Viking Mines Ltd. – Progress at the Linka Tungsten Project and Market Context
Viking Mines Ltd. (VKA.AX) closed the trading session on Wednesday 21 March 2026 at AUD 0.01, a 5 % decline from the previous close. The shares are currently quoted at AUD 0.01 on most exchanges, with a total floating supply of 2.5 billion shares. The company’s market capitalisation sits at AUD 25.1 million, and trading volume in the past 24 hours was roughly AUD 111.8 k.
Since the end of last month, the stock has slipped 26.92 %, underscoring the volatility that has characterised the small‑cap mineral sector. The 200‑day simple moving average is also at AUD 0.01, while the 52‑week high of AUD 0.02 (03 November 2026) and low of AUD 0.01 (12 November 2025) frame the recent performance.
Linka Tungsten Project – Key Developments
Viking Mines has advanced the Linka Tungsten Project in Nevada through a sustained reverse‑circulation drilling campaign. The programme, now in its 26th hole, has consistently intersected wide zones of visible scheelite. Visual UV‑light logging aligns closely with mineralised intervals, reinforcing confidence in the drilling strategy.
Key points:
| Item | Detail |
|---|---|
| Holes completed | 26 |
| Assays pending | Additional assays for recent holes will be released in the coming weeks |
| Mineralisation | Significant tungsten grades confirmed in earlier holes |
| Strategic focus | Finish maiden drilling across the main, southwest extension, and regional target areas |
| Model updates | Geological model to be refined as new data arrive |
| Metallurgy | Bulk sample testing underway; exploration of treatment options ongoing |
The consistency between visual and assay data is a strong indicator that Viking’s drilling approach is yielding reliable information, which should facilitate more accurate resource estimation in the near term.
Peer Context – 24‑Hour Performance Snapshot
| Stock | Trade % | Price (AUD) | Market Cap (AUD) |
|---|---|---|---|
| VR8.AX (Vanadium) | +4.65 % | 0.04 | 30.1 m |
| E861.F (European Metals) | –3.85 % | 0.12 | 29.7 m |
| CG1.AX (Carbonxt) | 0 % | 0.07 | 29.9 m |
| CPN.AX (Caspin) | 0 % | 0.10 | 29.7 m |
| RIM.AX (Rimfire Pacific Mining) | 0 % | 0.01 | 30.0 m |
While Viking’s share price mirrors the broader volatility in the junior metals space, the company’s recent operational progress differentiates it from peers that are either flat or declining.
Rimfire Pacific Mining – A Brief Mention
Rimfire Pacific Mining (RIM.AX) announced the acquisition of a 100 % owned scandium exploration project in central New South Wales, adjacent to its Rabbit Trap venture and near the Nyngan Scandium Deposit. The Bogan River Project spans roughly 500 km² and hosts magnetic anomalies interpreted as Ordovician mafic‑ultramafic intrusions—systems analogous to known scandium‑hosted deposits in the region. Rimfire intends to compile prior data, model targets, and commence drilling post‑licence, aiming to bolster its scandium inventory in line with rising demand from advanced manufacturing and technology sectors.
Outlook
From an insider’s perspective, Viking Mines’ disciplined drilling methodology and the clear alignment between visual and assay data suggest that the company is on a solid footing to refine its resource estimates. The market’s current pricing—below the 52‑week low—offers a potential entry point for investors who view the near‑term volatility as a transient market over‑reaction rather than a fundamental weakness.
The company’s focus on metallurgical testing and treatment exploration further positions it to transition from exploration to development should the resource estimates validate the drilling results. As the mining sector continues to seek critical minerals, Viking Mines’ tungsten prospects could become increasingly valuable, especially if global demand for tungsten‑based alloys continues to rise.
Note: All figures are sourced from the latest trading data and the company’s public disclosures.
