Specialty metals development company, Wolf Minerals Limited (ASX: WLF, AIM: WLFE) (“Wolf”, “the Company”) is pleased to provide the following update on the Hemerdon tungsten and tin project (“Hemerdon” or “the Project”) in Devon, UK, for the three month period to 30 June 2014.
Highlights from the June 2014 Quarter include:
Hemerdon
- Successful completion of ~A$182.7 million Fundraise and Share Purchase Plan to finalise funding of the Project through to positive cash flow.
- Construction progressing well - on track and on budget. Site clearing and haul road completed with structural concrete placement well advanced.
- Development expenditure of A$24.9 million for the quarter.
- Drilling of six diamond drill holes to provide geotechnical information to review pit slopes with intention to steepen slopes and increase ore reserves underway.
