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2026-11-06
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Tungsten Mining NL

Scoping Study Developer · Tungsten · Others · Australia Rating locked: sign in to view v6.2
Last 2026-11-06
A$0.19
1D
—
1M
—
YTD
—
1Y
—
Fair value
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Upside
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Mkt cap
A$295M
EV
A$199.4M
Cash
A$49.1M
Debt
A$0
5 newer ASX announcements not yet reflected in this valuation

People, delivery and responsibility

Management background checks

Evidence through 2026-10-09

Research assessment

Executive team

Rating locked: sign in to viewTeam rating and score are available to subscribers

The reviewed public record supports role-relevant professional experience for the current team, but mostly through issuer or professional profiles. Individual contribution, exact prior-role dates and several credentials remain unverified. The reviewed record supports corporate finance and resource-sector familiarity, but does not establish prior operating delivery of a producing tungsten mine by either executive.

Decision-relevant facts

Material summary

Individual involvement and employer context shown separately

Teck Siong Wong

Executive Director and Interim Chief Executive Officer

Current
Full background report for Teck Siong Wong
Personal SuccessIssuer Reported · Medium materiality

Relevant professional experience

Current record identifies Mr Wong as Executive Director and Interim CEO; the reviewed annual report does not provide a dated prior-role chronology.

Individual involvement documented · The cited profile describes the person’s roles and involvement; outcome attribution is limited to what it explicitly states.

2025 Annual Report · Corporate Directory profile; career/role section
Role FitAnalyst Inference · Medium materiality

Role fit and evidence limits

The reviewed record supports corporate finance and resource-sector familiarity, but does not establish prior operating delivery of a producing tungsten mine by either executive.

Responsibility not applicable · This is an analytical inference from the cited career profile and the company’s stated stage; it does not claim personal causation of company outcomes.

2025 Annual Report · Corporate Directory profile; career/role section
GovernanceAlleged · Medium materiality

Takeovers Panel declined GWR association application; referred issues to ASIC

Teck Siong Wong’s GWR Appendix 3Y records him as a director and shareholder of Bluebay Investments Group Corporation. In August 2026, a GWR shareholder alleged an undisclosed association between Bluebay and other holders. The Takeovers Panel declined to conduct proceedings because the application did not provide a sufficient body of evidence of association and it saw no apparent corporate event indicating improper control. It nevertheless said some beneficial-ownership concerns were not addressed to its satisfaction and intended to refer issues to ASIC for investigation. The regulator did not make a finding that Wong or Bluebay breached the law.

Role overlaps event; causation unproven · Wong’s disclosed Bluebay directorship/shareholding is directly recorded in the Panel release; the alleged association is an applicant allegation, not a finding against Wong. The Panel expressly found the evidence insufficient to establish association for its purposes.

GWR Group Limited – Panel Receives Application (TP26/055) · TP26/055, details; Wong’s 10 March 2026 Appendix 3Y relationship and applicant allegations
GWR Group Limited – Panel Declines to Conduct Proceedings (TP26/057) · TP26/057, paragraphs 1–5; evidentiary insufficiency, declined proceedings and intended ASIC referral
Evidence gaps · 2
  • Exact dates for prior roles and independent confirmation of profile claims were unavailable in the reviewed materials.
  • The Takeovers Panel said on 25 August 2026 that it intended to refer unresolved beneficial-ownership disclosure issues to ASIC. No public ASIC investigation result or final resolution was located by the 9 October 2026 cutoff.

Full background report

Teck Siong Wong

Executive Director and Interim Chief Executive Officer

Career chronology

  • Current role; roster as of 2026-09-26: Tungsten Mining NL — Executive Director and Interim Chief Executive Officer. 2025 Annual Report (Corporate Directory profile; title and role); Annual Report to shareholders (Directors’ report / Corporate Directory; executive name and title)

Personal achievements

Relevant professional experience

Current role as of the roster date · issuer reported · medium materiality

Current record identifies Mr Wong as Executive Director and Interim CEO; the reviewed annual report does not provide a dated prior-role chronology.

Attribution: Individual involvement documented. The cited profile describes the person’s roles and involvement; outcome attribution is limited to what it explicitly states.

Relevance: Provides leadership context, but prior operating contributions and education were not verified.

2025 Annual Report (Corporate Directory profile; career/role section)

Governance and interests

Takeovers Panel declined GWR association application; referred issues to ASIC

August 2026 · alleged · medium materiality

Teck Siong Wong’s GWR Appendix 3Y records him as a director and shareholder of Bluebay Investments Group Corporation. In August 2026, a GWR shareholder alleged an undisclosed association between Bluebay and other holders. The Takeovers Panel declined to conduct proceedings because the application did not provide a sufficient body of evidence of association and it saw no apparent corporate event indicating improper control. It nevertheless said some beneficial-ownership concerns were not addressed to its satisfaction and intended to refer issues to ASIC for investigation. The regulator did not make a finding that Wong or Bluebay breached the law.

