Blue Moon Metals Closes Previously Announced Acquisition of the Springer Tungsten and Critical Metals Mine and Processing Plant Located in Nevada in Line with Recent Initiatives Under Section 232 of the Trade Expansion Act
Strategic shift to critical metals hub-and-spoke model finalized with Springer Mine acquisition closing
On February 10, 2026, Blue Moon Metals (MOON) announced the closing of the acquisition of the Springer Tungsten and Critical Metals Mine and processing plant in Nevada from GOODS LG LLC. The final cash payment was US$18 million (following a US$500,000 deposit). Management highlighted that tungsten prices have more than doubled since the MOU was signed in October 2025. Simultaneously, the company provided an operational update on its flagship Blue Moon project in California, noting that the exploration decline has advanced 128 meters toward a Phase 1 goal of 762 meters. The company also confirmed a one-year European outreach program with SRC Swiss Resources Capital AG.
- Strategic Hub-and-Spoke Model: The acquisition is material as it transforms the company from a single-asset exploration play into a potential regional processor. The Springer Mill (1,200 tpd) is intended to treat ore from the Blue Moon Mine (California) and other potential high-grade acquisitions in the Western US.
- Commodity Upside: The doubling of tungsten prices significantly improves the economics of redeveloping the historical Springer tungsten-molybdenum resources, which was a secondary focus at the time of the MOU.
- Operational Derisking: Advancing the Blue Moon decline and completing the first underground drill hole (379 meters) indicates the company is successfully transitioning from surface exploration to underground development.
- Liquidity and Listing: The recent Nasdaq listing (January 2026) and backing from institutional heavyweights (Oaktree/Hartree) provide the company with superior access to capital compared to its previous OTC-only status.
Blue Moon Metals is focused on critical minerals (Zinc, Copper, Tungsten) across the US and Norway. - Flagship Project: The Blue Moon VMS deposit (California). A high-grade polymetallic project (Zn, Au, Ag, Cu) with a 2025 PEA showing an after-tax IRR of 38-48%. - Springer Project (Nevada): Newly acquired tungsten/molybdenum mine with a 1,200 tpd mill planned to be the center of a US critical metals hub. - Nussir & NSG Projects (Norway): Permitted copper-gold-silver projects currently undergoing underground development and feasibility updates.