Tungsten West plc said it needed to find sufficient funds for the near future to avoid having to reassess the restart of Hemerdon tin-tungsten mine in Devon. FUNDING OPTIONS In August 2022, the company said it was in discussions for additional funds after its revised plans failed to meet the $49 million loan terms from […]
Tag: tin – tungsten Hemerdon mine – Devon
Tungsten West increases ORE and MRE at Hemerdon
Tungsten West plc published an increase in JORC (2012) compliant ore reserve estimate (ORE) and internal mineral resource estimate (MRE) at its Hemerdon tungsten and tin deposit in Devon. ORE RESERVE ESTIMATE The company reported a 60% increase in ore tonnage and 10% increase in contained metal from previous 2021 ORE. Tungsten West said that the […]
Tungsten West granted key permits for Hemerdon
Tungsten West plc has received two of four permits required to allow the restart of the tin-tungsten Hemerdon mine project in Devon. PERMITS The Environment Agency granted the mining waste facility permit and the open pit water abstraction licence. The company said it expected to receive in early 2023 two further abstraction permits. A renewed […]
Tungsten West spending and losses rise
Tungsten West plc recorded a loss of £5.1 million and increased spending to £6.4m during the first half of 2022 at its Hemerdon tin-tungsten project near Plymouth in Devon. EXPECTATIONS The group’s H1 results for the six months ended 30 September 2022 were marked by the departure of co-founder and chief executive Max Denning and […]
Tungsten West chairman Robert Ashley retires
Tungsten West plc chairman Robert Ashley has retired with immediate effect. He is replaced by David Cather. Mr Ashley joined the company in September 2021 and led it through its initial public offering. “On behalf of the board and the company, I would like to thank Rob for his considerable efforts in our journey to […]
Tungsten West remaining capex below forecast
Tungsten West plc said that the estimated remaining capital expenditure of £31.5 million was “significantly below” the previous forecast for restarting production at the Hemerdon tin-tungsten mine in Devon. BUDGET The company added that the figure, which excludes a 20% contingency of £6.3m, is less than that projected when the company paused the project in […]