How Will Tungsten Minings AU$53 Million Placement Drive Project Advancement?

Source: Kapitales Research

Highlights:

• Tungsten Mining Limited (ASX: TGN) has completed a AU$53 million placement, strengthening the company’s position to accelerate its Mt Mulgine and Watershed Projects.
• The capital raised through the placement will fund exploration activities, project evaluation studies, and other essential project advancements.
• The placement received strong support, being oversubscribed by both domestic and international institutional investors, alongside existing shareholders.

Placement and Investor Support

Tungsten Mining Limited (ASX: TGN) has successfully raised AU$53 million through the issuance of 278,947,369 new shares at an issue price of AU$0.19 per share. The placement was heavily oversubscribed, reflecting strong investor confidence in the company’s projects and growth strategy. Tungsten Mining is now in a much stronger financial position, allowing it to fast-track development on the Mt Mulgine and Watershed Projects.

The AU$53 million capital raise represents a 15.6% discount to the last closing price of AU$0.225 on 22 January 2026. A portion of the funds will be allocated to the continued evaluation of the Mt Mulgine and Watershed Projects, as well as supporting general working capital requirements.

Focus on Project Advancement

The proceeds from the capital raising will be directed primarily toward advancing Mt Mulgine Project study activities, including exploration programs designed to expand the project’s globally significant Mineral Resource Estimate. This will be followed by additional studies aimed at unlocking and fast-tracking the fully permitted Watershed Project.

At the time of writing, the Mt Mulgine Pre-Feasibility Study and the Watershed Project Economic Evaluation Study are advancing smoothly, with results from both studies expected in Q3 2026 and Q2 2026, respectively.

Strategic Importance of the Placement

Tungsten Mining’s Chairman, Gary Lyons, commented that the overwhelming support for the placement is a strong endorsement of the company’s strategy, project portfolio, and the growing importance of tungsten and related critical minerals. The placement strengthens the company’s balance sheet, positioning it to meet its Financial Investment Decision milestone for both projects in Q4 2027.

Outlook

With AU$53 million secured, Tungsten Mining is now better positioned to advance Mt Mulgine and Watershed Projects through their next stages. The funds will help the company move closer to its production targets and meet key development milestones over the next several years. Investors will be closely watching the progress of the Pre-Feasibility Study for Mt Mulgine and the economic evaluation for Watershed, both of which are expected to be critical for the company’s long-term growth.

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