September 07, 2008

Wolf advances on Hemerdon project

It is reported that ASX listed Wolf Minerals has commissioned several companies to update information on the Hemerdon Ball tungsten tin project in Devon, UK with the aim of bringing the mine into production “as soon as possible”.

A new JORC compliant resource estimate will be published next month and the old feasibility study produced by previous owners in 1982 is being updated.

At initially projected annual production rates of 3,000 tonnes per year of tungsten and 500 tonnes per year of tin the mine would generate gross revenues of USD 83 million annually at current prices, with 90% of the revenue from tungsten.

Wolf acquired the project in December 2007, stating that it expected to start up a large scale open pit mining operation within three years.