WLFE says Drakelands mine planning permission extended

Wolf Minerals Ltd said Devon County Council (DCC) has approved the extension of the planning permission at the company's Drakelands open-pit mine to 2036 and approved permanent 24-hour operations, seven days a week at the processing plant.

HIGHLIGHTS:

- Planning permission for Drakelands mine extended from 2021 to 2036.

- Processing plant now permitted to operate 24/7, providing potential to lift tungsten and tin production by 20%.

- Debt restructure effective, tenor of the Senior Debt extended until June 2023.