Guardian Metal Resources has received a significant boost for its Nevada tungsten operations, securing a $6.2 million award from the U.S. Department of Defense alongside a successful $21 million equity fundraising round.

The award and fundraising are a major vote of confidence in Guardian’s ambitions in the US and pay testament to the firm’s execution of its strategy. In many respects, Guardian has achieved what the board of every junior miner dreams of, but few pull off.

The Defense Department funding, awarded to Guardian Metal’s wholly-owned subsidiary Golden Metal Resources, will accelerate development of the company’s flagship Pilot Mountain tungsten project in Nevada.

The award specifically supports the pre-feasibility study for the project as the U.S. pursues national security objectives to onshore critical metals production.

“I firstly want to extend my thanks to the U.S. Department of Defense and Defense Production Act Purchases team for their tireless effort to support the domestic critical minerals industry and the Pilot Mountain Project, in particular,” said Oliver Friesen, CEO of Guardian Metal.

“This Award is a step-change in our business, as we work towards our goal of supporting the U.S. industrial base with Mined in America tungsten.”

Guardian Metal has successfully raised approximately £15.6 million ($21 million) at 60p per shares. The fundraising was led by the company’s largest shareholder, UCAM Limited, which made a £10 million subscription, increasing its stake to around 28.7% of the company

The combined funding will be strategically deployed across Guardian Metal’s two flagship Nevada tungsten projects during the first half of 2026.

Fundraise proceeds will support ongoing Pilot Mountain Project drilling operations, metallurgical test work, engineering studies, and permitting activities. The Defense Department funding will enable an advanced pre-feasibility study incorporating both the Desert Scheelite deposit and recently completed drilling at the Garnet Zone.

The Tempiute Project will also be advanced through a drilling program to define an open pit resource, advance engineering work leveraging existing mine infrastructure, progress project permitting, and evaluate surface stockpiles from previous mining operations.

“Securing approximately US$27.2 million in total funding – through a combination of a U.S. government award and new equity subscriptions – represents a major milestone for Guardian Metal Resources,” Oliver Friesen said.

“This financing positions us to rapidly advance our co-flagship tungsten projects in Nevada , Pilot Mountain and Tempiute, and is a strong endorsement of our mission to establish a secure, Mined-in-America supply of Tungsten – a critically important defense metal.”

Guardian Metal Resources shares were 10% higher at 67p at the time of writing and have gained 130% so far in 2025.

JD Wetherspoon has released a customary concise trading update reporting like-for-like sales growth of 5.1% for the 12 weeks to 20 July 2025, maintaining the same growth rate year-to-date.

The group is benefitting from strong sales of wine, and Guinness is driving draught sales higher. Food sales have also picked up with Chicken-based meals proving popular.

The pub chain currently operates 794 outlets after opening three new pubs but selling nine others during the year. Additionally, five new franchised locations have launched, bringing the total number of franchised Wetherspoon pubs to eight.

The company has also acquired eight freehold reversions for £19 million, purchasing properties where it was previously a tenant.

The firm expects year-end net debt of approximately £720 million, with £220 million of headroom under existing facilities. This gives the pub chain plenty of breathing room and marks an improvement in its financial health compared to recent periods.

Full preliminary results are scheduled for release on 3 October 2025.

“The company has benefitted from favourable weather in the fourth quarter, so that profits are anticipated to be in line with market expectations, notwithstanding the high tax and labour increases for the hospitality industry, which have been widely reported,” said chairman of JD Wetherspoon, Tim Martin.

“In the next financial year, as well as investing in areas such as staff rooms, glass racks for “branded” glasses, and gardens, the company plans to open approximately 15 new managed pubs and about the same number of franchised pubs.”

“Sales volumes, which were very slow post-pandemic, have recently overtaken pre-pandemic levels. Wine, for example, has shown strong growth, with Villa Maria from New Zealand and Prosecco from Italy both shooting the lights out. Spirits have improved in recent months and whisky volumes are significantly above pre-pandemic levels.

“Draught volumes are performing strongly with Guinness being the standout performer. On the food front, breakfasts, terribly slow post-pandemic, have recovered their lustre and are now well ahead. Chicken, also, has put in a clucking good performance and volumes in recent weeks are up by about 50% compared to pre-pandemic levels.”

JD Wetherspoon shares were flat at the time of writing and are 28% higher year-to-date.

The FTSE 100 was gently undulating between positive and negative territory on Tuesday as investors weighed a raft of solid updates from UK companies with a worrying development for the UK’s spending deficit.

London’s leading index was 5 points higher at 9,015 at the time of writing after touching a fresh intraday record high early in the session.

“Investors are weighing up fresh company results alongside the latest public borrowing figures,” said Matt Britzman, senior equity analyst, Hargreaves Lansdown.

