Featured in the Australian Critical Minerals Prospectus, Tungsten Mining has strengthened its balance sheet with a $53 million placement, giving the company a clear runway to advance its tungsten and molybdenum projects.

The funds will be used to accelerate work on the Mt Mulgine and Watershed projects, two of Australia’s strategically significant critical mineral assets.

At Mt Mulgine, the focus will be on expanding the existing mineral resources, while at Watershed, studies will explore ways to fast-track a fully permitted project. The capital will also support ongoing project evaluation and general working capital, giving the company a stronger financial position to drive growth.

“The significant support received for our capital raising, we believe is an endorsement of Tungsten Mining’s strategy, the quality of our project portfolio, and the growing importance of tungsten and associated critical minerals across the global economy,” Tungsten Mining chair Gary Lyons said.

“With a significantly strengthened balance sheet, the company is now well positioned to progress through the Mt Mulgine and Watershed study programs towards its financial investment decision milestone in fourth quarter of 2027,” he said.

As detailed in the Australian Critical Minerals Prospectus, Tungsten Mining is positioning itself as a key Australian producer of critical minerals, with projects that could supply globally important tungsten and molybdenum.

The company is now ready to advance its studies, laying the groundwork for the next phase of development and further establishing its role in the nation’s critical minerals landscape.

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