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Demesne Resources Ltd. ( (TSE:TUNG) ) has provided an update.
American Tungsten Corp. announced a $10 million non-brokered LIFE private placement to issue up to 2,857,142.86 common shares at $3.50 per share. The proceeds will be used to expand exploration at the IMA Mine, fast-track technical studies, and provide additional working capital, reinforcing the company’s commitment to becoming a leading U.S. tungsten supplier. This financing reflects strong institutional demand for critical metals and positions American Tungsten strategically within the domestic supply chain.
More about Demesne Resources Ltd.
American Tungsten Corp. is a Canadian exploration company focused on high-potential tungsten and magnetite assets in North America. The company is advancing the Ima Mine Project in Idaho towards commercial production, addressing critical metal scarcity in North America. The project is a historic tungsten past-producing property with significant infrastructure, and the company holds an exclusive option to acquire full ownership.
Average Trading Volume: 373,141
Technical Sentiment Signal: Buy
Current Market Cap: C$152.2M
Learn more about TUNG stock on TipRanks’ Stock Analysis page.