Companies / TGN

TUNGSTEN MINING NL

ASX:TGNMaterials
1.40B shares on issueASX (delayed) · as of 28 July 2026$0.22price · delayed$300.2Mmarket cap · indicative
C
Dilution grade

Share count grew 56% in 24 months; 3 cash raises in 24 months

Cash runway13.7 quarters of funding
Share-count growth (24m)56.2%
Raise cadence (24m)3 cash raises
Options & rights overhang1.8% of shares
In-the-money supply0.0% of shares
Pending proposed issuesnone

TUNGSTEN MINING NL's ordinary share count grew 56.2% between December 2024 and February 2026, to 1.40B shares. The company raised capital three times in that period for total disclosed proceeds of A$67.0M, most recently raising A$53.0M in January 2026. Options and rights on issue could convert into 25M new shares, equal to 1.8% of the current share count, with 0% in the money at present. At the March 2026 quarter the company reported A$49.2M in available cash, equal to about 13.7 quarters of cover at its recent spending rate. No proposed securities issues (Appendix 3B) are pending.

AI-generated summary of this page's cited filings · updated 28 July 2026
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1.8%
Max option dilution
0.0%
ITM option dilution
2
Raises · last 12 months
13.7 qtrs
Cash cover · over 4 quarters

Shares on issue — last 2 years

Ordinary shares on issue
Weekly counts from ASX records. Dots mark cash capital raises. Latest count 1.40B per ASX (delayed) (28 July 2026).
0.91B1.09B1.27BDec 24Sept 25July 26Cash raise · 22 Jan 2026Cash raise · 25 Sept 2025Cash raise · 13 Dec 2024

Cash runway

13.7 qtrs
More than four quarters of funding at the recent spend rate.
$49.2M available cash at quarter ended 31 Mar 2026 · Runway is computed from Appendix 4C/5B filings and announced raise proceeds.
Paid plan
Cash runway history
Quarterly cash, net spend and cover trend from every Appendix 4C/5B on record up to 31 Mar 2026.
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Issuance timeline

Latest 5 filings (Appendix 2A quoted issues, 3G unquoted, 3H cancellations)

DateFormSecurityTotal on issue afterSource
5 Mar 20263G · unquotedORDINARY FULLY PAID1.40BAppendix 3G
8 Feb 20262A · quoted issueTGN : ORDINARY FULLY PAID1.40BAppendix 2A
12 Jan 20263G · unquotedTGN : ORDINARY FULLY PAID1.12BAppendix 3G
9 Dec 20252A · quoted issueTGN : ORDINARY FULLY PAID1.12BAppendix 2A
5 Dec 20252A · quoted issueTGN : ORDINARY FULLY PAID1.04BAppendix 2A
Paid plan
Full issuance history
Every quoted and unquoted issue and cancellation on record, plus unquoted securities (Appendix 4.2).
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Capital raises

3 cash raises in the last 24 months · 2 in the last 12 months

$53.0M
Capital raise
22 Jan 2026
Paid plan
Full raise history
Issue price, discount, brokers, purpose and tranche detail for every raise on record.
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Pending proposed issues

No proposed issues (Appendix 3B) currently pending.

Options & convertible securities

1.8%
Total overhang · of current shares
0.0%
In the money · at current price
25.4M
Potential new shares
—
Nearest expiry
Paid plan
Per-line options & expiry cliffs
Each option line — code, strike, expiry, quantity and ITM value — plus the expiry-cliff chart.
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Director dealings

DateDirectorTypeSharesOptionsValueSource
9 Apr 2026Teck Siong WongOther4.0M——3Y notice
12 Jan 2026Chew Wai ChuenOther———3Y notice
12 Jan 2026Gary LyonsOther———3Y notice
Paid plan
Full dealing history
Every change-of-director's-interest notice on record, with direction and consideration.
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Ownership

Free account
Top-20 holders & substantial holder notices
Top-20 register snapshot and substantial-holder movements, each linked to its source notice.
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Latest announcements

21 June 2026$PWatershed Preliminary Economic Evaluation Presentation
18 June 2026Investor Webinar - Watershed PEE Study Highlights
17 June 2026$PWatershed Study - Strong Economic Outcomes
17 June 2026$PWatershed Updated Mineral Resource Estimate
4 June 2026$PDrilling Commences at Mt Mulgine
13 May 2026$PPresentation - Critical Minerals Investor Lunch
12 May 2026$PDrilling Preparations Commence Onsite at Mt Mulgine
30 Apr 2026$PQuarterly Activities/Appendix 5B Cash Flow Report
17 Apr 2026Results of Meeting
13 Apr 2026Change of Director's Interest Notice - Wong
8 Apr 2026Details of Auditor Appointment/Resignation
31 Mar 2026$PWatershed drilling to further define shallow tungsten zones
15 Mar 2026$PMt Mulgine Drilling Program to Test Exploration Target
6 Mar 2026Notice of Extraordinary General Meeting/Proxy Form
5 Mar 2026Notification regarding unquoted securities - TGN
26 Feb 2026Half Yearly Report and Accounts
25 Feb 2026$PTungsten Mining to Pursue U.S. Listing
23 Feb 2026Presentation - Developing Two Critical Minerals Projects
18 Feb 2026$PCompany Update and Preliminary Offtake Discussions
9 Feb 2026Change in substantial holding from GWR

Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 July 2026.