Shares of Tungsten Mining NL [ASX:TGN] climbed over 10.59% in the first half of trading today. Shares are trading at $0.47 at the time of writing, a substantial rise for the day.
The company is focused on the discovery and development of tungsten deposits in Australia.
What caused Tungsten Mining share price increase?
Tungsten Mining’s share price has had a tumultuous few months.
Just in May, the share price for Tungsten Mining was at high of $0.80. Now it sits at $0.47; however, this is still a 10.59% jump compared to yesterday.
So, what caused this rise?
There have been no announcements made from Tungsten Mining.
This doesn’t mean there isn’t huge potential.
Tungsten Mining recently closed a $20 million capital deal after announcing plans to buy the Vital Metals Ltd [ASX:VML] Watershed Tungsten Project in Queensland for $15 million.
A recent review of the top performing resource stocks also showed that Tungsten Mining share price has surged nearly 2,500% since June 2017.
What’s next for Tungsten Mining?
Like with any mining stock, it’s hard to foresee how they will perform in the future.
However, with the recent thought toward buying another tungsten project, Tungsten Mining seems to be ahead of their competitors.
For Money Morning
PS: Our resource analyst Jason Stevenson has compiled ‘The Top 10 Australian Mining Stocks’ trading on the ASX right now. Want to find out which ones will benefit from the resurgence in commodity prices? Click here.