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