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

News Provided by Equity Insider on behalf of GoldHaven Resources Corp.

VANCOUVER, British Columbia, Nov. 12, 2026 (GLOBE NEWSWIRE) -- Equity Insider News Commentary - Two U.S.-listed companies that turn tungsten into cutting tools and engineered components have just reported record figures, a record first quarter EPS at one and a record order backlog at the other. Upstream, explorers in North America and Europe are adding new tungsten occurrences, strategic designations and new listings as Western buyers look for supply outside China. Active Companies from around the markets with current developments this week include: GoldHaven Resources Corp. (CSE: GOH) (OTCQB: GHVNF) (FSE: 4QS), Kennametal Inc. (NYSE: KMT), The Elmet Group Co. (NASDAQ: ELMT), Fireweed Metals Corp. (OTCQX: FWEDF), and Allied Critical Metals Inc. (OTCQB: ACMIF).

The Business Research Company puts the global tungsten market at approximately $6.66 billion in 2026 and projects about $9.62 billion by 2030, a compound annual growth rate of roughly 9.6%. Policy is pushing in the same direction. A U.S. Commerce Department allocation order requires U.S. sellers of tungsten waste and scrap to allocate 100% of their monthly sales to domestic buyers from August 27, 2026 through August 27, 2027, and from January 1, 2027, U.S. defense procurement rules restrict tungsten sourced from China, Russia, Iran and North Korea in key military applications.

The United States has no active tungsten mines. That gap is why new Western hard-rock occurrences, and the exploration work that comes before any deposit, are drawing attention from investors and governments alike.

GoldHaven Identifies New High-Grade Tungsten Mineralization at Magno Project, Returning 8,850 ppm Tungsten

• New tungsten-bearing skarn: sample J647906 returned 8,850 ppm tungsten (0.885% W), equivalent to approximately 1.12% WO₃, alongside 1,755 ppm copper, from a newly identified skarn south of Lamb Mountain.
  
  
• New molybdenum occurrence: sample J647976 returned 2,800 ppm molybdenum (0.28% Mo) near the historic Cassiar Moly deposit, with visible molybdenum mineralization documented at the sample location.
  
  
• Underexplored ground: the helicopter-supported program collected 108 rock samples, targeting previously underexplored western portions of the Magno Project.
  
  
• Familiar geology: the new tungsten sample sits in a geological setting similar to the Company’s Dead Goat tungsten skarn.
  
  

GoldHaven Resources Corp. (CSE: GOH) (OTCQB: GHVNF) (FSE: 4QS) announced results from its 2026 helicopter-supported geochemical sampling program at its Magno Project in northwestern British Columbia. The program identified a new tungsten-mineralized skarn south of Lamb Mountain, near the contact with the Cassiar Batholith, in an area not previously identified as a skarn exploration target. The Company said the sample represents an additional high-grade tungsten occurrence within the broader Magno Project.

According to GoldHaven, the new sample location occurs in a geological setting similar to its Dead Goat tungsten skarn, where mineralization is associated with carbonate-hosted skarn development near intrusive contacts. A separate granite sample collected near historic Lamb Mountain skarn trenches returned 710 ppm tungsten, which the Company described as additional evidence of tungsten mineralization associated with the Cassiar Batholith.

The program also turned up a second metal. Sample J647976 returned 2,800 ppm molybdenum from an area of the Cassiar Batholith near the historic Cassiar Moly deposit, and two additional samples from a previously unexplored portion of the batholith returned 321 ppm and 284 ppm molybdenum. GoldHaven said these results support continued evaluation of the project’s broader magmatic-hydrothermal system and its potential to host multiple styles of mineralization.

Rob Birmingham, President and CEO of GoldHaven, commented: “The discovery of a new high-grade tungsten occurrence returning 8,850 ppm tungsten is an exciting development for GoldHaven. Our 2026 exploration program continues to demonstrate that Magno’s mineral potential extends well beyond our existing drill targets. With additional tungsten and molybdenum occurrences now identified across previously underexplored areas, we see significant opportunities to continue expanding our exploration footprint.”

GoldHaven said it will evaluate the newly identified tungsten and molybdenum occurrences alongside existing geological, geochemical and geophysical datasets to prioritize future exploration, while remaining focused on advancing its established tungsten and silver-lead-zinc exploration targets at Magno. Samples were submitted to ALS Laboratories, with tungsten analyzed by lithium borate fusion with ICP-MS finish.

CONTINUED... Read this and more news for GoldHaven Resources at: https://equity-insider.com

In other industry developments and happenings in the market this week include:

Kennametal Inc. (NYSE: KMT) reported on November 4 that sales for its fiscal 2027 first quarter rose 54 percent to $768 million on both a reported and organic basis, with operating income of $379 million and record first quarter earnings per diluted share of $3.48. The company reiterated its full year fiscal 2027 sales outlook and raised its full year adjusted EPS outlook.

Kennametal also confirmed its commitment to a 16 to 19 percent adjusted EBITDA margin profile beyond fiscal 2027, an outlook it said assumes tungsten stays at current levels.

The Elmet Group Co. (NASDAQ: ELMT) reported on November 9 that revenue for its fiscal third quarter rose 55.6% to approximately $79.6 million from approximately $51.1 million a year earlier, while gross profit margin improved 960 basis points to 31.3%. Net income was approximately $8.3 million, or $0.24 per diluted share.

Elmet, a U.S.-based provider of critical materials, precision-engineered components and advanced high-power systems, said its open order backlog rose to a company record of approximately $347.4 million, up 164% from approximately $131.5 million at the end of the prior quarter, and highlighted a $450 million Department of War investment to secure its tungsten supply chain.

Fireweed Metals Corp. (OTCQX: FWEDF) announced on November 2 that it received final approval from the Toronto Stock Exchange to graduate from the TSX Venture Exchange, with its common shares set to begin trading on the TSX on November 5, 2026 under the symbol FWZ. The shares continue to trade on the OTCQX Best Market under FWEDF and on the Frankfurt Stock Exchange under M0G.

Fireweed is advancing the Mactung tungsten project on the Yukon and Northwest Territories border, where it launched a feasibility study in March 2026, alongside its Macpass zinc-lead-silver project in the Yukon.

Allied Critical Metals Inc. (OTCQB: ACMIF) announced on October 15 that its Borralha Tungsten Project in northern Portugal was the only tungsten mineral project included in the European Commission’s new selection of 46 Strategic Projects. The company said Strategic Project status provides access to streamlined permitting, with a maximum timeline of 27 months generally applicable to extraction projects under the EU Critical Raw Materials Act, and support in identifying public and private financing, though the designation does not guarantee funding.

Borralha’s mineral resource estimate includes 1.0 million tonnes Measured at 0.22% WO₃, 12.0 million tonnes Indicated at 0.21% WO₃ and 7.7 million tonnes Inferred at 0.18% WO₃.

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