Abenójar Tungsten

Abenójar Tungsten (Ticker: ABT LN) is developing the El Moto underground tungsten and gold project in Ciudad Real, central Spain. At steady state, the project is expected to produce approximately 4,227 tonnes of contained tungsten trioxide per year in concentrate. It has an initial 18-year mine life based on existing reserves, and a long-term exclusive offtake agreement with Traxys covers its production.

The offering was priced at GBP 1.10 per share, within the indicative GBP 1.10–1.40 range. The base offering comprises 129,517,962 newly issued shares; existing shareholders are not selling shares. It represents approximately GBP 142.47 million in gross proceeds, equivalent to approximately $190.91 million, with funds intended for project development costs. Unconditional trading on the London Stock Exchange began on October 30, 2026. Estimated IPO market capitalization is GBP 522.20 million, or approximately $699.75 million.

Construction began in June 2026, and first production is targeted for the first quarter of 2029.