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Tungsten Mining NL ( (AU:TGN) ) just unveiled an announcement.
Tungsten Mining NL has raised A$53 million through a heavily oversubscribed share placement to institutional, sophisticated and professional investors at A$0.19 per share, a discount to its last close but in line with its recent trading average. The fresh capital will primarily fund further study work and resource expansion drilling at the Mt Mulgine Project, as well as additional studies aimed at accelerating development of the Watershed Project, leaving the company with a significantly strengthened balance sheet to advance its critical mineral asset base in a supportive commodity price environment.
The most recent analyst rating on (AU:TGN) stock is a Hold with a A$0.22 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 advancing a portfolio of tungsten and associated base and precious metal projects, including tungsten, copper, gold, silver and molybdenum assets. The company’s key projects include the Mt Mulgine Project and the works-approved Watershed Project, positioning it within the global supply chain for strategically important industrial and critical minerals.
Average Trading Volume: 1,554,623
Technical Sentiment Signal: Buy
Current Market Cap: A$251.4M
See more insights into TGN stock on TipRanks’ Stock Analysis page.