Core Viewpoint - Allied Critical Metals Inc. has announced significant results from its 2023-2024 drill program at the Borralha Tungsten Project in Portugal, highlighting the potential for a stable and scalable source of tungsten concentrate outside of China and Russia [4][11][23]. Drill Program Highlights - The drill program involved over 3,685 meters drilled across 16 holes, with notable intercepts including 0.68% WO₃ over 2.0 meters and 0.63% WO₃ over 16.0 meters [5][6][11]. - The Borralha Technical Report indicates a mineral resource estimate of 4.98 million tonnes at 0.22% WO₃ (Indicated) and 7.01 million tonnes at 0.20% WO₃ (Inferred) [11]. Economic Context - Tungsten is classified as a critical metal, with approximately 87% of the global supply controlled by China, Russia, and North Korea, making Allied's project strategically important for Western markets [23][22]. - The focus on wolframite tungsten mineralization allows for lower processing costs and higher recoveries, enhancing the economic viability of the project even at lower grades [20][22]. Future Plans - The company plans to provide an updated Mineral Resource Report in Q4 2025, which will include results from over 5,700 meters of drilling from the current program [11]. - Continued exploration efforts are aimed at further defining the resource potential of the Borralha Tungsten Project [12].

Group 1: Recent IPO Activity - Six companies, led by two mining firms, went public in the U.S. last week, including three blank check companies [1] - Aura Minerals plans to raise $210 million with a market cap of $2.1 billion, primarily generating revenue from gold and some copper [1] - Almonty Industries aims to raise $75 million with a market cap of approximately $1.5 billion, focusing on tungsten production for the defense industry [1] - Majestic Ideal Holdings, a Chinese supply chain management company, raised $15 million but saw a significant drop in share price, closing down 45% [1][2] Group 2: Upcoming IPO Filings - Three companies submitted initial filings last week, each planning to raise over $100 million: Bullish, Miami International, and Heartflow [2][3] - Avidbank, a California-based commercial bank, filed for a $70 million IPO [3] Group 3: Upcoming IPO Outlook - NIQ Global Intelligence plans to raise $1.1 billion with a market cap of $6.5 billion, serving as a leading provider of consumer intelligence [4][7] - Accelerant aims to raise $550 million with a market cap of $4.2 billion, operating a data-driven risk exchange for professional insurance [5][7] - McGraw Hill plans to raise $500 million with a market cap of $4 billion, focusing on educational publishing and digital learning solutions [5][7] - Carlsmed, a medical technology company, plans to raise $101 million with a market cap of $430 million, specializing in spine surgery solutions [6][7]