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Tungsten Mining NL (ASX:TGN)

ALERT: Price-sensitive ASX Announcement for TGN
Current share price for TGN : $0.240 0.14 (140%)+
Announcement
Release
29 Oct 2025 7:42PM
Price at Release
$0.100
Full Release
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Summary
Tungsten Mining NL released its Quarterly Activities Report and Appendix 5B Cash Flow Report for the quarter ending 30 September 2025. The company reported a net cash outflow from operating activities of $1.358 million, with cash and cash equivalents standing at $1.115 million by the quarter's end. Tungsten prices saw a significant increase due to US defense spending and Chinese export restrictions, reinforcing the strategic importance of Tungsten Mining's projects. The company raised $9.5 million via a share placement and commenced the process for listing on the US OTCQB market. The Mt Mulgine Project development continued with focus on an integrated gold-tungsten opportunity to offset pre-strip costs. A Mineral Resource Estimate was announced, strengthening the long-term tungsten development strategy, and a scoping study was initiated to evaluate a gold-focused start-up operation. Corporate activities included stakeholder engagement for project approvals and strategic planning to ensure sustainable long-term operations.
Key Points
  • Net cash outflow from operating activities: $1.358 million.
  • Cash and cash equivalents at end of period: $1.115 million.
  • Tungsten prices increased due to US defense spending and Chinese export restrictions.
  • $9.5 million raised via share placement.
  • US OTCQB market listing process commenced.
  • Mt Mulgine Project development focused on gold-tungsten integration.
  • Mineral Resource Estimate released for Mt Mulgine Project.
  • Scoping study initiated for gold-focused start-up operation.
  • Corporate activities included stakeholder engagement and project approvals.
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.