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Tungsten Mining NL
(Sydney:TGN)
Tungsten Mining NL (TGN) vs. iShares MSCI Australia ETF (EWA)
Tungsten Mining NL Business Overview & Revenue Model
Tungsten Mining NL Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 106.62K | 106.62K | 4.23K | 0.00 | 20.79K | 143.47K |
| Gross Profit | -376.75K | 106.62K | -992.79K | -433.42K | -267.75K | -133.81K |
| EBITDA | -5.53M | -5.53M | -4.74M | -3.28M | -5.22M | -4.85M |
| Net Income | -7.82M | -7.82M | -5.11M | -2.93M | -5.09M | -4.72M |
Balance Sheet | ||||||
| Total Assets | 42.90M | 42.90M | 29.85M | 35.06M | 36.99M | 42.87M |
| Cash, Cash Equivalents and Short-Term Investments | 2.74M | 2.74M | 8.31M | 12.64M | 14.88M | 19.59M |
| Total Debt | 4.56M | 4.56M | 641.11K | 822.26K | 412.15K | 656.34K |
| Total Liabilities | 14.33M | 14.33M | 2.48M | 2.58M | 1.56M | 2.36M |
| Stockholders Equity | 28.56M | 28.56M | 27.38M | 32.49M | 35.42M | 40.51M |
Cash Flow | ||||||
| Free Cash Flow | -9.35M | -9.35M | -4.06M | -1.93M | -4.74M | -4.21M |
| Operating Cash Flow | -5.53M | -5.53M | -4.02M | -1.91M | -4.60M | -4.14M |
| Investing Cash Flow | -3.81M | -3.81M | -42.48K | -15.47K | 444.78K | 59.39K |
| Financing Cash Flow | 3.80M | 3.80M | -268.21K | -303.85K | -292.43K | 468.11K |
Tungsten Mining NL Technical Analysis
Tungsten Mining NL Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
50 Neutral | AU$368.74M | -37.10 | -27.95% | ― | ― | -43.08% | |
48 Neutral | AU$83.73M | 162.00 | 0.85% | ― | -16.97% | -94.15% | |
48 Neutral | AU$101.00M | -14.23 | -10.46% | ― | -85.84% | 73.66% | |
48 Neutral | AU$81.41M | -4.59 | -103.22% | ― | ― | -278.88% | |
45 Neutral | AU$80.38M | -14.79 | ― | ― | ― | 54.26% | |
45 Neutral | AU$110.93M | -0.43 | -116.31% | ― | ― | -414.88% |
Tungsten Mining NL Corporate Events
Tungsten Mining NL reported a highly active December 2025 quarter, underpinned by a sharp rise in ammonium paratungstate (APT) prices of about 300% over 12 months, driven by Chinese export restrictions and tightening global supply. The company completed an integrated scoping study for its Mt Mulgine Project, indicating a robust, long-life, multi-commodity development with attractive economics, including a pre-tax NPV of A$1.0–1.4 billion and an IRR of 30–45%, and immediately moved into a pre-feasibility study. A new exploration target at Mulgine Trench, additional to existing resources, suggests the potential to elevate the project to one of the largest contained tungsten assets in the Western world, while a new gold mineral resource estimate of 67,500 ounces further supports the overall development strategy. Tungsten Mining is also evaluating early production options at its Hatches Creek and Watershed projects, strengthened its board and technical team in metallurgy, project management and ESG, completed a heavily oversubscribed A$53 million placement, and secured an OTCQB listing following a U.S. investor roadshow, collectively bolstering its financial and strategic position amid a structurally tightening tungsten market.
The most recent analyst rating on (AU:TGN) stock is a Hold with a A$0.31 price target. To see the full list of analyst forecasts on Tungsten Mining NL stock, see the AU:TGN Stock Forecast page.
Tungsten Mining NL has announced a proposed placement of up to 278,947,369 fully paid ordinary shares, with an intended issue date of 9 February 2026. The substantial equity raising signals a move to bolster the company’s capital base, which could support future project development or strengthen its balance sheet, and may lead to shareholding dilution for existing investors depending on final pricing and allocation.
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.
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.
Tungsten Mining NL has requested a trading halt in its securities on the ASX while it holds discussions over a potential capital raising, seeking to manage the process in an orderly fashion and ensure trading occurs on a fully informed basis. The halt will remain in place until either the start of trading on 28 January 2026 or the release of a capital-raising announcement, with the company stating it is not aware of any other undisclosed material information, a move that signals possible near-term funding and balance-sheet implications for investors and stakeholders.
The most recent analyst rating on (AU:TGN) stock is a Hold with a A$0.21 price target. To see the full list of analyst forecasts on Tungsten Mining NL stock, see the AU:TGN Stock Forecast page.
Tungsten Mining NL has released an update on its Mt Mulgine Project in Western Australia, describing it as a globally significant multi-critical mineral deposit and outlining outcomes from a preliminary Scoping Study. The company stresses that the study is an early-stage technical and economic assessment that supports the potential viability of the project but is not yet sufficient to define Ore Reserves or underpin a definitive development decision. The Scoping Study mine plan is based entirely on Indicated Mineral Resources, with no contribution from Inferred Resources or exploration targets, and envisages pre‑production funding requirements in the range of A$358 million to A$495 million for the preferred development case. Tungsten Mining underscores that there is no certainty it will secure this funding or achieve the projected outcomes, and notes that alternative strategies such as asset sales or joint ventures may be considered, highlighting both the scale of Mt Mulgine’s opportunity and the financing and execution risks facing investors and stakeholders.