Attribution: Role overlaps event; causation unproven. Wong’s disclosed Bluebay directorship/shareholding is directly recorded in the Panel release; the alleged association is an applicant allegation, not a finding against Wong. The Panel expressly found the evidence insufficient to establish association for its purposes.

Relevance: Material governance disclosure issue connected to an external directorship/shareholding and relevant to disclosure controls; outcome remains unresolved at cutoff because referral was planned and no ASIC outcome was located.

GWR Group Limited – Panel Receives Application (TP26/055) (TP26/055, details; Wong’s 10 March 2026 Appendix 3Y relationship and applicant allegations); GWR Group Limited – Panel Declines to Conduct Proceedings (TP26/057) (TP26/057, paragraphs 1–5; evidentiary insufficiency, declined proceedings and intended ASIC referral)

Suitability for the current role

Role fit and evidence limits

Assessment at cutoff 2026-10-09 · analyst inference · medium materiality

The reviewed record supports corporate finance and resource-sector familiarity, but does not establish prior operating delivery of a producing tungsten mine by either executive.

Attribution: Responsibility not applicable. This is an analytical inference from the cited career profile and the company’s stated stage; it does not claim personal causation of company outcomes.

Relevance: Connects prior experience to the role’s execution and oversight needs.

2025 Annual Report (Corporate Directory profile; career/role section)

Evidence gaps

  • Exact dates for prior roles and independent confirmation of profile claims were unavailable in the reviewed materials.

  • The Takeovers Panel said on 25 August 2026 that it intended to refer unresolved beneficial-ownership disclosure issues to ASIC. No public ASIC investigation result or final resolution was located by the 9 October 2026 cutoff.

Simon Borck

Chief Financial Officer; Company Secretary

Current
Full background report for Simon Borck
Personal SuccessIssuer Reported · Medium materiality

Relevant professional experience

CFO and Company Secretary; past resource-sector financial reporting experience, including Financial Controller at Territory Resources.

Individual involvement documented · The cited profile describes the person’s roles and involvement; outcome attribution is limited to what it explicitly states.

2025 Annual Report · Corporate Directory profile; career/role section
Role FitAnalyst Inference · Medium materiality

Role fit and evidence limits

The reviewed record supports corporate finance and resource-sector familiarity, but does not establish prior operating delivery of a producing tungsten mine by either executive.

Responsibility not applicable · This is an analytical inference from the cited career profile and the company’s stated stage; it does not claim personal causation of company outcomes.

2025 Annual Report · Corporate Directory profile; career/role section
Evidence gaps · 2
  • Exact dates for prior roles and independent confirmation of profile claims were unavailable in the reviewed materials.
  • The 2017 issuer annual report containing earlier biographical material was inaccessible in this review; career and credential details from that document are not treated as verified.

Full background report

Simon Borck

Chief Financial Officer; Company Secretary

Career chronology

  • Current role; roster as of 2026-09-26: Tungsten Mining NL — Chief Financial Officer; Company Secretary. 2025 Annual Report (Corporate Directory profile; title and role); Annual Report to shareholders (Directors’ report / Corporate Directory; executive name and title)

Personal achievements

Relevant professional experience

Earlier career; exact dates not established in reviewed profile · issuer reported · medium materiality

CFO and Company Secretary; past resource-sector financial reporting experience, including Financial Controller at Territory Resources.

Attribution: Individual involvement documented. The cited profile describes the person’s roles and involvement; outcome attribution is limited to what it explicitly states.

Relevance: Provides role-relevant experience; profile claims are issuer-reported and not a substitute for independent delivery evidence.

2025 Annual Report (Corporate Directory profile; career/role section)

Suitability for the current role

Role fit and evidence limits

Assessment at cutoff 2026-10-09 · analyst inference · medium materiality

The reviewed record supports corporate finance and resource-sector familiarity, but does not establish prior operating delivery of a producing tungsten mine by either executive.

Attribution: Responsibility not applicable. This is an analytical inference from the cited career profile and the company’s stated stage; it does not claim personal causation of company outcomes.

Relevance: Connects prior experience to the role’s execution and oversight needs.

2025 Annual Report (Corporate Directory profile; career/role section)

Evidence gaps

  • Exact dates for prior roles and independent confirmation of profile claims were unavailable in the reviewed materials.

  • The 2017 issuer annual report containing earlier biographical material was inaccessible in this review; career and credential details from that document are not treated as verified.