Blue Moon, Elmet, EQ Sign $150M Deal to Revive US Tungsten Mine
Toronto – September 17, 2026 -- Blue Moon Metals Inc. (TSXV: MOON; NASDAQ: BMM), The Elmet Group Co. (NASDAQ: ELMT) and EQ Resources Limited (ASX: EQR) signed a binding letter agreement on September 11, 2026 to jointly redevelop Blue Moon's Springer Tungsten Complex in Imlay, Nevada, backed by a US$150 million investment from Elmet.
Elmet commits $150 million as part of a $450 million U.S. Department of War investment
The U.S. Department of War announced a US$450 million investment into Elmet the same day, designating US$150 million of proceeds for the Springer transactions. An additional US$25 million standby fund from Elmet and EQ Resources is earmarked for restarting the APT plant if required.