Tungsten Mining Flags Financial Restatements Ahead of Targeted Nasdaq Listing

MT Newswires Live

13小时前

Tungsten Mining (ASX:TGN) expects to restate certain historical financial results following a re-audit by Grant Thornton, while continuing preparations for a secondary Nasdaq listing targeted for the fourth quarter, according to a Wednesday filing with the Australian bourse.

The adjustments include an additional AU$227,009 in fiscal 2025 grant income, the transfer of a AU$1.6 million impairment expense and AU$1 million Kilba tenement impairment to fiscal 2024, and a AU$70,366 revision to research and development tax offset income, alongside a AU$540,565 increase in the related receivable in fiscal 2025, per the filing.

The company said the adjustments are mainly timing-related and are not expected to materially impact its current financial position, cash balances or underlying operations, the filing added.

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