28 Nov 2016 12:56
Wolf Minerals - Update research from QuotedData
28th November 2016
24/7 operations approval boost
Wolf Minerals (Wolf) has received approval to operate its processing plant on a 24/7 basis, permanently, and permission to extend mining activities to 2036. Both permissions will have a significant impact on future production at its Drakelands open-pit mine, in Devon. The mine, which opened in September 2015, has struggled to reach planned production rates, owing to low plant recoveries caused by finer than expected ore and mechanical failures in the plant. In addition, cashflow has been affected negatively by continuing low tungsten prices on the world markets.
We visited the mine in November. Management believe that Wolf is resolving its problems in the plant. A trend of increasing quarterly ore throughput and wolfram production might support this, although performance is still below feasibility study levels. Management acknowledge that their key challenge is to improve plant recoveries.
Full research:
http://quoteddata.com/2016/11/wolf-minerals-247-operations-approval-boost/
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