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.
Tungsten was first discovered at Drakelands in the 1860s. It was not developed until World War 1 when an extensive wolframite deposit was outlined. Tungsten alloys were required to produce armaments, and commercial production continued sporadically until the end of World War 2.
In the 1980's Amax held the project and drilled out the resource which has resulted in the currrent JORC resources and reserves. In addition a pilot plant was constructed, which treated 6,500 tonnes of ore, the flowsheet of which has been used as input to the current flowsheet.
In December 2007, Wolf Minerals signed an option agreement for the mineral rights at the Drakelands Mine. 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.
Since 2007 the Company has worked to prove the viability of the Drakelands Mine through completion of a Definitive Feasibility Study in 2011; obtaining equity and debt financing; and construction of the mine, plant and associated infrastructure.
Construction of the Drakelands Mine began on site in March 2014 and was completed on schedule in June 2015, with deliveries to customers commencing in September 2015.