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Tungsten Mining NL (ASX:TGN)

ALERT: Price-sensitive ASX Announcement for TGN
Current share price for TGN : $0.200 -0.015 (-6.98%)+
Announcement
Release
22 Jun 2026 8:16AM
Price at Release
$0.215
Full Release
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Summary
Tungsten Mining NL's Watershed Project PEE presentation outlines a high-margin tungsten project with compelling economics and a strong pre-tax NPV of A$1.3 billion. With secured primary approvals and anticipated first production in 2027, the project is geared towards capitalizing on high tungsten prices. It aims for a capital expenditure of A$274 million and targets to optimize operating costs, currently at A$594/MTU, while exploring multiple non-dilutive funding pathways to limit shareholder dilution. The project's strategic location near Cairns facilitates a significant WO3 resource base, positioning it for rapid development and production.
Key Points
  • Tungsten Mining NL presented a Preliminary Economic Evaluation (PEE) for the Watershed Project.
  • The project demonstrates strong economic and technical fundamentals, amidst a tightening global tungsten supply.
  • Primary approvals for the project are secured, and the final investment decision is targeted for September 2026.
  • First production is expected by 2027.
  • The project has a pre-tax NPV of A$1.3 billion and a pre-tax IRR of 198%, with a payback period of 9 months.
  • Total capital expenditure is estimated at A$274 million.
  • The project's life span is projected to be 15 years, with a total production of approximately 31,000 tonnes of WO3.
  • Operating costs (OPEX) are currently A$594/MTU, with optimization targets of reducing this to A$499/MTU.
  • Various non-dilutive funding options are being explored to minimize shareholder dilution.
  • The project is located 130km northwest of Cairns, and has a total measured, indicated, and inferred resource of 69.7 Mt at 0.11% WO3.
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.