Tungsten West plc has started small scale production of legacy tin and tungsten from its partially recommissioned mineral processing facility (MPF) at Hemerdon in Devon. LEGACY ASSETS REVENUE The material and a limited amount of residual material remaining in circuit, totalling just over 50 tonnes, was processed in the recommissioned dry section of the MPF’s […]
Tag: tin – tungsten Hemerdon mine – Devon
Tungsten West expects to cut jobs by 42%
Tungsten West plc said it expected to reduce its workforce by 42% as part of cost cutting measures at Hemerdon tin-tungsten mine in Devon. SAVINGS The company forecasts redundancies and resignations will meet the targets in its nearly completed cost reduction programme which began in April 2023. “Monthly recurring payroll costs are expected to reduce […]
Tungsten West starts open offer
Tungsten West plc has today started an open offer to raise up to £2 million for costs at the Hemerdon tin-tungsten mine in Devon. TRANCHES The open offer is at an issue price of 3 pence per new ordinary share, with up to 66,666,666 new ordinary shares offered to existing shareholders. The company also confirmed […]
Tungsten West managing director James McFarlane resigns
Tungsten West plc’s managing director James McFarlane has resigned with immediate effect to return to consultancy work. Mr McFarlane was formerly mining technical services manager at Hemerdon, under previous owners Wolf Minerals. He re-joined the operation for Tungsten West as technical and operations director before being promoted to managing director in February 2022. Mr McFarlane […]
Tungsten West raises £6.95m via CLNs
Tungsten West plc has raised £6.95 million from placing convertible loan notes (CLNs) as part of its fundraise of up to £9m for Hemerdon tin-tungsten mine in Devon. LIABILITIES The company said that the conditional placing with investors was oversubscribed. Tungsten West still has to hold an open offer to raise up to a further […]
Tungsten West to raise up to £9m as cost cutting starts
Tungsten West plc has started “major” cost cutting alongside up to a £9 million fundraise to meet “contractual liabilities” and pay for “significant annual expenditure” at its Hemerdon tin-tungsten mine in Devon. NEW DEBT The company aims to raise a minimum of £5m and up to £6.95m through a placing, not underwritten, of convertible loan […]