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Tungsten Mining NL
(Sydney:TGN)
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Rating:41Neutral
Price Target:
AU$0.23
â–Ľ(-16.43% Downside)
Action:Reiterated
Date:09/30/26
The score is held down primarily by weak financial performance (persistent losses, minimal/volatile revenue, and ongoing negative operating/free cash flow) and weak technical positioning (price below key moving averages with soft momentum). A low-debt balance sheet is a mitigating factor, but valuation is not supportive due to a negative P/E and no dividend yield data.
Positive Factors
Very low leverage
Near-zero leverage reduces financial risk and avoids a significant interest burden while projects remain in exploration and development. This gives Tungsten Mining greater flexibility to manage its capital structure and withstand operating losses than a similarly unprofitable, highly indebted company.
Negative Factors
Minimal and volatile revenue
Minimal and volatile revenue indicates that Tungsten Mining has not yet established a dependable operating revenue base. The period with zero revenue underscores its pre-production profile and leaves future funding and project progress less supported by internally generated sales.
Read all positive and negative factors
Positive Factors
Negative Factors
Very low leverage
Near-zero leverage reduces financial risk and avoids a significant interest burden while projects remain in exploration and development. This gives Tungsten Mining greater flexibility to manage its capital structure and withstand operating losses than a similarly unprofitable, highly indebted company.
Read all positive factors
Tungsten Mining NL (TGN) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$380.38M
Dividend YieldN/A
Average Volume (3M)5.92M
Price to Earnings (P/E)―
Beta (1Y)-0.12
Revenue GrowthN/A
EPS Growth-78.49%
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding1,552,590,200
10 Day Avg. Volume7,565,421
30 Day Avg. Volume5,921,651
Financial Highlights & Ratios
PEG Ratio-0.18
Price to Book (P/B)3.52
Price to Sales (P/S)0.00
P/FCF Ratio-23.50
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$0.45Price Target Upside60.71% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.04
Revenue Forecast (FY)AU$94.00M
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, an...
How the Company Makes Money
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Tungsten Mining NL Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
68
Positive
Cash Flow
22
Negative
| Breakdown | TTM | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 84.37K | 0.00 | 106.62K | 4.23K | 0.00 | 20.79K |
| Gross Profit | -6.13K | -416.90K | 106.62K | -992.79K | -433.42K | -267.75K |
| EBITDA | -5.04M | -21.50M | -5.53M | -4.74M | -3.28M | -5.22M |
| Net Income | -7.56M | -19.08M | -7.82M | -5.11M | -2.93M | -5.09M |
Balance Sheet | ||||||
| Total Assets | 47.73M | 92.16M | 42.90M | 29.85M | 35.06M | 36.99M |
| Cash, Cash Equivalents and Short-Term Investments | 7.66M | 49.32M | 2.74M | 8.31M | 12.64M | 14.88M |
| Total Debt | 751.01K | 377.78K | 4.56M | 641.11K | 822.26K | 412.15K |
| Total Liabilities | 9.77M | 17.14M | 14.33M | 2.48M | 2.58M | 1.56M |
| Stockholders Equity | 37.96M | 75.02M | 28.56M | 27.38M | 32.49M | 35.42M |
Cash Flow | ||||||
| Free Cash Flow | -4.88M | -11.24M | -9.35M | -4.06M | -1.93M | -4.74M |
| Operating Cash Flow | -4.87M | -11.06M | -5.53M | -4.02M | -1.91M | -4.60M |
| Investing Cash Flow | 310.83K | -786.46K | -3.81M | -42.48K | -15.47K | 444.78K |
| Financing Cash Flow | 8.00M | 58.43M | 3.80M | -268.21K | -303.85K | -292.43K |
Tungsten Mining NL Technical Analysis
Negative
0.28
Price Trends
0.27
Negative
0.24
Negative
0.25
Negative
Market Momentum
>-0.01
Positive
34.14
Neutral
1.96
Positive
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 0.28 is below the 20-day moving average (MA) of 0.33, above the 50-day MA of 0.27, and above the 200-day MA of 0.25, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 34.14 is Neutral, neither overbought nor oversold. The STOCH value of 1.96 is Positive, 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
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
47 Neutral | AU$248.15M | -6.10 | -128.41% | ― | ― | -10.81% | |
45 Neutral | AU$408.85M | -35.58 | -2.72% | ― | ― | -19.51% | |
44 Neutral | AU$167.18M | -0.53 | -46.99% | ― | 234.01% | 8.57% | |
41 Neutral | AU$380.38M | -14.46 | -22.74% | ― | ― | -78.49% | |
38 Underperform | AU$60.92M | -11.23 | -67.75% | ― | ― | 98.14% |
* Basic Materials Sector Average
AU:TGN
Tungsten Mining NL
0.26
0.18
218.75%
AU:SYR
Syrah Resources
0.07
-0.16
-69.00%
AU:KGL
KGL Resources Limited
0.19
0.06
49.19%
AU:NTU
Northern Minerals Limited
0.03
-0.01
-30.56%
AU:HAS
Hastings Technology Metals Limited
0.26
-0.08
-23.19%
Tungsten Mining NL Corporate Events
Tungsten Mining NL Confirms ASX Corporate Governance Compliance for 2026
Sep 29, 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, sati...
Tungsten Mining NL Updates Corporate Governance Framework
Sep 29, 2026
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 exe...
Tungsten Mining advances Watershed funding with high gearing options
Sep 28, 2026
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 ...
Tungsten Mining NL Confirms Regulatory-Compliant Share Placement to Support Tungsten Growth Strategy
Sep 24, 2026
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 s...
Tungsten Mining Taps Jefferies to Bolster Funding Strategy for Watershed Project
Sep 24, 2026
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 ...
Tungsten Mining NL Seeks Quotation for 156 Million New ASX Shares
Sep 24, 2026
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 company̵...
Tungsten Mining Plans Major Share Placement for Capital Raising
Sep 21, 2026
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 ...
Tungsten Mining Raises $50m to Advance Watershed Tungsten Project
Sep 21, 2026
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...
Tungsten Mining NL Requests Trading Halt Ahead of Potential Capital Raising
Sep 21, 2026
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...
Tungsten Mining Confirms High-Grade Concentrates at Watershed Project
Sep 15, 2026
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...
Tungsten Mining Targets Nasdaq Listing as Audit Triggers Prior-Period Restatements
Sep 15, 2026
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 ...
Tungsten Mining’s Mt Mulgine Study Confirms World-Scale Project Amid Tightening Supply
Sep 6, 2026
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 ...
Mt Mulgine Study Positions Tungsten Mining for Low-Cost, Tier-One Tungsten Output
Aug 31, 2026
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 capi...
Tungsten Mining Taps Cutfield Freeman to Advance Watershed Project Funding
Aug 23, 2026
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 fina...
Tungsten Mining launches major drilling push to de-risk Watershed project
Aug 10, 2026
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 ...
Tungsten Mining Director Boosts Stake with $11.55m Off-Market Share Purchase
Jul 30, 2026
Tungsten Mining NL has disclosed a significant change in director shareholdings involving Tan Sri Dato Tien Seng Law, in accordance with Australian Securities Exchange requirements. The director’s interests comprise both direct holdings and ...
Tungsten Mining advances Watershed development and launches major Mt Mulgine drilling campaign
Jul 29, 2026
Tungsten Mining NL has advanced its twin-project tungsten strategy, anchored by near-term development at the Watershed project and growth at Mt Mulgine. The company is leveraging a solid cash balance and expanding capital-markets options, includin...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.