Guardian Metal Resources AIM:GMET
- Incorporated
- United Kingdom
- Chief executive
- Oliver Friesen
- Reports in
- USD
- Companies House
- 13351178
Exploration and development company advancing tungsten projects in Nevada, USA, principally Pilot Mountain and Tempiute, positioning itself around Western critical-minerals security given China's dominance of tungsten supply. Pre-revenue; has attracted US government-linked funding interest.
Read straight from the annual reports
131c at close on 5 Oct 2026 · 4 reported years, 2022–2025
| Line | FY202206/22 | FY202306/23 | FY202406/24 | FY202506/25 | FY2026unreported |
|---|---|---|---|---|---|
| EBITDA | — | — |
USD millions, negatives in brackets. Per-share lines in cents, share counts in millions. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated. The share price above is drawn to the same columns: each close sits over the financial year it fell in.
2 years, at a glance
Operating profit before depreciation and amortisation — a rough measure of trading cash before capital spending.
C000582-AR-2023-ch
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Pre-revenue exploration stage - no revenue generated
Consolidated Statement of Comprehensive Income shows Revenue and Gross profit of nil for both FY2025 and FY2024
page 27Rising administrative expenses (consulting, director fees, general regulatory/admin costs)
Administrative expenses of US$2,719k (2024: US$1,376k); the increase mainly arose from salaries, consulting and professional fees along with general regulatory and administration expenses
page 7Looking ahead, Guardian's priorities are clear: advance Pilot Mountain and Tempiute through the next stage of technical and economic studies... Guardian is well positioned to deliver on its ambition of becoming America's next tungsten producer. We also have announced that we plan to pursue a USA listing.
page 623 July 2025: Golden Metal Resources LLC awarded US$6.2m by the US Department of Defense (under Title III, Defense Production Act) to support Pilot Mountain pre-feasibility study and environmental studies
page 55The Directors do not recommend a dividend for FY2025 (2024: US$ Nil). The Company intends to deliver shareholder returns through capital appreciation and, in future, via dividends or distribution of assets.
page 12Unqualified/unmodified audit opinion from PKF Littlejohn LLP (David Thompson, Senior Statutory Auditor); auditor identified no material uncertainty relating to going concern. Directors' cash flow forecasts to December 2026 (supported by the July 2025 US$6.2m DoW award and US$21m placing) indicate sufficient funds. Two key audit matters were identified: (1) carrying value of intangible exploration and evaluation assets (Note 8), and (2) recoverability of intercompany receivables from subsidiaries (Company only, ECL assessment).
page 21- Mining, exploration and development risk - no certainty that expenditure to date or planned will result in profitable commercial operations; no projects currently in productionp.8
- Title matters and third-party claims - Mining Claims may be subject to undetected defects; failure to comply with BLM/claim maintenance fees may invalidate titlep.8
- Environmental and health & safety risk associated with exploration/development activitiesp.8
- Strategic risk - Group's strategy may not deliver results expected by shareholdersp.8
Read from C000582-AR-2025-ch.
4 annual reports read, FY2022 to FY2025
Open a year to see what its report said. Every line in it carries the page it was read from.
Sources: Companies House (4)
FY2026Next report expected 22 Nov 2026