American Tungsten (CSE:TUNG) CEO Ali Haji says the company is poised to expedite development at the IMA Mine in the US, after completing tranche two of a non-brokered private placement.
Tranche two raised C$1.18 million ($1.28 million) from the sale of 461,000 common shares at C$2.58 per share.
During October 2025, the company completed tranche one of the private placement which raised C$16.8 million.
Haji says the second tranche underscores the continued confidence from investors who recognise tungsten’s vital role in building resilient, secure supply chains.
The funds will be used for general and administrative expenses, including working capital purposes.
American Tungsten is a Canadian explorer focused on tungsten and magnetite assets in North America.
Write to Aaliyah Rogan at Mining.com.au
Images: American Tungsten
