Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Demesne Resources Ltd. ( (TSE:TUNG) ) has provided an announcement.
American Tungsten Corp. has arranged a C$20.0 million bought deal private placement led by Stifel Canada, under which underwriters will purchase 7.15 million units at C$2.80 each, with each unit comprising one common share and half a warrant exercisable at C$3.75 for 36 months. The deal includes an option to sell up to 15% more units and is expected to close around March 18, 2026, subject to regulatory approvals and a four-month hold period on the issued securities.
Proceeds from the financing will be used to advance exploration and development at the company’s IMA Mine Project in Idaho and for general working capital and corporate purposes. By strengthening its balance sheet and funding progress toward commercial production at a key North American tungsten asset, the company is positioning itself to address regional critical metal supply needs and potentially enhance its standing in the critical minerals sector.
More about Demesne Resources Ltd.
American Tungsten Corp. is a Canadian mineral exploration company focused on high-potential tungsten and magnetite assets in North America. Its flagship IMA Mine Project in Idaho is a historic, high-quality underground tungsten past-producing property on private-patented land with existing infrastructure, where the company holds an exclusive option to acquire full ownership, subject to a royalty, and has expanded the land package with additional federal claims.
Average Trading Volume: 311,364
Technical Sentiment Signal: Buy
Current Market Cap: C$150.1M
For detailed information about TUNG stock, go to TipRanks’ Stock Analysis page.