Tungsten Mining NL (AU:TGN) has released an update.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Tungsten Mining NL has announced a capital raising of $4.5 million through the issuance of unsecured, unquoted convertible notes to professional and sophisticated investors. This move aims to bolster the company’s cash reserves and enhance its financial position, enabling it to strategically acquire all remaining assets of the Hatches Creek Tungsten Project. The issuance allows future conversion of notes into shares, potentially altering the company’s capital structure.
For further insights into AU:TGN stock, check out TipRanks’ Stock Analysis page.