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Tungsten Mining (TGN) investor relations material
Tungsten Mining H2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Advanced two cornerstone Australian tungsten projects: Watershed (speed) and Mt Mulgine (scale), strengthening financial position and expanding international presence.
Watershed Project advanced toward development with updated Mineral Resource Estimate and compelling Preliminary Economic Evaluation (PEE).
Mt Mulgine Project completed Scoping Study, commenced major drilling, and defined new exploration targets.
Raised significant capital, expanded US presence, and included in S&P/ASX All Ordinaries Index.
Financial highlights
Loss after tax for FY26: $19.08 million (FY25: $5.78 million), driven by $12.1 million exploration and $4.0 million remuneration expenses.
Cash position at 30 June 2026: $49.1 million (FY25: $2.5 million).
Raised $9.5 million in September 2025 and $53 million in January 2026 through share placements.
Additional $50 million capital raised post-year-end for Watershed development.
Outlook and guidance
Watershed targeting Final Investment Decision in September 2026 and first production by end of H1 2027.
Mt Mulgine advancing Pre-Feasibility Study and major drilling to define scale and development pathway.
Focus on execution, funding, and technical milestones for both projects in FY27.
- World-scale tungsten project targeting lowest global costs and first production by July 2029.TGN
Investor presentation - Watershed and Mt Mulgine projects advanced with strong economics and robust cash reserves.TGN
Q4 2026 TU - Production targeted for early 2027 with strong economics and non-dilutive funding focus.TGN
Status update - $53M raise boosts liquidity for Mt Mulgine and Watershed, with major drilling and U.S. listing plans.TGN
Q3 2026 TU - Loss increased on higher exploration spend; major project acquisitions drive future growth.TGN
H2 2025 - Net loss widened to $5.11 million as project development advanced and Hatches Creek was fully acquired.TGN
H2 2024 - Mt Mulgine advances with robust economics as tungsten prices soar and funding is secured.TGN
Q2 2026 TU - Loss narrowed, cash and equity rose, and $53M raised post-period for project advancement.TGN
H1 2026 - Tungsten and gold resource upgrades, 80% price surge, and $9.5M raise drive project momentum.TGN
Q1 2026 TU
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