Australia's Tungsten Mining faces worst day in 13 months on discounted placement

Tungsten Mining NL

30/09/2025 03:56

** Shares of Australia's Tungsten Mining TGN.AX fall as much as 17.9% to A$0.078, posting their biggest intraday percentage drop since August 26, 2024

** Stock down 14.74% at A$0.081, as of 0244 GMT

** Tungsten explorer receives firm commitment to raise A$9.5 million ($6.25 million) via single-tranche placement

** Issue price of A$0.067 per share represents a discount of 29.5% to stock's last close

** Co says funds will be used for advancement of its Mt Mulgine project in Western Australia

** Stock hits its lowest level since September 15

** About 1.1 mln shares change hands, 3.8x the 30-day average

** YTD, stock down 13.9%, including current session's move

($1 = 1.5202 Australian dollars)

 (Reporting by Ananya Verma in Bengaluru)

 ((ananya.verma@thomsonreuters.com;))