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Tungsten West Advances Funding Talks to Restart Hemerdon Mine in UK

MT Newswires·12/09/2025 06:09:48
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06:09 AM EST, 12/09/2025 (MT Newswires) -- Tungsten West (TUN.L) is advancing discussions with certain parties to secure the debt and equity funding needed to restart production at the Hemerdon tungsten and tin mine in Devon, UK. The miner agreed on a bridge loan facility of up to 4 million pounds sterling from its three largest noteholders, Lansdowne Partners (UK), Drakewood Investments, and Henry Maxey, according to a Tuesday release. It also conditionally agreed to terms allowing full conversion of its 2023 convertible loan notes by issuing non-voting B-shares, which grant the same economic rights as ordinary shares. The project financing is expected to be finalized in the first quarter of 2026.