- Tungsten Mining signs MoU with MCC International Incorporation Ltd (MCCI).
- The MoU has been signed to support the progress of the Mt Mulgine Tungsten Project.
- The stock TGN closed today’s session strong.
ASX-listed Australian tungsten developer Tungsten Mining NL (ASX:TGN) announced on Tuesday that the Company has entered into a Memorandum of Understanding (MOU) with MCC International Incorporation Ltd (MCCI) to facilitate the development of the Mulgine Tungsten Project.
Some important points from the MoU are as follows:
- The non-binding MOU provides the framework to support the completion of feasibility studies for the mine and the development processing plant.
- The parties have agreed to negotiate formal agreements to support the proposed collaboration and Project development; and
- A recently concluded PQ diamond drilling program at Mt Mulgine discovered 37 tonnes of the representative core to be used for further metallurgical testwork in the successive phase of the feasibility study.
Mt Mulgine Tungsten Project
The Mt Mulgine Project is situated in the Murchison Region of WA. TGN owns 100% of the tungsten and molybdenum rights on a group of tenements which are subject to considerable assessment for Tungsten and molybdenum.
The execution of the MOU with MCCI indicates a vast opportunity for Tungsten Mining to fulfil its obligation to progress the development of the Mt Mulgine Tungsten Project.