Wolf Minerals Limited Wolf Minerals Awards Power Supply Contract (2556B)
06 January 2015 - 6:00PM
UK Regulatory
TIDMWLFE
RNS Number : 2556B
Wolf Minerals Limited
06 January 2015
6 January 2015
Wolf Minerals Limited
Wolf Minerals Awards Power Supply Contract
DONG Energy to provide power supply to Hemerdon Tungsten-Tin
Project
Specialty metals development company, Wolf Minerals Limited
(ASX: WLF, AIM: WLFE) ("Wolf" or "the Company") is pleased to
announce that it has finalised and awarded the power supply
contract for its Drakelands open pit mine ("Drakelands") currently
being constructed at the Company's world class Hemerdon tungsten
and tin project ("the Project") in Devon, in southwest England.
Following a tender process conducted by The Energy Services
Partnership Ltd, DONG Energy has been awarded the contract to
supply grid power to the Drakelands mine.
Under the terms of the contract DONG Energy will supply a
projected 82GWh to the operation for a three year period. The
forecast power prices are in line with estimates contained in the
Definitive Feasibility Study ("DFS").
DONG Energy is 59% owned by the Danish Government and its UK
businesses include offshore wind power, exploration and the
production of oil and gas. It is the third largest gas supplier to
the UK's industrial and commercial market with a 12% market share.
Already supplying over a terawatt of power, DONG Energy is looking
to grow and establish its position in the UK power market.
Commenting on the power contract, Wolf Managing Director, Mr
Russell Clark, said:
"As we continue to build the mine and processing plant at
Drakelands, it's very pleasing to be able to lock in a power
contract at rates similar to those used in the DFS, which will
contribute to Wolf being a low cost producer of tungsten."
ENDS
For further details, please contact:
Wolf Minerals Limited +61 8 6364 3776
Russell Clark admin@wolfminerals.com.au
Numis Securities
John Prior/James Black/Paul Gillam +44(0)20 7260 1000
Newgate Threadneedle
Tim Thompson / Adam Lloyd / Ed Treadwell +44 (0) 20 7653 9850
Promotion and Marketing
The Company's web site has time lapse photography showing both
the processing plant site and mine site which can be seen at:
http://www.wolfminerals.com.au/hemerdon-tungsten-and-tin-project/live-stream
This information is provided by RNS
The company news service from the London Stock Exchange
END
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