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Allied Critical Metals secures $40M to fund Vila Verde tungsten pilot plant, targeting production in late 2026.

Company Fundamentals
24 Apr 2026
Newsfile Corp
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Bullish
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Allied Critical Metals has raised $40 million through a $25 million equity offering and $15 million in project financing to fully fund the Vila Verde Pilot Plant in Portugal. The company aims to begin producing tungsten concentrate by the fourth quarter of 2026, with a secured off-take agreement for 50% of production at a floor price of $1,000 per metric ton unit. This strategic funding supports Allied's plan to fast-track tungsten production amid high global demand and limited supply outside China, Russia, and North Korea. The financing also strengthens the company's balance sheet as it advances toward mine construction at its Borralha Tungsten Project.

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