TU TUNG American Tungsten Corp Loading... : Investor Sentiment and Bull/Bear Views

American Tungsten's recent underground drilling at the IMA Mine intersected tungsten mineralization in all six holes, confirming continuity of the vein system and aligning with historical models. The company is expanding the drill program by 20% and has a second drill platform operational, which the author views as evidence of management confidence and efficiency. An updated NI 43-101 resource estimate is expected, and the author believes markets typically react positively to such reports if they show progress. The author expects more newsflow into 2Q26 and sees the company de-risking its path to becoming the first US tungsten producer, a critical metal for defense where China and Russia dominate supply.

Feneck has been getting invested in tungsten and says American Tungsten still has upside. The company has a new CEO this year, raised money at good valuations, and is pursuing Department of Defense/Department of War funding next year. He expects non-dilutive government money to be a recurring theme for critical-mineral companies.

American Tungsten is restarting the past-producing IMA mine in Idaho, which management says has the second-highest tungsten grade in North America, sits on private patented land with only state permitting and no federal/NEPA/water permitting, and carries about $100 per ton of silver and molybdenum by-product credits. The company has about $7M cash after upsizing a private placement to $7M, targets 8%-16% of U.S. supply within 12-18 months, and has drilling, resource update, PEA, and potential non-dilutive government funding from DoD/DOE/DLA or EXIM debt as catalysts. Ali argues the stock is significantly undervalued versus peers on internal PEA NPV, with a tight 40M-share cap table and potential Nasdaq/NYSE American uplisting.