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Tungsten Mining NL ( (AU:TGN) ) has shared an update.
Tungsten Mining NL has decided to discontinue activities on its Big Hill and Kilba Projects following a strategic review, surrendering the associated tenements. This move aligns with the company’s focus on its Mt Mulgine, Hatches Creek, and Watershed Projects, aiming to prioritize resources and strategic objectives. The decision involves writing off the carrying amount of $1.159 million for these projects, impacting the company’s mineral resource estimates.
More about Tungsten Mining NL
Tungsten Mining NL is an Australian resources company focused on the exploration and development of tungsten projects. The company is listed on the Australian Securities Exchange and aims to become a major player in the global tungsten market through the development of low-cost tungsten concentrate production. Tungsten is a metal of strategic importance, used in various industries such as aerospace, defense, electronics, and automotive.
Average Trading Volume: 224,940
Technical Sentiment Signal: Buy
Current Market Cap: A$71.88M
Learn more about TGN stock on TipRanks’ Stock Analysis page.