Stonegate Capital Partners Initiates Coverage on American Tungsten Corp. (TUNG)

Core Insights - Stonegate Capital Partners has initiated coverage on American Tungsten Corp. (CSE: TUNG) [1] Financial Performance - In Q1 2025, American Tungsten Corp. reported a net loss of C$1.87 million, compared to a net loss of C$63.7 thousand in Q1 2024, indicating a significant increase in losses [1][5] - Total assets increased to C$2.36 million from C$1.46 million in Q4 2024, primarily due to a higher cash balance of C$1.25 million following a multi-tranche private placement [1] - Shareholders' equity more than doubled to C$2.04 million, and the company remains debt-free, providing flexibility for ongoing exploration [1] Expenditures - Key expenses included C$663.6 thousand for investor relations, C$191.3 thousand for exploration and evaluation, and C$461.8 thousand for professional fees, reflecting the company's aggressive strategy to advance its flagship U.S.-based project [1][5]