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.