Wolf Minerals was incorporated in September 2006 as a metals exploration and development company. In February 2007, the company commenced trading on the ASX and was the best performing IPO on the ASX that year.
In December 2007, Wolf Minerals signed an option agreement for the mineral rights and the rights to mine Drakelands Mine, which is part of the Hemerdon tungsten and tin project. The option was exercised in February 2014. The project, located near Plymouth in the south-west UK county of Devon, is the company’s core asset. Wolf Minerals’ Definitive Feasibility Study in 2011 confirmed the project’s development potential as a major, new global tungsten supply.
Wolf Minerals has since secured the debt and equity funding required to construct the project and bring it into production. The company has off-take agreements in place for the project’s tungsten output.
The project’s construction phase commenced in February 2014 and production is scheduled to commence by Q3 2015.