WO₃ and an indicated resource of 4.98 million tonnes at 0.21% WO₃, with by-products including silver, copper, and tin [2] - Historical production at Borralha exceeded 10,000 tonnes of tungsten concentrate with an average grade of 66% WO₃ [2] - Recent drilling confirmed broad intercepts, including 106m at 0.21% WO₃ and 10m at 1.75% WO₃, with test work showing up to 70% tungsten recovery [3] Vila Verde Tungsten-Tin Project - The Vila Verde Tungsten-Tin Project has a historical inferred resource of 7.3 million tonnes, with grades of 1,347 g/t WO₃ and 961 g/t WO₃ [4] - ACM plans to construct a pilot plant and initiate production at Vila Verde by Q4 2025, with a processing capacity of 150,000 tonnes of feedstock per year, producing approximately 250 tonnes of WO₃ concentrate [5] Tungsten Market - Tungsten is classified as a critical mineral by the US and EU, essential for defense, semiconductors, electric vehicles, and advanced manufacturing [7] - Currently, over 84% of global tungsten production is concentrated in China, presenting a significant opportunity for ACM to develop a secure, Western-aligned supply chain [7] - The tungsten market is estimated to be valued at approximately $5 - $6 billion USD, used across various industries including defense, automotive, manufacturing, electronics, and energy [20] Offtake Agreements and Financing - ACM has signed a Letter of Intent for an offtake agreement with Global Tungsten & Powders and is in advanced negotiations with additional international refiners [8] - The company is focusing on non-dilutive financing to preserve shareholder value while accelerating near-term production [8]