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The latest update is out from Demesne Resources Ltd. ( (TSE:TUNG) ).
American Tungsten Corp. has announced a repricing of its non-brokered private placement under the LIFE Offering to $2.58 per share due to market volatility. The offering remains upsized to $20 million with no warrants, and cash-only finders’ fees up to 6.0%. The company aims to use the proceeds for its exploration program at the IMA Mine, fast-tracking technical studies, and additional working capital. This move reflects the company’s commitment to capital discipline and long-term value creation, with a focus on becoming a key tungsten producer in the United States.
More about Demesne Resources Ltd.
American Tungsten Corp. is a Canadian exploration company focused on high-potential tungsten and magnetite assets in North America. The company is advancing the Ima Mine Project in Idaho to commercial production, addressing critical metal scarcity in North America. The Ima Mine Project is a historic and high-quality underground tungsten past-producing property on private-patented land with significant infrastructure. The company holds an exclusive option to acquire full ownership, subject to a 2% royalty, and has expanded its land position with 113 additional federal claims covering nearly 2,000 acres.
Average Trading Volume: 406,376
Technical Sentiment Signal: Buy
Current Market Cap: C$112.4M
See more insights into TUNG stock on TipRanks’ Stock Analysis page.