Speciality metals group operating a major global tungsten production hub in Devon UK: Wolf Minerals

Wolf Minerals is an ASX (WLF) and AIM (WLFE) listed specialty metals producer from its operations at Drakelands, a major global tungsten mine in the United Kingdom's southwest. The Drakelands Mine at the Hemerdon Tungsten and Tin Project has one of the Western world's largest tungsten and tin resources and provides a secure supply of tungsten for a global customer base.

Wolf is led by an experienced management team of British and Australian mining professionals and more than 200 people are permanently employed on site. The tungsten produced by Wolf is critical to a range of industrial, mining and agricultural applications and key uses are in cemented carbides, steel alloys, metal products, lighting, drill bits and jewellery.

Genesis of Wolf Minerals

The company 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 one, 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 current JORC resources and reserves. In addition a pilot plant was constructed, which treated 6,500 tons of ore, the flow sheet of which has been used as input to the current flow sheet.

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.

Sustainability

Wolf Minerals believes that long-term success hinges on sustainable development that benefits the business, stakeholders and the environment. To this end, Wolf has adopted a policy of responsible, proactive environmental management and works hard to ensure compliance with relevant legislative obligations in the course of any production or development activity.

The Company remains committed to delivering excellent results for shareholders while at the same time ensuring that its economic success is balanced alongside its environmental and social responsibilities. Wolf appreciates the importance of community consultation and facilitates the involvement and awareness of relevant communities and their representatives when undertaking any exploration or development activity.

Through a proactive policy of self-regulation, legislative compliance and community involvement, Wolf is working hard to deliver on its short and long-term business objectives while ensuring that relevant social and environmental considerations are included as part of any decision-making process. Wolf Minerals will continue its policy of sustainable development in the interests of meeting the expectations of its shareholders without compromising the health or vitality of both the natural and social environment. Wolf Minerals received ISO14001 certification for its environmental management systems in 2015.

Meet the Leadership Team

Calum Semple, CEO, UK based: Semple is a Chartered Engineer and an internationally recognized expert in assisting resource companies reach their full potential. He previously led PwC’s mining global consulting practice and is a British national. He has recent and relevant experience in both tungsten and other commodities and has assisted companies implement process and productivity improvements at all stages including start-up, growth and turn-around phases. He has worked with many of the world’s leading mining companies, completed initiatives focused on productivity improvement, cost reduction and risk mitigation in capital projects, mining, processing, asset management, procurement and back office functions at all stages of project maturity. He joins Wolf to assist in the final production ramp up as well as further develop the operating platform with the aim of achieving reliable steady-state production.

John Hopkins OAM, Independent Non-Executive Chairman: Hopkins has been a board member or chairman of nearly 20 public listed companies across Australia and Canada since 1985. Many of these positions have seen him involved in the financing and development of gold, base metal, energy, mineral sands and other resource projects in Australia and overseas. Hopkins is currently the Chairman of Universal Coal Plc Company. Hopkins is a professional company director and chairman and is a graduate in law of the University of Western Australia. He has been admitted to practice as a barrister and solicitor for more than 40 years. Hopkins was awarded the Medal of the Order of Australia (OAM) in January 2015 for services to the minerals and resources sect.

"Wolf is committed to display leadership in health, safety and sustainable development and is working proactively to manage our impact on the environment."