Tungsten Mining Completes Preliminary Economic Evaluation for Queensland Tungsten Project, Shares Fall 6%
Tungsten Mining (ASX:TGN) completed a preliminary economic evaluation for its Watershed tungsten project in Queensland, confirming strong technical and economic potential, according to a Thursday Australian bourse filing.The evaluation delivered a pre-tax net present value of AU$1.31 billion and an internal rate of return of 198% at an 8% discount rate, with a nine-month payback from first ore. It also delivered a total pre-production capital of AU$274 million with a life-of-mine of eight years, and a life-of-mine operating margin of 56%.The mineral resource for the project came in at 69.7 million tonnes at 0.11% grade of tungsten trioxide.It is advancing toward a final investment decision in September, and first production is targeted in 2027. An infill drilling program exceeding 15,000 meters is beginning in July to support resource definition in areas targeted for initial mining.Its shares fell 6% in recent trading on Thursday.
