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Financings

American Tungsten Announces Strategic Investment in Viking Mines

By The Northwire Desk — AI Analysis Dec 16, 2025 · 07:01 TUNG · 1.42 American Tungsten Corp
TUNG · Price

Executive Summary

  • American Tungsten Corp. entered a Letter of Offer Agreement to subscribe for 150 million ordinary shares of VKA at AUD $0.005 per share, committing AUD $750,000.
  • The proceeds will support VKA’s planned AUD $3.8 million private placement aimed at acquiring 100 % of six tungsten projects in Nevada, USA.
  • Closing of the financing is expected in February 2026 pending shareholder approval.

Key Details

  • Subscription: 150,000,000 ordinary shares of Viking Mines Ltd (VKA) at AUD $0.005 per share.
  • Total Investment: AUD $750,000 from American Tungsten Corp.
  • Purpose of VKA Placement: To raise approximately AUD $3.8 million to acquire a 100 % interest in six Nevada tungsten projects.
  • Historical Production of Target Assets: ~123,000 tons at an average grade of 0.54 % WO₃.
  • Closing Timeline: Expected February 2026, subject to VKA shareholder approval.
  • Strategic Rationale (CEO Quote): “This strategic cornerstone investment… strengthens our ability to build a meaningful U.S.-based tungsten platform… aligns exploration, resource growth, and future domestic supply.” – Ali Haji, CEO, American Tungsten Corp.

Notable Quotes

“With tungsten's outlook at historic highs and secure Western supply more critical than ever, this investment directly complements our existing footprint at the IMA Tungsten Mine.” – Ali Haji, Chief Executive Officer, American Tungsten Corp.

Read the original news release →

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