Tungsten West plans IPO to raise funds to restart Hemerdon tungsten-tin mine
2021-10-14 13:35:34 [Print]
UK-based Tungsten West PLC, owner of the world-class Hemerdon tungsten-tin deposit in South Devon, plans to list on London's Alternative Investment Market on October 21.
The company plans to raise an unspecified amount of capital through the initial public offering to be used to restart production at the Hemerdon mine. Under its previous owners, the mine was operational between 2015 and 2018 before the project went into receivership.
Hemerdon is the world's third-largest tungsten mineral resource, with a JORC-compliant resource estimate of approximately 325 million tonnes at 0.12% tungsten trioxide and 0.03% tin.
The company plans to raise an unspecified amount of capital through the initial public offering to be used to restart production at the Hemerdon mine. Under its previous owners, the mine was operational between 2015 and 2018 before the project went into receivership.
Hemerdon is the world's third-largest tungsten mineral resource, with a JORC-compliant resource estimate of approximately 325 million tonnes at 0.12% tungsten trioxide and 0.03% tin.
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