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Planning permission extension 'really opens up opportunities' for Wolf Minerals

Devon-based tungsten and tin miner Wolf Minerals Limited (LON:WLFE) has received a double boost with a planning permission extension and approval to work 24/7 at the Drakelands mine’s processing plant.

Managing Director Russell Clark tells Proactive: This really opens up the opportunity of that operation to increase its production by 20-25% ... so instead of producing 3,500 tonnes/year of tungsten maybe we can produce 4,000.''

''It's been a very busy year. We had to refinance the company in the middle of the year with a £25 mln injection. Tungsten prices haven't gone up  as we'd hoped but we remain confident they will and we had to do another refinancing very recently - so we've injected another £20 mln of equity''.

Quick facts: Wolf Minerals Limited

Price: 0.035 AUD

ASX:WLF
Market: ASX
Market Cap: $38.18 m
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Demise of Wolf Minerals Ltd 'a blow for UK mining' - Alastair Ford

Mining Capital's Alastair Ford discusses the collapse this week of Wolf Minerals Limited (LON:WLFE) (ASX:WLF). Ford says what really did it for Wolf was simply that the economics of production at Hemerdon never really stacked up. He adds that its major investor RCF will now be staring...

on 12/10/18

2 min read