Want to see AU:TGN full AI Analyst Report?
Tungsten Mining NL (TGN) AI Stock Analysis
Tungsten Mining NL
(ASX:TGN)
The overall score is very low, driven primarily by the company's pre-revenue status and rapidly deteriorating cash flows, which indicate a high-risk, cash-burning venture. While the strong, debt-free balance sheet provides a critical buffer, it is being consumed by widening losses. Technical trends are bearish, and the negative P/E ratio confirms a lack of current profitability, leaving the stock with few near-term positive catalysts.
Tungsten Mining NL (TGN) vs. iShares MSCI Australia ETF (EWA)
- Market Cap
- AUD 295.69M
- Dividend Yield
- ―
- Average Volume (3M)
- 4.63M
- Price to Earnings (P/E)
- -11.4
- Beta (1Y)
- -0.18
- Revenue Growth
- ―
- EPS Growth
- -78.49%
- Country
- Australia
- Employees
- 0
- Sector
- Basic Materials
- Sector Strength
- 61
- Industry
- Industrial Materials
Tungsten Mining NL Business Overview & Revenue Model
Company Description
Tungsten Mining NL is an Australian-based resources firm that engages in the identification, assessment, and advancement of mineral ventures. Its exploration efforts primarily target deposits rich in tungsten, molybdenum, gold, silver, bismuth, and f...
Tungsten Mining NL Financial Statement Overview
Summary
Financial performance is critically weak. The income statement shows zero revenue and widening net losses (-$19.1M), while cash flow is deeply negative (-$11.1M operating cash flow). The only support comes from a strong, debt-light balance sheet with $75M in equity, which provides a temporary runway but is being rapidly eroded.
Income Statement
8Very NegativeBalance Sheet
65PositiveCash Flow
10Very Negative| Breakdown | TTM | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0 | 0 | 106.62K | 4,230 | 0 | 20.79K |
| Gross Profit | -191.48K | -416.90K | 106.62K | -992.79K | -433.42K | -267.75K |
| EBITDA | -21.50M | -21.50M | -5.38M | -4.53M | -3.28M | -5.22M |
| Net Income | -19.08M | -19.08M | -7.82M | -5.11M | -2.93M | -5.09M |
Balance Sheet | ||||||
| Total Assets | 92.16M | 92.16M | 42.90M | 29.85M | 35.06M | 36.99M |
| Cash, Cash Equivalents and Short-Term Investments | 49.32M | 49.32M | 2.74M | 8.31M | 12.64M | 14.88M |
| Total Debt | 377.78K | 377.78K | 4.56M | 641.11K | 822.26K | 412.15K |
| Total Liabilities | 17.14M | 17.14M | 14.33M | 2.48M | 2.58M | 1.56M |
| Stockholders Equity | 75.02M | 75.02M | 28.56M | 27.38M | 32.49M | 35.42M |
Cash Flow | ||||||
| Free Cash Flow | -11.24M | -11.24M | -9.35M | -4.06M | -1.93M | -4.74M |
| Operating Cash Flow | -11.06M | -11.06M | -5.53M | -4.02M | -1.91M | -4.60M |
| Investing Cash Flow | -786.46K | -786.46K | -3.81M | -42.48K | -15.47K | 444.78K |
| Financing Cash Flow | 58.43M | 58.43M | 3.80M | -268.21K | -303.85K | -292.43K |
Tungsten Mining NL Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:TGN, the sentiment is Negative. The current price of 0.19 is below the 20-day moving average (MA) of 0.21, below the 50-day MA of 0.27, and below the 200-day MA of 0.25, indicating a bearish trend. The MACD of -0.02 indicates Negative momentum. The RSI at 33.95 is Neutral, neither overbought nor oversold. The STOCH value of 52.38 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:TGN.
Tungsten Mining NL Peers Comparison
Overall Rating
AU:KGL46Neutral
AU:NTU43Neutral
AU:HAS40Underperform
AU:SYR40Underperform- AU:TGN39Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| Sector * | 61Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% |
| AU:KGL | 46Neutral | AUD 340.71M | -28.85 | -2.78% | ― | ― | -19.51% |
| AU:NTU | 43Neutral | AUD 229.06M | -5.85 | -119.39% | ― | ― | -10.81% |
| AU:HAS | 40Underperform | AUD 46.86M | -8.81 | -5.52% | ― | ― | 98.14% |
| AU:SYR | 40Underperform | AUD 150.93M | -0.49 | -46.99% | ― | 234.01% | 8.57% |
| AU:TGN | 39Underperform | AUD 295.69M | -11.45 | -33.78% | ― | ― | -78.49% |
* Basic Materials Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| AU:TGN | Tungsten Mining NL | 0.19 | 0.09 | 97.92% | |
| AU:SYR | Syrah Resources Limited | 0.07 | -0.22 | -77.59% | |
| AU:KGL | KGL Resources Limited | 0.15 | 0.00 | 2.74% | |
| AU:NTU | Northern Minerals Limited | 0.02 | -0.02 | -41.46% | |
| AU:HAS | Hastings Technology Metals Limited | 0.20 | -0.40 | -66.72% |
Tungsten Mining NL Corporate Events
Tungsten Mining advances Watershed build and confirms world-scale Mt Mulgine economics
Tungsten Mining NL reported a pivotal September quarter, advancing its two-project strategy built around the Watershed and Mt Mulgine tungsten developments. With A$70.1 million in cash following a A$50 million placement, the company has bolstered its...
Tungsten Mining Issues New Shares on Performance Rights Conversion
Tungsten Mining NL has issued 3,650,000 fully paid ordinary shares following the conversion of an equal number of performance rights granted under its Equity Incentive Plan. The company confirms the shares were issued without a prospectus under the C...
