New Risk • Jul 12
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Negative equity (-UK£41m). Earnings have declined by 32% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 5x increase in shares outstanding). Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported September 2025 fiscal period end). Share price has been volatile over the past 3 months (9.0% average weekly change). Announcement • Jul 08
Tungsten West PLC Provides an Update on Project Commissioning At Hemerdon Tungsten and Tin Mine Tungsten West PLC confirmed that it will begin commissioning of its phased production ramp-up later this month. Tungsten West has commenced an enhanced programme of stakeholder engagement, including local community and regulators, to ensure all parties are informed of the timing, scope and staged nature of the commissioning activities. This programme is consistent with the Company's previously stated timeline, which includes recommissioning of the fines gravity circuit and downstream processing facilities during Third Quarter 2026. The Company remains on track for the next milestone of commissioning, the coarse gravity circuit, in Fourth Quarter 2026, with full project commissioning expected in First Quarter 2027. The Project is also forecast to be completed within budget. Announcement • Apr 10
Tungsten West plc Announces Executive Appointments Tungsten West PLC has appointed Mr. Ron Day as Chief Operating Officer. Ron brings over 35 years of global mining experience, with specialist expertise in taking projects from start-up to world class steady-state operation. Ron's recent roles include General Manager for Operations at Perenti Ltd.'s African Mining Services division, covering several operating sites, including project start-up across Africa, and Project Director for Thiess in Botswana, as well as numerous project manager and operational leadership roles internationally. Additionally, key senior leaders across the business were also appointed during First Quarter 2026, helping to further strengthen the Hemerdon team. These roles include: Director of Processing: Stephen Taylor, a qualified metallurgist who has 18 years of international mineral processing experience, including most recently 13 years working at Masan High-Tech Minerals Nui Phao's world scale tungsten operation in Vietnam, where his last role was Processing Manager. Stephen will join Tungsten West in May 2026 following completion of his current employment notice period and is subject to the approval of a UK work visa. Director of Maintenance: John Roberts who has 27 years of mining maintenance experience internationally and in the UK, most recently at Barrick's North Mara mine in Tanzania, and former roles as Asset Management Specialist for Perenti in Africa and Maintenance Manager for Capital Ptd. John has directly managed multiple mining project start-ups across Africa from major project start-up and commissioning to maintenance leadership. Director of Mining: Henry Chalcraft, a qualified mining engineer with 22 years of international and UK mining experience, including several years working previously at Hemerdon as the Senior Mining Engineer and range of international technical postings. Manager Environment, Social Governance (ESG): Barnaby Hudson, over 23 years in ESG with most recent roles with Imerys British Lithium as Head of Environment and Permitting, and prior experience working at Hemerdon as the Sustainability Manager and range of international and UK positions. 
