Tungsten mining exploration and development company Guardian Metal (GMTL.US) prices its IPO at $16.35 per ADS, aiming to raise $50 million.

Focused on tungsten mining, exploration-stage mining company Guardian Metal Resources, which owns projects in Nevada, USA, announced the terms of its initial public offering (IPO) on Monday. The company plans to issue 3.1 million American Depositary Shares (ADS) at a price of $16.35 per ADS to raise $50 million. The company plans to list on the NYSE under the ticker symbol "GMTL". Guardian Metal Resources was founded in 2021. The company is an exploration-stage mining company focused on tungsten mining and other minerals in Nevada. Its primary projects are the Pilot Mountain and Tempiute tungsten mine assets, both located in areas where third-party production has historically occurred. In addition to tungsten mines, the company also holds early-stage exploration assets for copper, gold, silver, and lithium. Current activities include engineering work to support the feasibility study for the Pilot Mountain project, as well as ongoing exploration and resource definition drilling at the Tempiute project.