Tungsten Mining
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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.
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H2 2026 earnings summary28 Sep, 2026

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.

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