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Power Metal Resources PLC has sold its entire remaining stake Guardian Metal Resources PLC, the two companies said on Tuesday. Power Metal is a minerals explorer with projects in North America, Africa, Saudi Arabia and Australia. Guardian Metal is pursuing tungsten exploration and development in US state of Nevada. The 24.7 million Guardian Metal shares were sold at 55 pence each for £13.6 million in total to an investment fund managed by Duquesne Family Office LLC. Duquesne now has a 14.8% stake in Guardian Metal. ‘I am delighted to welcome Duquesne as a major new shareholder, marking a strong endorsement of Guardian’s position in the US critical metals landscape,’ said Guardian Metal Chief Executive Officer Oliver Friesen. ‘With our co-flagship tungsten projects in Nevada now moving into a pivotal growth phase, we are focused on delivering significant value for both Duquesne and our broader shareholder base.’ Power Metal noted that its original investment in Guardian Metal was £1.9 million, and it sold its holding in two disposals worth £22.8 million in total, a nearly 12 times return. ‘It represents a strong validation of our incubator model and gives us considerable firepower now to pursue other opportunities, a number of which have presented themselves to us in recent weeks,’ commented CEO Sean Wade. Guardian Metal shares were up 6.8% to 61.95p early Tuesday in London. Power Metal was up 9.1% at 15.28p. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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