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Demesne Resources Ltd. ( (TSE:TUNG) ) just unveiled an update.
American Tungsten Corp. has successfully completed the first tranche of its non-brokered private placement, raising C$16.8 million through the sale of common shares. The proceeds will be used to advance the Ima Mine Project in Idaho, including development activities, additional drilling, and technical studies. This capital injection demonstrates strong investor confidence in the company’s strategy, despite challenging market conditions, and supports its commitment to value creation and fiduciary responsibility.
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 project is a historic underground tungsten past-producing property with significant infrastructure, and the company holds an exclusive option to acquire full ownership, subject to a 2% royalty.
Average Trading Volume: 425,134
Technical Sentiment Signal: Buy
Current Market Cap: C$104.4M
For detailed information about TUNG stock, go to TipRanks’ Stock Analysis page.