Allied Critical Metals has closed a $15 million funding tranche, boosting resources for its Borralha and Vila Verde tungsten projects in Portugal. The funding supports a 20,000-meter drilling campaign and pilot plant development, aiming for tungsten concentrate production. The Borralha project was designated an EU Strategic Project, streamlining permits and enhancing financing access. Despite a net loss in FY2026 due to exploration costs and share-based compensation, the company’s cash position strengthened to support near-term operations.
Allied Critical Metals recently closed a $15 million funding tranche to advance its tungsten projects in Portugal. For readers following the Basic Materials sector, here is Pluang's market snapshot as of Oct 20, 2026 19:11 WIB: out of 83 priced US stocks, 19 rose and 59 fell. AngloGold Ashanti Limited (AU) traded at USD 89.64 with a typical hold time of 49 days and Pluang order activity showing 76% sell and 24% buy, Hycroft Mining Holding Corporation Class A (HYMC) was at USD 16.53, and First Majestic Silver Corp. (AG) at USD 15.67, both down slightly.
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