VKA expands US tungsten portfolio - tungsten prices hit new all time highs
Our US tungsten Investment Viking Mines (ASX: VKA) just added more ground to its US tungsten asset portfolio.
VKA acquired its US tungsten assets back in December which is when we Invested in VKA.
Check out our initiation note here: Our Latest Investment: Viking Mines (ASX: VKA)
Today, VKA’s added an additional ~20km^2 of ground to its portfolio of assets - and interestingly took up all of the ground surrounding its Linka project.
(including a part of the project which has historic workings ~1.9km northeast of the main mining area)
VKA’s projects have historic production of a combined ~123,000t at 0.54% tungsten grades.
At the Linka project (where VKA has expanded its ground position) between 1955 and 1956, 360 tonne per day was milled from an open pit mine - here is a photo of that old pit:
(source)
Next, we want to see VKA get drilling approvals to test below those old workings/pits…
Tungsten the next major US critical mineral?
Tungsten is a critical military mineral, from which the USA has zero domestic supply, so is currently 100% reliant on imports.
Tungsten has military uses in munitions (bullets), vehicles and body armour, missiles and radiation shielding.
Tungsten prices are now trading at all time highs. (source)
(source)
In 2025, antimony was the most popular critical mineral followed by rare earths.
We think tungsten could be the next critical mineral to become a market favourite next.
IF that was to happen, there are very few tungsten exposures on the ASX and even fewer with assets in the US.
Check out the 9 reasons we Invested in VKA in our launch note, where we go into more detail on the 9 reasons: Our Latest Investment: Viking Mines (ASX: VKA)
The 9 Reasons We Invested in VKA
- Low market cap with room to re-rate higher
- VKA has the same team and backers as Locksley Resources (ASX: LKY).
- Tungsten prices trading at all time highs
- China dominates the global supply and has placed export restrictions on tungsten
- VKA’s tungsten assets are in Nevada, USA
- Very few companies with tungsten projects on the ASX - even less with projects inside the USA
- VKA’s projects have produced tungsten in the past
- Capital is flowing into US critical metals macro thematic
- VKA can follow the “US critical minerals playbook”
What do we want to see VKA do next?
🔄Complete the acquisition of the new tungsten assets.
Next, we want to see VKA complete the acquisition of its six tungsten assets in the US.
VKA set the notice of meeting to have the deal approved for 12th of February, so we should see that news soon.
🔄 Target generation work (mapping/sampling)
We want to see VKA complete rounds of sampling (including channel/rock chip sampling) to confirm historic tungsten mineralisation at the project.
We also want to see the project mapped with LiDAR to reveal the full extent of the underground workings on the project.
Milestones:
🔄 Mapping and sampling (soils and rock chips)
🔲 Geophysics/LiDAR
🔲 Drill targets confirmed