“Despite an overshoot in June, borrowing is clinging to the OBR’s forecasts, but storm clouds are gathering as weaker tax receipts and soaring debt interest payments signal tougher times ahead. With economic growth faltering and spending cuts unravelling, the Chancellor faces a £15-25bn Budget shortfall, likely forcing higher taxes to preserve fiscal discipline.”

While the state of the UK public finances will be a concern for investors, there were reasons to be optimistic in several company updates on Tuesday.

Compass Group was the FTSE 100’s top riser as investors cheered an 8.6% increase in Q3 sales and strong guidance driven by growth in North America and the integration of recent acquisitions. Shares were over 6% at the time of writing.

“For the full year, organic growth is expected at over 8% with underlying operating profit to expand faster at close to 11%,” explained Derren Nathan, head of equity research, Hargreaves Lansdown.

“The group’s also leaping on the opportunity to consolidate this fragmented market, announcing another 1.5 billion Euro acquisition today for Vermaat Group, which operates at the premium end of the market and comes with an impressive growth and margin profile.”

Centrica shares were 4% higher on news that the group would take a 15% stake in the Sizewell C nuclear plant.

“Sizewell C is a compelling investment for our shareholders and the country as a whole, and I look forward to working with our world-class partners, EDF, La Caisse, Amber Infrastructure Group and the UK government, to make the project a great success,” said Chris O’Shea, Group Chief Executive, Centrica.

Housebuilders were among the losers as trader reacted to rising gilt yields in the wake of the public spending figures. Barratt Redrow lost 2.6% and Taylor Wimpey dipped 1.6%.

“Housebuilders were knocked by the public sector finance figures as the rise in gilt yields suggests the market believes interest rates could stay higher for longer,” said Russ Mould, investment director at AJ Bell.

“Housebuilders are desperately waiting for rates to come down as that could make mortgages more affordable and help more people get on the property ladder.’

Pri0r1ty Intelligence Group shares surged on Tuesday after announcing that its sports data subsidiary Halfspace Limited has secured contracts worth approximately £250,000 with an English Premier League football club.

The deal will see Halfspace provide data-driven marketing services to boost the club’s ticketing and hospitality revenues. The club will also use Halfspace’s proprietary Compass ID tracking technology for GDPR-compliant customer data collection and engagement.

Pri0r1ty said that it expects the client to adopt its AI applications across operations to support further growth initiatives.

Pri0r1ty Intelligence Group shares were 18% higher at the time of writing.

“Today’s announcement builds on the contract with a major European sports rights holder announced earlier this month and reflects increasing awareness among high-profile sports teams around the role of data in driving marketing strategies and commercial growth,” said Rory Maxwell, CEO of Halfspace and COO of Pri0r1ty.

“It is further validation of PR1’s compelling business proposition having integrated the Halfspace data and marketing operations into our AI business, and we are well-positioned to capitalise on further opportunities going forward.”

Pri0r1ty Intelligence Group shares have halved from recent highs above 10p as the short-term boost to shares from the adoption of a Bitcoin treasury has evaporated. The group is yet to announce the purchase of any Bitcoin.

Centrica shares rose on Tuesday after the company announced an agreement to acquire a 15% stake in the new Sizewell C nuclear power station, which includes committed construction funding of £1.3 billion.

The deal will see Centrica join HM Government (44.9%), La Caisse (20%), EDF (12.5%) and Amber Infrastructure Group (7.6%) as co-owners of the Suffolk nuclear project under a Regulated Asset Base model.

Centrica expects its equity share to grow to around £3 billion by the time the plant becomes operational, with the company targeting returns above 12%. The investment will be capped at £1.3 billion for the 15% stake, with inflation-protected regulated returns of 10.8% during construction.

Centrica shares were 3.5% higher at the time of writing.

The agreement includes protections against construction delays and cost overruns, plus an initial 20-year offtake agreement for Centrica’s share of the plant’s electricity production.

The transaction is subject to final statutory approval from the Secretary of State, with Revenue Commencement expected in the fourth quarter of 2025. The acquisition is a significant move for Centrica as it seeks to rebuild its infrastructure portfolio with regulated assets that deliver predictable earnings.

“The UK needs more reliable, affordable, zero carbon electricity, and Sizewell C will be critical to supporting the country’s energy system for many decades to come,” said Chris O’Shea, Group Chief Executive, Centrica.

“That’s why I’m delighted to be announcing this milestone investment which will see Centrica commit £1.3 billion for a 15% equity stake in the project, and deepens our long-standing involvement in the UK nuclear industry. This isn’t just an investment in a new power station – it’s an investment in Britain’s energy independence, our net zero journey, and thousands of high-quality jobs across the country.”

When fully operational, it is estimated that Sizewell C will generate enough energy to meet approximately 7% of the UK’s current demand.