Tungsten West (LON:TUN) Hits New 12-Month High - Here's Why

Key Points

• Tungsten West shares hit a new 52-week high — the stock traded as high as GBX 41 (last GBX 40.64) on about 1.8 million shares, up roughly 6.1% and valuing the company at ~£516.4m.
• Company focused on restarting the Hemerdon mine — Hemerdon, billed as the world's third-largest tungsten resource, is targeted to resume production (first production expected in 2022) with an estimated mine life of 18.5 years to supply tungsten and tin.

Shares of Tungsten West PLC (LON:TUN - ) reached a new 52-week high on Thursday . The company traded as high as GBX 41 and last traded at GBX 40.64, with a volume of 1802405 shares. The stock had previously closed at GBX 39.

Tungsten West Trading Up 6.1%

The firm has a market capitalization of £516.41 million, a price-to-earnings ratio of -1.59 and a beta of 0.30. The business has a 50-day moving average of GBX 31.59 and a two-hundred day moving average of GBX 18.10. The company has a quick ratio of 7.04, a current ratio of 0.06 and a debt-to-equity ratio of -167.64.

About Tungsten West

Tungsten West Plc is a UK based company focussed on recommencing production at the Hemerdon tungsten and tin mine in Devon, England. The Hemerdon mine is the world's third largest Tungsten resource. The mine has had over £170m spent on it via the previous operator, with first production expected in 2022 and a mine life of 18.5 years. The Company is focused on rebuilding and restarting the mine to supply two critically important strategic minerals in tungsten and tin both domestically and globally.

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