Wolf Minerals Awards £85 Million Mining Services Contract

 Wolf Minerals Limited (ASX:WLF) awarded an £85 million Mining Services Contract to CA Blackwell (Contracts) Limited, for the development of the Hemerdon project in Australia.

As quoted in the press release:

The Contract is made up of two parts

• Phase 1, Mining pre-strip and Mine development,
• Phase 2, Mine production.

The Contract term for phase one is 11 months from the commencement date, followed by phase 2 which has a five year term from completion of phase 1 work.

The Contract pricing provided by Blackwell confirms the strength of the base case financial model and compares very well with the Definitive Feasibility Study (DFS) estimate of £85.5 million (A$141 million1) announced in May 2011.

Wolf Minerals Limited Managing Director, Humphrey Hale, said:

Wolf is delighted to have had such a good response to the mining tender and is pleased to be working with CA Blackwell. This is another milestone for Wolf and a headline mining project for Britain.

Click here to read the Wolf Minerals Limited (ASX:WLF) press release
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