The most recent analyst rating on (AU:TGN) stock is a Hold with a A$0.18 price target. To see the full list of analyst forecasts on Tungsten Mining NL stock, see the AU:TGN Stock Forecast page.
Tungsten Mining NL has announced changes in the interests of several directors, lodging multiple Appendix 3Y notices in line with ASX Listing Rule 3.19A. The filings detail updated holdings for directors including chairman Gary Lyons, whose interests now include an additional 4.8 million performance rights issued for nil consideration, reflecting adjustments to the board’s equity-based incentives and signalling ongoing alignment of director remuneration with the company’s performance.
The most recent analyst rating on (AU:TGN) stock is a Hold with a A$0.23 price target. To see the full list of analyst forecasts on Tungsten Mining NL stock, see the AU:TGN Stock Forecast page.
Tungsten Mining NL has notified the market of the issue of 25.4 million unquoted performance rights under its employee incentive scheme, with the new securities not intended to be quoted on the ASX. The substantial grant of performance rights is designed to align staff and executive incentives with shareholder value creation and may have implications for future dilution, while supporting the company’s efforts to retain and motivate key personnel in a competitive resources sector.
The most recent analyst rating on (AU:TGN) stock is a Hold with a A$0.23 price target. To see the full list of analyst forecasts on Tungsten Mining NL stock, see the AU:TGN Stock Forecast page.
Tungsten Mining NL has announced the quotation of 76,363,636 ordinary fully paid securities on the Australian Securities Exchange (ASX) as of December 9, 2025. This move is part of the company’s strategic efforts to enhance its financial position and support its operational growth, potentially impacting its market presence and stakeholder interests positively.
The most recent analyst rating on (AU:TGN) stock is a Hold with a A$0.23 price target. To see the full list of analyst forecasts on Tungsten Mining NL stock, see the AU:TGN Stock Forecast page.
Tungsten Mining NL has announced a new Exploration Target at the Mulgine Trench deposit, highlighting the global scale of its Mt Mulgine project. The target, which is additional to the 2020 mineral resource estimate, underscores the project’s potential to extend mine life and increase scale, reinforcing its strategic importance in the supply-constrained tungsten market. The company plans supplementary drilling to further assess the mineralisation, aiming to complete a Pre-Feasibility Study by mid-2026, which could enhance its positioning in the critical minerals sector.
The most recent analyst rating on (AU:TGN) stock is a Hold with a A$0.18 price target. To see the full list of analyst forecasts on Tungsten Mining NL stock, see the AU:TGN Stock Forecast page.
Tungsten Mining NL announced that all resolutions presented at its Annual General Meeting were approved by the necessary majority. This includes the re-election of directors, approval of a 10% placement facility, and ratification of previous placements and notes, reflecting strong shareholder support and potentially enhancing the company’s operational flexibility and strategic positioning.
The most recent analyst rating on (AU:TGN) stock is a Hold with a A$0.18 price target. To see the full list of analyst forecasts on Tungsten Mining NL stock, see the AU:TGN Stock Forecast page.
Tungsten Mining NL has released supplementary financial information for its Mt Mulgine Scoping Study, which underscores the project’s global significance and robust economics. The additional details, driven by stakeholder interest, include projected cashflow and a revised payback period, reinforcing the project’s potential and supporting the commencement of a Pre-Feasibility Study.
Tungsten Mining NL announced an investor webinar to present the results of the Mt Mulgine Scoping Study, which outlines the development pathway for this critical minerals project. The webinar will cover project scale, production metrics, indicative economics, and next-phase work programs, providing stakeholders with insights into the company’s strategic positioning and potential impacts on its operations.
Tungsten Mining NL has released a scoping study for its Mt Mulgine Project in Western Australia, highlighting its potential as a globally significant critical minerals project. The study indicates the project’s viability, but further exploration and funding are needed to confirm economic development. The company faces uncertainties in securing the required pre-production funding, which could impact the project’s progression and shareholder value.
Tungsten Mining NL has announced the results of the Scoping Study for its Mt Mulgine Project, which highlights the project’s global significance as a potential long-term, low-cost producer of tungsten and molybdenum. The study supports an accelerated approach to production and provides a foundation for a Pre-Feasibility Study. The project is positioned to benefit from record high tungsten prices, with a large mineral resource base and potential for expansion. The company plans to complete the Pre-Feasibility Study by Q2 2026, followed by a Definitive Feasibility Study in H2 2027.
Tungsten Mining NL has updated its strategy for the Mt Mulgine project by identifying new gold exploration targets at the Mulgine Trench, Allentown, and Monza prospects. These new targets are expected to enhance the company’s tungsten development pathway and contribute to the upcoming scoping study. The announcement highlights the potential for significant gold mineralization, which could add value to the company’s operations and strengthen its position in the mining industry.