**Summary**
Guardian Metal Resources PLC, a US-focused exploration-stage company specializing in tungsten in Nevada, has launched a roadshow for its initial public offering (IPO) in the United States. The company aims to raise approximately $50 million by issuing American Depositary Shares (ADSs), each representing five ordinary shares. The ADSs are expected to be listed on the NYSE American under the ticker symbol "GMTL."
Key details of the offering include
**Offering Size** Approximately 3,058,100 ADSs, based on an assumed price of $16.35 per ADS (equivalent to the last reported sale price of £2.45 per ordinary share on AIM).
**Underwriters Option** A 45-day option for underwriters to purchase up to an additional 15% of the offering size.
**Use of Proceeds** Funds will primarily advance the Pilot Mountain tungsten project, exploration and engineering work at the Tempiute project, and other exploration targets, as well as general corporate purposes.
**Underwriters** BMO Capital Markets Corp. (lead book-running manager), Cantor Fitzgerald & Co. (book-running manager), and D.A. Davidson & Co. and Berenberg Capital Markets LLC (co-managers).
The offering is subject to market conditions and regulatory approvals, with no assurance of completion or final terms. Guardian Metal has filed a registration statement with the U.S. Securities and Exchange Commission (SEC), but it has not yet become effective. The company emphasizes that the offering is directed only at qualified investors in the U.S., UK, and EEA, and the announcement contains forward-looking statements subject to various risks and uncertainties.