Tungsten Investing News spoke with Hunter Hillcoat, mining analyst with Investec Securities in London, regarding his coverage of Wolf Minerals Limited (ASX:WLF). Investec recently revised their buy rating price target for Wolf Minerals to 29.4p down from 31.6p.
As quoted in the interview:
TIN: Wolf Minerals seems to be rapidly moving towards production on their Hemerdon Mine in the south west of England. There aren’t a lot of exploration or mining development stories in the UK in general. Can you give us some context?
HH: No, not at all, and for obvious reasons. There’s strong competition here in the UK for land use. There’s very restrictive authorities and environmental authorities that prohibit or at least slow down the development of mining activities, and there’s a sense that anything that could have been done in the UK had already been done. The advantage Hemerdon has it that it was an existing project with an existing mine license, so Wolf didn’t have to jump through the numerous hurdles a new development project would face, which has made life a lot easier for them.
What is also encouraging for Hemerdon is that in the immediate vicinity of the project there are operating clay mines, so the local community is used to mining. It’s not virgin territory that the mine would be working from.