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Perpetual Resources Limited (ASX:PEC)

ALERT: Price-sensitive ASX Announcement for PEC
Current share price for PEC : $0.014 -0.007 (-33.33%)+
Announcement
Release
17 Jun 2026 10:03AM
Price at Release
$0.021
Full Release
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Summary
Perpetual Resources Limited has announced the acquisition of the Nevada Scheelite Mine in Nevada, USA, marking its expansion into a high-grade tungsten asset. This acquisition grants Perpetual full ownership of four patented mining claims and existing mine infrastructure, significantly reducing capital requirements for development. The Nevada Scheelite Mine, known for its historical production of 328,747 short ton units at an average grade of 1.1% WO₃, represents a strategic entry into the tungsten market, especially as global demand for tungsten increases due to its critical role in defense, aerospace, and industrial applications. The acquisition aligns with Perpetual's critical minerals strategy, aiming to establish a JORC-compliant resource and leverage existing infrastructure to fast-track development.
Key Points
  • Perpetual Resources Ltd (ASX: PEC) has acquired a 100% interest in the Nevada Scheelite Mine, a high-grade tungsten mine in Nevada, USA.
  • The Nevada Scheelite Mine historically produced 328,747 short ton units of WO3 at an average grade of 1.1%.
  • The acquisition includes four patented mining claims, providing full ownership of mineral and surface rights.
  • The mine infrastructure includes a vertical shaft and extensive underground workings, reducing future capital needs.
  • Perpetual intends to develop a JORC-compliant resource and explore further opportunities within the tungsten market.
  • The global tungsten market is expected to grow due to strategic demand and supply constraints.
  • Significant historical drilling results support the high-grade potential of the site.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.