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Tungsten Buyers Post Record Numbers as a B.C. Explorer Flags a New Skarn Zone

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  • Two U.S.-listed tungsten companies reported record figures with one achieving a record first-quarter EPS and the other a record order backlog.
  • The global tungsten market is valued at approximately $6.66 billion in 2026 and projected to reach $9.62 billion by 2030 with a 9.6% compound annual growth rate.
  • U.S. policy mandates 100% of tungsten waste sales to domestic buyers from August 2026 to August 2027 and restricts defense procurement from China, Russia, Iran, North Korea, or Russia from January 2027.
  • The United States currently has no active tungsten mines, driving investor interest in Western hard-rock occurrences.
  • GoldHaven Resources identified a new tungsten skarn at its Magno Project returning 8,850 ppm tungsten alongside 1,755 ppm copper.
  • GoldHaven also discovered a molybdenum occurrence returning 2,800 ppm near the historic Cassiar Moly deposit.
  • Kennametal reported a 54% sales increase to $768 million for fiscal 2027 Q1 with record EPS of $3.48.
  • The Elmet Group reported a 55.6% revenue increase to $79.6 million with an open order backlog reaching a record $347.4 million.
  • Fireweed Metals graduated from the TSX Venture Exchange to the TSX under the symbol FWZ on November 5, 2026.
  • Allied Critical Metals secured Strategic Project status for its Borralha Tungsten Project under the EU Critical Raw Materials Act.
  • The Borralha Project holds a mineral resource estimate of 1.0 million tonnes Measured at 0.22% WO₃.
  • Equity Insider disclosed a conflict of interest as its parent company holds shares of GoldHaven Resources Corp.
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