Tungsten Mining Completes Major Share Placement and Issues Cleansing Notice

The latest update is out from Tungsten Mining NL ( (AU:TGN) ).

Tungsten Mining NL has issued 278,947,369 fully paid ordinary shares to institutional, sophisticated and professional investors, completing a previously announced share placement. The company confirmed the shares were issued without a prospectus under Australian Corporations Act provisions, and stated it is compliant with its financial reporting and continuous disclosure obligations, with no undisclosed excluded information identified by the board.

This cleansing notice, authorised by the board of directors, is intended to ensure the new shares can trade freely on the ASX without further disclosure. The completion of the placement strengthens Tungsten Mining’s capital position as it advances its tungsten project portfolio, supporting its strategy to grow as a significant participant in the global tungsten market.

The most recent analyst rating on (AU:TGN) stock is a Hold with a A$0.26 price target. To see the full list of analyst forecasts on Tungsten Mining NL stock, see the AU:TGN Stock Forecast page.

More about Tungsten Mining NL

Tungsten Mining NL is an Australian-based resources company focused on the exploration and development of tungsten projects across Australia. Listed on the ASX, it has built a globally significant tungsten resource inventory and aims to become a major supplier of low-cost tungsten concentrate to the global primary tungsten market.

Average Trading Volume: 2,272,490

Technical Sentiment Signal: Buy

Current Market Cap: A$296.1M

See more data about TGN stock on TipRanks’ Stock Analysis page.