Australian critical minerals developer Tungsten Mining (ASX:TGN) has finalised a major capital injection, confirming the completion of a $53 million share placement.
The company said all funds have been received and shares issued to a robust mix of leading Australian and international institutional and professional investors.
The placement saw significant demand, finishing heavily oversubscribed and reflecting strong market confidence in the company’s strategic direction.
The substantial capital raise shifts Tungsten Mining into a powerhouse financial position, providing the "green light" to accelerate development across its primary assets.
Funds will support intensive study activities and exploration programs designed to expand the current mineral resource estimate of the Mt Mulgine Project.
The company aims to fast-track this fully permitted project, with an economic evaluation study scheduled for release in Q2 2026.
Beyond project-specific studies, the capital will be utilised for general working capital and costs associated with the raising.
At the time of reporting, Tungsten Mining's share price was $0.26.