Guardian Metal set for New York debut after upsized $60 million IPO

Guardian Metal Resources

20/03/2026 09:47

** U.S.-focused exploration-stage tungsten mining company Guardian Metal Resources GMET.L set for NYSE American debut later on Friday under ticker symbol "GMTL"

** GMTL sold 4.44 million American Depositary Shares (ADSs) at $13.50 apiece in upsized IPO for gross proceeds of nearly $60 million

** London, UK-based GMTL, which already trades on the AIM market of the London Stock Exchange, had initially offered 3.06 million ADSs in its U.S. IPO

** GMTL's principal tungsten asset is Pilot Mountain project, which is among largest-known tungsten assets on U.S. soil

** Tungsten, which is designated as critical mineral in U.S. and European Union, is crucial mineral for defense and high-tech applications, including armor-piercing ammunition, missile components, radiation shielding and hypersonic weapons

** BMO Capital Markets acted as lead book-running manager for IPO

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com;))