Tungsten Eagle Development Corp.
0.50
CAD
-0.05
(-9.09%)
Tungsten Eagle Development Corp.
CSE:MAGA
(Canadian Securities Exchange)
Recent
price
0.50
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div
yld
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ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Tungsten Eagle Development Corp. is a Canadian critical mineral exploration and development company engaged in the identification, acquisition, exploration, and advancement of strategic mineral resource properties in North America. The company focuses primarily on developing domestic supplies of tungsten and associated critical metals to serve national defense, aerospace, advanced manufacturing, energy, and high-technology sectors. Its core operational offerings and activities include mineral property acquisition and option management; geological exploration, comprising surface mapping, geochemical soil and rock sampling, and geophysical surveys; exploratory diamond core and reverse-circulation drilling; assay testing and metallurgical evaluation; mineral resource modeling and deposit characterization; environmental baseline assessment and exploration permitting; and preliminary economic project evaluation. The company conducts its mineral exploration operations in the United States through its wholly-owned subsidiary, Tungsten Eagle (U.S.A.) Ltd. Its flagship asset is the Liberty Ridge Property, consisting of 269 unpatented lode mining claims spanning approximately 5,351 acres in the southern Delano Range of Elko County, Nevada, situated adjacent to the historic MEGA tungsten deposit and incorporating the historical Mitchell mine site. In September 2026, the company completed a comprehensive corporate transformation and fundamental change, which included changing its corporate name from Patriot Resources Corp. to Tungsten Eagle Development Corp., implementing a one-for-two share consolidation, and listing its common shares on the Canadian Securities Exchange under the ticker symbol MAGA following delisting from the TSX Venture Exchange. Concurrently, the company secured an option agreement to acquire a 100% interest in the Liberty Ridge Property and completed a non-brokered private placement equity financing raising gross proceeds of 5.0 million Canadian dollars to fund initial exploration campaigns, property-wide permitting, and technical evaluations. Tungsten Eagle Development Corp. was incorporated in 1987 and is headquartered in Vancouver, British Columbia, Canada.