Claim 70% Off TipRanks This Holiday Season
- Unlock hedge-fund level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Viking Mines Limited ( (AU:VKA) ) has issued an announcement.
Viking Mines has agreed to acquire 100% of six past-producing tungsten projects in Nevada, USA, which together have a historic production record of about 123,000 tonnes of ore at 0.54% WO₃ and include high-grade drill targets of up to 2.11% WO₃ ready for immediate follow-up. The transaction is strategically supported by a A$750,000 cornerstone investment from American Tungsten and comes as tungsten prices hit all-time highs amid critical defence demand and Chinese export restrictions, potentially strengthening Viking’s position in the critical minerals supply chain and enhancing its growth prospects in a key US jurisdiction.
More about Viking Mines Limited
Viking Mines Limited is an ASX-listed resources company expanding into critical minerals through the acquisition of tungsten assets in the United States. The company is targeting high-grade, past-producing tungsten projects in Nevada, a Tier-1 mining jurisdiction, positioning itself to benefit from strong defence-related demand and geopolitical constraints on supply, particularly from China.
Average Trading Volume: 25,222,725
Technical Sentiment Signal: Sell
Current Market Cap: A$12.24M
For a thorough assessment of VKA stock, go to TipRanks’ Stock Analysis page.