Tungsten West plc has published a revised feasibility study to restart its Hemerdon tungsten-tin mine near Plympton, northeast of Plymouth in Devon.
FUNDRAISING
The FS includes the quantity of ore reserves within the open pit of 35.6 million tonnes of granite at an average grade of 0.18% tungsten trioxide and 0.03% tin, and 35Mt of killas at an average grade of 0.11% tungsten trioxide and 0.03% tin.
Mining will be via “open pit-drill-blast-load-haul” operations, with a fleet of 200t excavators and 90t trucks.
The company will haul granite ore to the run-of-mine pad, mineralised killas to the stockpiles and waste to the mining waste facility.
The processing plant is designed for 3.5m tonnes per annum of primary feed and 1.8m tpa for the concentrator.
Operating costs for the first year will be in total US$64.4m followed by years two and three at $68m and $69.5m, respectively.
Mining from open pit will run from years one to 11, processing the killas stockpiles from years 12 to 15, and aggregates production will continue from years 16 to 27 or until the licence expires.
“The conclusion of this feasibility study marks a highly significant milestone for Tungsten West as we now formally commence our fundraising efforts,” said chief executive officer Jeff Court.
“The study further emphasises the strong economics of the project, fully supported by its strong technical, environmental, community and stakeholder facets.
“The study also further underlines Hemerdon’s global critical minerals supply credentials.”
On 2 July, Tungsten West converted tranche H of its 2023 convertible loan note for £4.3m.
The total amount outstanding under the CLNs, including interest accrued to 1 July 2025, is approximately £29.2m.
The CLNs mature on 31 December 2025.