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.

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

Recommended

Why it pays to face up to your investment mistakes
Investment strategy

Why it pays to face up to your investment mistakes

Buying stocks can be a complicated business. But selling stocks can be tricky, too – even if you sell for the right reasons. Max King explains how to …
17 Sep 2021
Share tips of the week – 17 September
Share tips

Share tips of the week – 17 September

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
17 Sep 2021
Royal Mail will deliver for investors – here's how to play it
Trading

Royal Mail will deliver for investors – here's how to play it

Royal Mail Group has found its feet in the past 18 months and looks cheap. Matthew Partridge looks at how to trade the shares.
14 Sep 2021
The times may be changing, but don’t change how you invest
Small cap stocks

The times may be changing, but don’t change how you invest

We are living in strange times. But the basics of investing remain the same: buy fairly-priced stocks that can provide an income. And there are few be…
13 Sep 2021

Most Popular

The times may be changing, but don’t change how you invest
Small cap stocks

The times may be changing, but don’t change how you invest

We are living in strange times. But the basics of investing remain the same: buy fairly-priced stocks that can provide an income. And there are few be…
13 Sep 2021
Two shipping funds to buy for steady income
Investment trusts

Two shipping funds to buy for steady income

Returns from owning ships are volatile, but these two investment trusts are trying to make the sector less risky.
7 Sep 2021
How to stop recurring subscriptions becoming a drain on your money
Personal finance

How to stop recurring subscriptions becoming a drain on your money

Tracking and pruning subscriptions isn’t as easy as it sounds. Here's how to take charge.
14 Sep 2021