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Tungsten Mining NL (ASX:TGN)

ALERT: Price-sensitive ASX Announcement for TGN
Current share price for TGN : $0.200 -0.01 (-4.76%)+
Announcement
Release
30 Jul 2026 8:23AM
Price at Release
$0.210
Full Release
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Summary
Tungsten Mining NL's Quarterly Activities Report for the period ending 30th June 2026 highlights significant advancements in their development strategy. The Watershed Preliminary Economic Evaluation was completed, indicating robust financial metrics with a pre-tax NPV of A$1.31 billion. The company saw an 8% increase in contained tungsten at the Watershed project, with first production expected by mid-2027. Major drilling campaigns commenced at Mt Mulgine to expand resources. US market preparations were bolstered with the appointment of a new auditor as the company eyes a Nasdaq listing. The quarter ended with strong cash reserves of A$49.1 million, ensuring financial stability for ongoing projects.
Key Points
  • Completion of Watershed Preliminary Economic Evaluation with a pre-tax NPV of A$1.31 billion and pre-tax IRR of 198%
  • Watershed Mineral Resource increased to 69.7Mt at 0.109% WO3
  • First Watershed production targeted by the end of H1 2027
  • Largest drilling campaign commenced at Mt Mulgine with 130 RC holes and 37 PQ diamond holes
  • US capital-markets preparations advanced with appointment of Grant Thornton as auditor
  • Company closed the quarter with A$49.1 million in cash
  • Change of auditor to support Nasdaq listing intentions
  • No mining development or production activities conducted during the quarter
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.