Wolf Minerals Limited

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Wolf Minerals is an ASX (WLF) and AIM (WLFE) listed specialty metals producer from its operations at Drakelands Mine in the United Kingdom's Southwest.

The world class Drakelands Mine is ideally located close to an existing work force and infrastructure, just ten kilometres from Plymouth, a city of 250,000 people in England's Devon county.

Construction of the Drakelands Mine began on site in March 2014 and was completed on schedule in June 2015, with deliveries to customers commencing in September 2015.

The Drakelands Mine is rated by the British Geological Survey as the world's fourth largest tungsten resource and it provides a secure supply of tungsten for a global customer base. A tin concentrate is also produced, generating additional revenue for Wolf.

Wolf is led by an experienced management team of British and Australian mining professionals and more than 200 people are permanently employed on site.

Wolf is committed to displaying leadership in health, safety and sustainable development and is working proactively to manage its impact on the environment. 

Drakelands Mine

The Drakelands Mine is a recently constructed world-class tungsten and tin mine located in the United Kingdom and it is one of only two mines outside of China with production capacity greater than 3,000tpa tungsten concentrate.


Drakelands Mine is located near the village of Hemerdon in the UK in an existing mining area and adjacent to operating China clay mines.

The City of Plymouth is only 10 kilometres away, providing the Mine with excellent transport links and power and water infrastructure. Plymouth has a large naval base and university providing strong ancillary services and support for the Mine.

The location of the Drakelands Mine enables Wolf to recruit and retain a talented and stable workforce, who generally live in the local area.




The extraction of tungsten at Drakelands takes place through open pit mining, with the pit measuring 850m long by 450m wide and ultimately extending to a depth of 260 metres. The sides of the pit will be cut in benches to allow for safe working as the mine gets deeper.

Ore removed from the pit is stockpiled according to its mineralogical characteristics and grade in preparation for use in the processing plant.

Waste rock from the open pit is loaded by excavators onto dump trucks and driven on internal haul roads to the mine waste facility (MWF). The material being deposited in the waste facility is classified as non-hazardous.

The MWF is designed to be inherently stable. Its construction consists of a rockfill embankment progressively constructed from run-of-mine waste. Finer residues (tailings) are contained within this embankment and allowed to settle, with the excess water pumped back to the processing plant for recycling.

The MWF has similarities with the china clay tips already found in the area at nearby Lee Moor and throughout mid-Cornwall.


For more information, please click here


Plan view of project and adjacent clay pits class=aligncenter with-capt

Plan view of project and adjacent clay pits

 Aerial photo of Drakelands Mine class=aligncenter with-capt

Aerial photo of Drakelands Mine

Mine Waste Facility class=aligncenter with-capt

Mine Waste Facility


John Hopkins

John Hopkins OAM

Independent Non Executive Chairman

(Joined the Board of Wolf Minerals in May 2010)

Mr Hopkins has been a board member or chairman of nearly 20 public listed companies across Australia and Canada since 1985. Many of these positions have seen him involved in the financing and development of gold, base metal, energy, mineral sands and other resource projects in Australia and overseas.

Mr Hopkins is currently the Chairman of Universal Coal Plc company.

Mr Hopkins is a professional company director and chairman and is a graduate in law of the University of Western Australia. He has been admitted to practice as a barrister and solicitor for more than 40 years. Mr Hopkins was awarded the Medal of the Order of Australia (OAM) in January 2015 for services to the minerals and resources sector.

Richard Lucas

Richard Lucas

Managing Director

(Joined Wolf Minerals in April 2011)

Mr Lucas was appointed as Managing Director on 21 March 2018.  He was previously appointed as Interim Managing Director on 7 April 2017 and joined the Board as a Director on 8 May 2017.

Mr Lucas is a Chartered Accountant with over 18 years of financial experience in various sectors, including mining, construction, property development and professional services sectors.  In his role as Wolf Chief Financial Officer he was responsible for the establishment of the Group's integrated finance function and has been instrumental in managing all elements of the Company’s equity financings, managing relationships with off-takers as well as co-ordinating and managing the Company’s debt.

Prior to working at Wolf Minerals, Mr Lucas reached Director level at PwC and was seconded to Lihir Gold as Commercial Manager where he managed the accounting and finance function. He was more recently with the Geotech Group as Chief Financial Officer.

Ronald (Ronnie) Beevor

Ronald (Ronnie) Beevor

Independent Non Executive Director

(Joined the Board of Wolf Minerals in September 2013)

Mr Beevor has more than 30 years’ experience in investment banking, including being the Head of Investment Banking at NM Rothschild & Sons (Australia) Limited between 1997 and 2002.

During his career, Mr Beevor has had an extensive involvement in the natural resources industry, both in Australia and internationally. He has significant experience working with companies transitioning from exploration and development to construction and production.

Mr Beevor qualified as a chartered accountant in London and is Chairman of the Company’s Audit Risk and Compliance Committee and its Remuneration Committee and a member of its Nomination Committee.

Mr Beevor is currently Non-executive Chairman of Bannerman Resources Limited, a Director of ASX listed mineral sands company, MZI Resources Ltd and a Director of Riversdale Resources Limited, an unlisted public company.

Nick Clarke

Nick Clarke

Independent Non Executive Director

(Joined the Board of Wolf Minerals in January 2014)

Mr Clarke has more than 40 years of mining experience in production, consulting and corporate activity.

Mr Clarke is currently the CEO of AIM listed Central Asia Metals Plc a copper producing company with assets in Kazakhstan, Mongolia and Chile. He was previously Managing Director of Oriel Resources Plc (AIM), until it was sold to Mechel OAO of Russia for US$1.5 billion in 2008.

