The Conversation (2)
Tungsten Mining NL (ASX:TGN) has raised $1.92 million before costs via a private placement of 48 million shares.
Tungsten Mining NL (ASX:TGN) has raised $1.92 million before costs via a private placement of 48 million shares.
As quoted in the press release:
The Placement was undertaken to fund working capital and the Company’s project development activities following the recent settlement of the acquisition of the Mt Mulgine and Big Hill tungsten projects from Hazelwood Resources Limited (refer TGN announcements dated 15 December 2015).
Tungsten Mining CEO, Craig Ferrier, said:
[T]he investor support for the placement is a strong endorsement of the Company’s stated strategy of building a tungsten business of scale. TGN starts the new year with considerable momentum and confidence. The board welcomes the new investors to our register.