Advertisement

Wolf Minerals awards 75m pound contract to GR Engineering Services

AIM-listed mining company Wolf Minerals has been awarded a 75m pound Engineer Procure Construct contract for the Hemerdon tungsten and tin project to GR Engineering Services.

AIM-listed mining company Wolf Minerals has been awarded a 75m pound Engineer Procure Construct contract for the Hemerdon tungsten and tin project to GR Engineering Services.

The fixed price, fixed term Engineer Procure Construct contract is for the design, construction and commissioning of a 3.0m tonne per annum (tpa) tungsten and tin mineral processing plant as well as associated infrastructure, forming the key component of the Hemerdon project.

Advertisement - Article continues below

The EPC contract with GR Engineering compares very well with the definitive feasibility study (DFS) estimate announced in May 2011, which allowed £77m (A$114m) for the contract scope.

Commenting on the contract award, Wolf Minerals Managing Director, Humphrey Hale said: "Wolf is very pleased to continue working with GR Engineering to develop the Hemerdon Project as we have established a good working relationship over the past three years. This is a major achievement for the project team as the Engineer Procure Construct contract was tendered to the market and this result is in line with the Definitive Feasibility Study estimate announced in May 2011."

Wolf Minerals' share price was up 11.11% to 22.50p at 12:44 on Wednesday.

MF

Advertisement
Advertisement

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

How “support” and “resistance” can help you spot trading opportunities
Sponsored

How “support” and “resistance” can help you spot trading opportunities

Technical analysis can help traders manage risk and decide where to enter and exit a trade. One simple form of technical analysis is the concept of “s…
6 Jul 2020
House price crash: UK property prices are falling – so where next?
Property

House price crash: UK property prices are falling – so where next?

With UK property prices falling for the first time in eight years, are we about to see a house price crash? John Stepek looks at what’s behind the sli…
2 Jul 2020
An economics lesson from my barber
Inflation

An economics lesson from my barber

On reopening his shop after lockdown, Dominic Frisby’s barber doubled his prices. It’s all part of the post-Covid inflation process – and we’re going …
8 Jul 2020