Aggregates West Ltd has appointed Neil Gawthorpe as a director effective on 23 May 2023. The chief executive officer of parent company Tungsten West plc has also been appointed a director at Tungsten West Services Ltd. On 6 May, co-founder and former Tungsten West executive chairman Mark Thompson resigned from Aggregates West and ceased to […]
Tag: Tungsten West plc
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 co-founder-chairman Mark Thompson leaves
Tungsten West plc’s executive vice chairman Mark Thompson has left the company, as previously intended. Mr Thompson established the company with former chief executive officer Max Denning who left the company last year. Non-executive chairman David Cather said: “Mark was one of the founding directors of Tungsten West and on behalf of the board and […]
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 […]