Tungsten Mining accelerates Mt Mulgine and Watershed push after $53m raise

Tungsten Mining NL ( (AU:TGN) ) has provided an update.

Tungsten Mining NL reported a strong March quarter marked by a $53 million equity placement, which has left the company with nearly $54 million in cash and funded an accelerated work program at its Mt Mulgine and Watershed tungsten projects. Management also expanded technical and commercial teams and secured inclusion in the S&P/ASX All Ordinaries Index, enhancing its market visibility among Australian investors.

Operationally, the company advanced development and exploration across its portfolio, launching an economic evaluation of the fully permitted Watershed project and scheduling new drilling campaigns at both Watershed and Mt Mulgine’s Mulgine Trench target to grow resources and refine high-grade, near-surface mineralisation. Strategically, Tungsten Mining is pursuing a secondary U.S. stock market listing and deepening international engagement, including offtake and downstream processing discussions in Vietnam and the U.S., positioning itself to benefit from rising tungsten prices and heightened government focus on critical mineral supply security.

More about Tungsten Mining NL

Tungsten Mining NL is an Australian resources company focused on the exploration and development of tungsten assets, including the Mt Mulgine project in Western Australia and the Watershed project in Queensland. The company is targeting participation in global critical minerals supply chains, with a particular emphasis on supplying tungsten to industrial markets and aligning with U.S. efforts to secure strategic mineral supply.

Average Trading Volume: 3,317,657

Technical Sentiment Signal: Buy

Current Market Cap: A$370M

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