Lucas, who formerly was chief financial officer at Geotech Group, joined the AIM-listed specialty metals company in April 2011 as chief financial officer and secretary. In April 2017, he was appointed as the group's interim managing director to ensure the long term successful operation of the Drakelands mine.
Wolf Minerals Chairman John Hopkins said: "The board is delighted with the progress of Richard and his team over the last 12 months. We have the upmost confidence in Richard's leadership and look forward to his future contribution to the growth and the advancement of the company".
Wolf Minerals shares were down 11% at