Tungsten Corporation Plc provided earnings guidance for the full year ended April 30, 2016 and six months ending October 31, 2017. The company expects revenues for the full year to 30 April 2016 are expected to be broadly in line with its previous guidance. The Company continues to expect EBITDA loss for the full year to 30 April 2016, excluding one-off items, of no more than £15 million (£19 million including one-off items) and free cash at the year-end of at least £8 million, with the monthly cash outflow continuing to improve.

The Board is confident that Tungsten is on track to achieve break-even on an EBITDA basis by the end of fiscal 2017 and a positive EBITDA for the six-months ending 31 October 2017.