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Mt Mulgine Tungsten Project, WA

Tungsten Mining NL (TGN) | Pre-Feasibility Study and updated Ore Reserve | Released 1 Sep 2026

Mine life
21.9 years
Base case 8 Mtpa; 21-year target
Strip ratio
0.9
LoM, waste:ore
NPV
A$6,823M
Pre-tax, 8%, Fastmarkets forecast
Capex
A$870M
Initial capital, base case 8 Mtpa

Inferred share: Inferred 13% of mill feed

Figures are as the company states them, in its currency and on its basis. "Not disclosed" means the release doesn't state the figure.

Planning inputs

Inferred 13% of mill feed | Batter 50° to 60°, inter-ramp 40° to 48° at Trench | Dilution 5%, mining loss 5% | Contractor mining, owner-operated later | Ore Reserve by Snowden Optiro

Also in the release

WO3 grade 0.11% at 8 Mtpa, WO3 recovery 70%. AISC US$127 per WO3 mtu net of by-products. Post-tax NPV at 8% A$4,796M. Expansion case to 16 Mtpa: total capital A$1,290M.

Read the release on the company's siteAdded to the tracker; released before the first issue of The Study Sheet.

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