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Guardian Metal Resources PLC on Tuesday said it has become a member of the US government’s Defense Industrial Base Consortium, and the Cornerstone Program.
Guardian Metal shares jumped 18% to 87.52 pence on Tuesday morning in London. Earlier Tuesday, the stock set a new 52-week high of 97.00p.
The Nevada-focused tungsten exploration company said it was recently awarded $6.2 million by the US Department of Defense to be used for continuing work at Pilot Mountain, one of the firm’s co-flagship Nevada-based tungsten projects.
It said the DIBC is focused on ‘identifying, developing, and testing cutting-edge capabilities, while also addressing supply chain issues, critical mineral extraction, and scaling emerging technologies’.
Cornerstone, managed by the US Army, ‘focuses on developing prototype projects and capabilities to address specific needs within the defence-related industrial base, such as improving artillery systems or enhancing the supply chain for critical materials’.
Guardian said being in the DIBC provides potential opportunities to access funding and partnerships.
‘Collectively, these milestones underscore the strategic importance of our tungsten projects to US national security, and we look forward to further strengthening our relationship with the US government in support of these critical objectives,’ said Guardian Chief Executive Officer Oliver Friesen.
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