Business
Interim Tungsten and Tin Production
Interim Tungsten and Tin Production.
About this update from Tungsten West Plc
[{"type":"text","content":"\n\n2 June 2023\nTungsten West Plc\n(\"Tungsten West\", the \"Company\" or the \"Group\")\n \nProject Update\nInterim Tungsten and Tin Production\n \nTungsten West (LON: TUN), the mining company focussed on restarting operations at the Hemerdon tungsten and tin mine (\"Hemerdon\" or the \"Project\") in Devon, UK, is pleased to announce that it has now completed processing of its legacy tungsten pre-concentrate and tin concentrate through commissioning of the refinery portion of its Mineral Processing Facility (\"MPF\"), thereby facilitating the future recommencement of tungsten and tin production at Hemerdon. This commissioning work was undertaken with the requisite temporary environmental permit from South Hams District Council, where Tungsten West has successfully recommissioned the dry section of the refinery within the Hemerdon MPF, with zero safety or environmental incidents.\n \nAs part of this recommissioning work, the Company has processed legacy tungsten pre-concentrate and tin concentrate, as well as a limited amount of residual material remaining in circuit since the historical closure of the previous operation, totalling just over 50 tonnes. As a result, combined with other legacy material that does not require re-processing, Tungsten West has generated four lots of material for sale, two of tungsten concentrate and two of tin concentrate. This material was shipped to an off-taker on 31 May 2023.\n \nThese activities form part of the Company's plan in continuing to move towards future regular production, liquidating assets left by the previous operator and making use of past materials which have already been crushed and separated. Management forecasts more than £0.4 million in revenue from these operations, which have also provided valuable insight into the future operating parameters for the crucial ore dressing stage of the beneficiation process.\n \nThe cost reduction programme initiated by management is nearing completion. On its conclusion, management forecast a 42% reduction in headcount via redundancy and resignations.\nMonthly recurring payroll costs are expected to reduce by 42% in line with the reduction in headcount. The one-off cost associated with the cost reduction programme is forecast to be minimal and mostly comprised of contractor project suspension fees.\n...