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Guardian Metal Resources is transitioning from explorer to U.S. tungsten developer, anchored by the Pilot Mountain project and near-term potential at Tempiute. Pilot Mountain's PFS shows robust economics: a $660.3M after-tax NPV8, 59.6% IRR at conservative tungsten prices, with government backing highlighting strategic significance. Tempiute offers early-stage processing and supply chain validation, potentially accelerating customer relationships and de-risking Pilot Mountain's eventual commercialization.