Tungsten Mining NL (ASX:TGN) Completes Acquisition of Mt Mulgine Project
Acquisition Overview
Tungsten Mining NL (ASX:TGN) has successfully completed the acquisition of the Mt Mulgine Project assets from Minjar Gold. This includes all interests, rights, and title in the tenements associated with the project, alongside mining information, a water licence, and relevant contracts. The total consideration for this acquisition amounted to $3.3 million in cash, as well as the assumption of environmental liabilities.
Project Details and Significance
The Mt Mulgine Project is situated in the Murchison Region of Western Australia, approximately 350km north-east of Perth. Through its wholly owned subsidiary, Mid-West Tungsten Pty Ltd, TGN holds several tenements for exploration, which cover a range of minerals, including tungsten and other valuable resources like gold and molybdenum.
Executive Comments
Gary Lyons, Chairman of Tungsten Mining, expressed his satisfaction with the acquisition, stating, “This acquisition gives the Company rights to explore all minerals on the Mt Mulgine tenements. I would like to thank the TGN team and Minjar for their work to complete this transaction.”
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