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An announcement from Tungsten Mining NL ( (AU:TGN) ) is now available.
Tungsten Mining NL has completed a heavily oversubscribed $53 million share placement to leading Australian and international institutional and professional investors, as well as existing shareholders. The raising, priced at A$0.19 per share and structured within the company’s ASX placement capacities, leaves the balance sheet significantly strengthened for near-term project work.
The company plans to deploy most of the proceeds into advancing study and exploration activities at its Mt Mulgine and Watershed projects, including efforts to expand Mt Mulgine’s globally significant resource and to assess options to accelerate the fully permitted Watershed asset. With pre-feasibility and economic evaluation studies due in 2026, the capital injection underpins Tungsten Mining’s pathway toward a potential final investment decision targeted for late 2027, reinforcing its strategic positioning in the critical minerals sector.
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 critical minerals developer focused on tungsten and associated critical minerals, with shares listed on the ASX and OTCQB. The company’s primary assets include the Mt Mulgine and fully permitted Watershed projects, positioning it within the global supply chain for strategically important industrial and technology metals.
Average Trading Volume: 2,272,490
Technical Sentiment Signal: Buy
Current Market Cap: A$296.1M
Learn more about TGN stock on TipRanks’ Stock Analysis page.