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The latest update is out from Viking Mines Limited ( (AU:VKA) ).
Viking Mines has entered a binding agreement to acquire six high-grade, historically producing tungsten projects in Nevada in a low-cost, staged deal totalling US$2.88 million over seven years, supported by a strategic $750,000 investment and technical partnership from American Tungsten. The move gives Viking leveraged exposure to a US-designated critical mineral amid record tungsten prices and China-dominated supply, while the company also reports expanding nugget discoveries at its Riverina East gold project and a strengthened cash position of up to about $5.47 million including a recent placement to fund exploration and development across both its US tungsten and Australian gold portfolios.
The most recent analyst rating on (AU:VKA) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Viking Mines Limited stock, see the AU:VKA Stock Forecast page.
More about Viking Mines Limited
Viking Mines Limited is an ASX-listed mineral exploration company focused on critical minerals and gold, with key projects in Nevada, USA, and Western Australia. The company is expanding into the US tungsten sector, targeting high-grade, production-proven assets in a tier-1 jurisdiction while continuing to explore gold opportunities along the Zuleika Shear Zone near established mining camps in WA.
YTD Price Performance: 20.0%
Average Trading Volume: 40,730,509
Technical Sentiment Signal: Buy
Current Market Cap: A$23.8M
Learn more about VKA stock on TipRanks’ Stock Analysis page.