Onshoring of critical metals

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U.S. Department of Defense Awards $6.2M to Golden Metal Resources for the Pilot Mountain Project
Prnewswireยท 2025-07-23 13:24
Core Insights - Guardian Metal Resources plc's subsidiary, Golden Metal Resources (USA) LLC, has received a US$6.2 million award from the U.S. Department of Defense to expedite the development of the Pilot Mountain tungsten project in Nevada [1][8] - The funding is aimed at advancing the pre-feasibility study and conducting environmental studies necessary for commercial production, positioning the project as the only U.S. mined source of tungsten [5][8] Company Developments - CEO Oliver Friesen expressed gratitude to the U.S. Department of Defense for their support, highlighting the award as a significant milestone for the company in 2025 [3][4] - The funding is described as non-dilutive to shareholders, meaning it will not affect the ownership structure of Guardian Metal [6] Project Details - The DPA Title III funding will facilitate key workstreams associated with the Pilot Mountain pre-feasibility study, which is currently underway [5][8] - The project aims to contribute to U.S. national security and economic objectives by establishing a reliable domestic source of mined tungsten [4][8]