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Tungsten Mining NL (ASX:TGN)

ALERT: Price-sensitive ASX Announcement for TGN
Current share price for TGN : $0.210 -0.025 (-10.64%)+
Announcement
Release
24 Aug 2026 8:01AM
Price at Release
$0.235
Full Release
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Summary
On August 24, 2026, Tungsten Mining NL announced the appointment of Cutfield Freeman & Co as their debt advisor to aid in developing an optimized funding strategy for the Watershed Tungsten Project in Far North Queensland. This marks a significant milestone following the Watershed Preliminary Economic Evaluation, which demonstrated strong project economics with a pre-tax NPV of A$1.3 billion and a pre-tax IRR of 198%. The funding strategy will consider various sources, including strategic investments, government support, and commercial partnerships, alongside the debt options. The project's aim is to advance towards a Final Investment Decision by September 2026, with first production targeted for the first half of 2027.
Key Points
  • Appointment of Cutfield Freeman & Co as debt advisor.
  • Development of optimized funding strategy for Watershed Tungsten Project.
  • Preliminary Economic Evaluation showed a pre-tax NPV of A$1.3 billion.
  • Project targeting Final Investment Decision by September 2026.
  • First production aimed for the first half of 2027.
  • Funding strategy to include strategic investments, government support, and commercial partnerships.
  • Cutfield Freeman & Co has extensive global mining finance experience.
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.