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https://www.argusmedia.com/en/news/2110188-qa-tungsten-west-plans-hemerdon-mine-restart-for-2021
https://www.plymouthherald.co.uk/news/plymouth-news/new-owner-plymouths-tungsten-mine-3637517
"1 share issued for every 250 held." Where do you get this info? [And sorry, I can't tell you a single thing about what is going on!]
1 share issued for every 250 held. Something going on. The mine has been sold. Does anyone know what is happening?
https://www.plymouthherald.co.uk/news/plymouth-news/plymouths-tungsten-mine-could-reopen-3610993
Wolf Minerals (WLFE LN) SUSPENDED – Liquidators selling spirals from Drakelands • The announcement today by W Resources included the information that the liquidators of Wolf Minerals had sold 72 spirals from the mothballed Drakelands mine in Devon.
• It is unclear whether all of the spirals from Drakelands have been sold or whether some remain on site but their disposal suggests that efforts to reopen the mine under new ownership are proving difficult.
• In our opinion, as long as the principal items of the crushing and grinding circuit remain on site, the re-opening of Drakelands remains relatively achievable as spirals should be comparatively inexpensive and straightforward to replace. However, with the current price of the benchmark ammonium paratungstate price languishing at levels last seen in early 2017, potential purchasers may be few and far between – or may simply be taking a hard-headed view of the acquisition price.
• In addition to the continuing difficulties at Drakelands, yesterday’s news of the setback to funding the Sirius Minerals project in Yorkshire casts a further shadow over hopes of a resurgence in the UK mining industry.
SP Angel posted on #WLFE ****************************/activity/154694
https://www.plymouthherald.co.uk/news/plymouth-news/familys-tribute-popular-dad-five-2804246
https://www.plymouthherald.co.uk/news/plymouth-news/inquest-man-who-died-month-2794511
I see Hargreaves made an £8.1million loss when Wolf went under.
Hargreaves took over the mine site this morning the few wolf staff except 1 were made redundant
Unfortunately I don't believe there is any hope here.
I live very close to the mine and everyone I have spoken to that was involved with the mine is of the opinion that this is dead for the time being.
Time will tell!
Just been trying to update myself, but it’s not clear whether Pala are proceeding or not. Is the entire project a total car crash? Can anyone help me out? Scouring through previous company reports and speaking to folk close to the evolution of the project, it’s clear that our Aussie friends made some glaring errors and consequently failed dismally. That doesn’t help shareholders much, I know. Just so that you know, I’ve spent many years in the mining business. It would be useful to know the current starting point from a shareholders point of view.
ann available via ASX
extract
""The consolidation of the Company's existing shares on a 1:250 basis (to be conducted on
implementation of the DOCA).
? The issue of 80m shares at an issue price of $0.01 plus 5 free attaching options per share, in
each case on a post-consolidation basis, to the Proponent (to be conducted on implementation
of the DOCA).
? The issue of 80m shares at an issue price of $0.01 to sophisticated or professional investors
identified or introduced by the Proponent (to be conducted within three months of shareholder
approval)""
atb cat
https://www.plymouthherald.co.uk/news/plymouth-news/huge-load-sparks-delays-a38-2462780
I have heard from a good source that there is buyer for the mine. Not sure what that will mean for current wolf share holder's though. Witnessed big CAT dumpers being removed from the site a couple of weeks back.
Content not available. Website suspended.
the shareholders of the Company providing such approvals
("Shareholder Approvals") as may be required pursuant to the Act
and/or the ASX Listing Rules for:
1.. a consolidation of the existing securities of the Company on
a 1 for 250 basis (which will result in the Company having
4,363,521 fully paid ordinary shares ("Shares") on issue
immediately post-consolidation and prior to the further
transactions referred to below) (to be conducted immediately
following Implementation) ("Consolidation");
2. an issue of up to 80,000,000 Shares at an issue price of
$0.01 per Share to the Proponent and/or its nominees,
together with five free attaching options for each Share
issued (on a post-Consolidation basis) exercisable at $0.01
on or before the date which is four years post their issue (to
be conducted immediately following Implementation)
("Proponent Issue"); and
3. an issue of up to 80,000,000 Shares at an issue price of
$0.01 per Share (on a post-Consolidation basis) to
sophisticated or professional investors identified or
introduced by the Proponent (to be conducted within three
months of the shareholder approval);
http://www.mining.com/development-scotlands-first-commercial-gold-mine-gets-going/
This adds that "Industry sources have suggested at least two other parties are keen on restarting mining at Hemerdon".
https://russiabusinesstoday.com/energy/russia-oligarch-wants-to-reopen-british-tungsten-mine/
Whoever it might be, whatever he might pay: 100% of the sum will go towards creditors and nothing will be distributed to shareholders. The purchase price will be WAYYY below outstanding debt. Over the course of 3 years one thing has been established: This mine's output is WAYYY below specs thus cannot be run profitably. Neither at APT 200, 300, nor 400. Who on earth is supposed to bid big money for a dog like this?
Does anyone have any more info about this backer.
Benefit system unfortunately creates creatures like Tele******. Hey-ho ... FYI I think Wolf may have found a backer so watch this space
how much income tax does she pay ?