Tungsten West plc is in discussions for additional funds after its revised plans failed to meet the $49 million loan terms from Orion Resource Partners for the Hemerdon tin-tungsten mine in Devon. FINANCES In its audited results for the year ended 31 March 2022, the company said that the agreed financing package through a royalty […]
Tag: tin – tungsten Hemerdon mine – Devon
Tungsten West co-founder and CEO Max Denning leaves
Tungsten West plc said that chief executive officer Max Denning will leave his role and the board with immediate effect. The company added that executive vice-chairman and co-founder Mark Thompson had assumed the responsibilities of CEO. Mr Thompson previously held senior management positions at commodity trader Trafigura and its investment division Galena Asset Management, global […]
Tungsten West pauses plan to review Hemerdon costs
Tungsten West plc said that rising inflation had prompted it to pause its development plan and evaluate other cost saving options for restarting Hemerdon tin-tungsten mine in Devon. SAVINGS Tungsten West added that any new plan would likely entail a lower capital cost for redevelopment, a reduced operating cost and production rate while retaining the […]
Tungsten West raises £283,600 via warrant exercise
Tungsten West plc has raised £283,600 after exercising 460,000 warrants to subscribe for new ordinary shares of a nominal value of one penny each. The subscription will be at a price of 25 pence per ordinary share, and an exercise of 648,400 warrants at a price of 26 pence per ordinary share.
Tungsten West starts replacement tree planting
Tungsten West plc has started replacement tree planting at its tin-tungsten Hemerdon mine in Devon. SPECIES Many of the trees planted over the past seven years have failed to grow above the protective tubes because deer ate the saplings Landscape contractor H2 Environmental has installed 2.5km of deer fencing and YGS Landscaping will plant 448 […]
Tungsten West breaks ground for XRT ore sorters
Tungsten West plc said it had broken ground for the installation of the x-ray transmission (XRT) ore sorters at its tin-tungsten mine at Hemerdon in Devon. PROCESSING PLANT Earlier this month, the company received long-lead equipment items, including the seven XRT ore sorters, ahead of the start of digging at the site on 17 March. […]