ASX-listed Tungsten Mining (ASX: TGN) might soon find itself with an offtake partner after sending to several such potential parties samples of high-grade tungsten concentrate the company produced on the back of metallurgical testwork.
.png)
Revealed on Wednesday, the company has also now confirmed its vision for tungsten processing at its Watershed project – that vision being laid out in a pending Definitive Feasibility Study (DFS) set for release this month – is viable for the company, given the ease with which high-grade concentrate was produced.
While that DFS will underpin a Final Investment Decision (FID) on the project in Q4 of 2026, TGN’s now focusing on finding offtakers, with a larger 134t pilot sample to be produced for further marketing purposes. Worth noting is the area from which bulk samples were pulled boasts tungsten rock chips up to 64.3% tungsten trioxide (WO3).
Further, the company stated on Wednesday it’s already negotiating commercial terms with a number of parties.
“The Company is engaging with potential offtake partners across Asia, Europe and North America, with testwork confirming that Watershed can produce a high-quality saleable concentrate with low levels of impurities,” Tungsten Mining wrote.
“Initial engagement has been encouraging, and the Company anticipates strong demand for high-quality concentrate in a market currently constrained by limited supply outside of China.
“The Company is investigating the allocation of future production across several markets to avoid reliance on any single customer or region.”
All cards in order, the company can lock in a binding off-take deal to coincide with the release of the DFS. The question is whether a resurgence in geopolitical macro volatility across the last week hinders that process.
Join the discussion: See what’s trending right now on HotCopper, Australia’s largest stock forum, and be part of the conversations that move the markets.
Disclaimer: This content has been prepared as part of a partnership with TGN and is intended for informational purposes only.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.