From 1992-2004, Mr Clarke was the Managing Director of international mineral consultancy Wardell Armstrong International Ltd, where he managed numerous multidisciplinary mining projects in the CIS and Africa. Prior to this he spent 16 years in production management within South Africa, Ghana, and Saudi Arabia.

Mr Clarke graduated from Camborne School of Mines as a mining engineer and is a Chartered Engineer.

Chris Corbett

Chris Corbett

Non Executive Director

(Joined the Board of Wolf Minerals in October 2009)

Mr Corbett has more than 18 years’ experience in mining, corporate business development and investment management.

He is currently employed by Resource Capital Fund, having gained prior experience in mine development, production and construction with contractor Byrnecut Mining Pty Ltd and corporate and divisional business development roles with Wesfarmers Limited.

Mr Corbett is a member of Engineers Australia and the Australian Institute of Company Directors and is a Director of ASX listed Ascot Resources Limited.

He is a graduate of the University of Western Australia with degrees in engineering and commerce, and postgraduate qualifications in mining and applied finance.

Don Newport

Don Newport

Independent Non Executive Director

(Joined the Board of Wolf Minerals in June 2009)

Mr Newport brings a wealth of mining project finance experience to the company.

He is based in the UK and has over 35 years of banking experience, of which 25 years have been spent in the mining and resource sector.

Mr Newport retired at the end of 2008 as the head of Standard Bank's Global Mining Finance Business. Prior to moving to Standard Bank, he led the Barclays Capital Mining Sector Team. He has led or been closely associated with a number of significant mining corporate and project financings and has undertaken a variety of financial advisory roles.

Mr Newport is an Associate of the Chartered Institute of Bankers and holds a Certified Accountant's Diploma in Accounting and Finance.

Michael Wolley

Michael Wolley

Non Executive Director

(Joined the Board of Wolf Minerals in June 2013)

Mr Wolley has 15 years’ experience with Mobil Oil Australia in a range of roles including engineering, operations, strategic planning and business development in Australia and New Zealand. In 1995, he left Mobil to pursue opportunities in Asia Pacific and worked in a number of senior executive roles in the manufacturing and industrial sectors including a period as President, BlueScope Steel China.

In 2007, Mr Wolley returned to the resources sector as Chief Operating Officer for Lynas Corporation, and subsequently into the gold sector.

Mr Wolley currently holds the position of Vice President Minerals for the Todd Corporation. He is a a Deputy Chairman of BBI Group Ptd Ltd (formerly Rutila Resources) and sits on the Board of Strattera, the New Zealand minerals industry body.

He is a member of both the Australian and New Zealand Institutes of Company Directors.

Mr Wolley holds a first class honours degree in chemical and materials engineering from the University of Auckland, and a Masters of Management from Macquarie Graduate School of Management.

Executive Management

Calum Semple

Calum Semple

Chief Operating Officer, UK based

(Commenced 1 May 2017)

Mr Semple is a Chartered Engineer and an internationally recognised expert in assisting resource companies reach their full potential. He previously led PwC’s Mining global consulting practice and is a British national. He has recent and relevant experience in both tungsten and other commodities and has assisted companies implement process and productivity improvements at all stages including start-up, growth and turn-around phases.

He has worked with many of the world’s leading mining companies, completed initiatives focused on productivity improvement, cost reduction and risk mitigation in capital projects, mining, processing, asset management, procurement and back office functions at all stages of project maturity.

He joins Wolf to assist in the final production ramp up as well as further develop the operating platform with the aim of achieving reliable steady-state production.


Street Address

Drakelands Mine
Plymouth  PL7 5BS
United Kingdom

Phone Number+44 1752 393116
Email [email protected]
Email[email protected]


Postal Address

Wolf Minerals Limited 
Wolf Minerals  UK Limited
Drakelands Mine
Plymouth  PL7 5BS
United Kingdom05


Australian Registered Office

Wolf Minerals Limited
5/35 Havelock Street
West Perth
Western Australia 6005


As at 30 June 2017, so far as the company is aware, 80.09 per cent of the Company's total issued share capital is not in public hands (as defined in the AIM Rules for Companies).


Shareholders Number of Ordinary Shares Percentage of issued share capital
Total Issued Capital as at 30 June 2017         1,087,645,948  
Resource Capital Fund V  LP 337,669,237 31.05
Resource Capital Fund VI  LP 197,708,366 18.18
RCF V Annex Fund LP 74,326,454 6.83
RCF Management Pty Ltd

Total RCF & Affiliates 610,168,609 56.10
TTI (NZ) Limited 260,972,270 23.99
Traxys Projects LP 55,506,776 5.10
TOTAL 926,637,655 85.20


UK Nominated Adviser and Broker

Numis Securities Limited

10 Paternoster Square
London EC4M 7LT

UK Solicitors

Mayer Brown International LLP

201 Bishopsgate
London EC2M 3AF

Australian Solicitors

Steinepreis Paganin

Level 4, The Read Buildings
16 Milligan Street
Western Australia 6000

Competent Person

Cube Consulting Pty Ltd

Level 4
1111 Hay Street
West Perth
Western Australia 6005


PKF Mack & Co

Level 4, 35 Havelock Street
West Perth
Western Australia 6005

Public Relations

Newgate Communications

Sky Light City Tower         
50 Basinghall Street       
London EC2V 5DE
United Kingdom

Deborah Clark Associates

Aspect House
Unit 17 Callywith Gate
Launceston Road
Bodmin, Cornwall  PL31 2RQ
United Kingdom

Mandate Corporate

Level 26
1 Bligh Street
New South Wales  2000

Australian Registrars

Security Transfer Registrars Pty Ltd

770 Canning Hwy
Western Australia 6153

UK Depositary

Computershare Investor Services PLC

The Pavilions
Bridgwater Road
Bristol BS99 6Z