Wolf Minerals Limited Update research from QuotedData
November 28 2016 - 7:56AM
RNS Non-Regulatory
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Wolf Minerals Limited
28 November 2016
Wolf Minerals - Update research from QuotedData
28(th) November 2016
24/7 operations approval boost
Wolf Minerals (Wolf) has received approval to operate its
processing plant on a 24/7 basis, permanently, and permission to
extend mining activities to 2036. Both permissions will have a
significant impact on future production at its Drakelands open-pit
mine, in Devon. The mine, which opened in September 2015, has
struggled to reach planned production rates, owing to low plant
recoveries caused by finer than expected ore and mechanical
failures in the plant. In addition, cashflow has been affected
negatively by continuing low tungsten prices on the world
markets.
We visited the mine in November. Management believe that Wolf is
resolving its problems in the plant. A trend of increasing
quarterly ore throughput and wolfram production might support this,
although performance is still below feasibility study levels.
Management acknowledge that their key challenge is to improve plant
recoveries.
Full research:
http://quoteddata.com/2016/11/wolf-minerals-247-operations-approval-boost/
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NB: this note has been prepared for Wolf Minerals Limited by
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