Tungsten Mining NL Seeks ASX Quotation for 3.65 Million New Shares
Tungsten Mining NL has lodged an application with the ASX for quotation of 3,650,000 new ordinary fully paid shares. The securities, issued following the exercise or conversion of existing options or other convertible instruments, will expand the com...
Tungsten Mining NL Cancels 8.5 Million Performance Rights
Tungsten Mining NL has notified the market of the cessation of 8,500,000 performance rights, recorded as having ceased on October 19, 2026 for reasons classified as ‘Other’. This adjustment in issued capital reflects changes to the compan...
Tungsten Mining NL Issues 8.5 Million Unlisted Options
Tungsten Mining NL has notified the market of the issue of 8,500,000 unlisted options as part of a new class of unquoted equity securities. The options, recorded under an Appendix 3G filing, were issued on October 19, 2026, and will not be traded on...
Tungsten Mining NL Sets November Date for AGM and Moves to Digital Notices
Tungsten Mining NL has called its annual general meeting of shareholders for 10:00am WST on 30 November 2026 at DLA Piper in Perth, Western Australia. The company is shifting away from mailing physical meeting notices, instead providing electronic ac...
Tungsten Mining NL Confirms ASX Corporate Governance Compliance for 2026
Tungsten Mining NL has lodged its Appendix 4G and confirmed that its corporate governance statement for the year ended 30 June 2026 is available on its website and current as of 28 September 2026. The statement has been approved by the board, satisfy...
Tungsten Mining NL Updates Corporate Governance Framework
Tungsten Mining NL has released an updated Corporate Governance Statement outlining its framework for board responsibilities, management oversight, and director appointment and evaluation. The document details how the board, chairperson, chief execut...
Tungsten Mining advances Watershed funding with high gearing options
Tungsten Mining NL is an Australian tungsten-focused miner developing the Watershed project in Far North Queensland and the Mt Mulgine project in Western Australia. By advancing these assets, the company is targeting a stronger position in global cri...
Tungsten Mining NL Confirms Regulatory-Compliant Share Placement to Support Tungsten Growth Strategy
Tungsten Mining NL has issued 156,250,000 fully paid ordinary shares to institutional, sophisticated and professional investors under a share placement announced earlier in September 2026. The company has lodged a cleansing notice confirming the shar...
Tungsten Mining Taps Jefferies to Bolster Funding Strategy for Watershed Project
Tungsten Mining NL has appointed Jefferies as its financial advisor to identify and engage potential strategic investors for the planned development of the Watershed Tungsten Project in Far North Queensland. This follows the recent appointment of Cut...
Tungsten Mining NL Seeks Quotation for 156 Million New ASX Shares
Tungsten Mining NL has applied for the quotation of 156,250,000 new ordinary fully paid shares on the ASX, with an issue date of September 25, 2026. The sizeable share issuance, linked to previously announced transactions, expands the company’s...
Tungsten Mining Plans Major Share Placement for Capital Raising
Tungsten Mining NL has notified the ASX of a proposed placement of up to 156,250,000 ordinary fully paid shares, with the new securities expected to be issued on 25 September 2026. The move signals a planned capital raising that could support the com...
Tungsten Mining Raises $50m to Advance Watershed Tungsten Project
Tungsten Mining NL has secured firm commitments from institutional and professional investors for a $50 million share placement priced at $0.32 per new share, representing discounts to recent trading levels. The capital raise, supported by new and ex...
Tungsten Mining NL Requests Trading Halt Ahead of Potential Capital Raising
Tungsten Mining NL, an Australian-listed mining company specialising in tungsten and related mineral projects, operates under ASX regulations and targets investors seeking exposure to commodity development plays. Its shares trade on the Australian Se...
Tungsten Mining Confirms High-Grade Concentrates at Watershed Project
Tungsten Mining NL has completed metallurgical testwork at its Watershed Tungsten Project in Queensland, confirming the ability to produce saleable tungsten concentrates grading up to 65.9% WO3. The concentrates were generated via conventional ore-so...
Tungsten Mining Targets Nasdaq Listing as Audit Triggers Prior-Period Restatements
Tungsten Mining NL says preparations for its planned secondary listing on the Nasdaq Stock Market are progressing, with the company targeting a debut in the fourth quarter of 2026. As part of the listing process, it appointed Grant Thornton Audit Pty...
Tungsten Mining’s Mt Mulgine Study Confirms World-Scale Project Amid Tightening Supply
Tungsten Mining NL has released an investor presentation outlining the outcomes of the pre-feasibility study for its Mt Mulgine Project, which confirms the development as a world-scale tungsten operation. The study highlights strong technical and eco...
Mt Mulgine Study Positions Tungsten Mining for Low-Cost, Tier-One Tungsten Output
Tungsten Mining NL has completed a Pre-Feasibility Study for its Mt Mulgine Tungsten Project, confirming potential to become one of the world’s largest and lowest-cost tungsten operations. The study outlines a 21-year mine life, initial capital...
Tungsten Mining Taps Cutfield Freeman to Advance Watershed Project Funding
Tungsten Mining NL has appointed specialist mining finance advisory firm Cutfield Freeman & Co to devise and execute a debt funding strategy for the Watershed Tungsten Project in Far North Queensland. The adviser brings extensive global mining fi...
Tungsten Mining launches major drilling push to de-risk Watershed project
Tungsten Mining NL has launched major reverse circulation and diamond drilling programs at its Watershed Tungsten Project in Queensland, marking the next key phase in advancing the mine following positive preliminary economic outcomes released in Jun...
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Sep 30, 2026