I see wolf minerals are feeling the heat for funding

As I understand it they have had problems producing a good concentrate, their feed(I am told is too clayey), and this is stoping them achieving good pay dirt.
Will be interesting to see if any other Mining Co is prepared to ‘have ago’.

Share trading on the Australia exchange has been suspended for while, this is latest update from their website:

9 October 2018
Funding position update
Specialty metals producer, Wolf Minerals Limited (ASX: WLF, AIM: WLFE) (Wolf or the Company) refers to
its recent announcements in relation to its financing arrangements and the standstill arrangements with
the Company's existing senior lenders.
As announced on 30 July 2018, the Company has been working with its key financial stakeholders to
develop longer term funding solutions required to provide the Company with capital prior to the expiry of
the standstill period on 28 October 2018, to progress further production improvements.
The Company's discussions with those stakeholders are ongoing and the Company expects to conclude
those discussions this week, following which a further announcement will be made. However, should the
Company not be able to satisfactorily conclude its discussions with those stakeholders within the next
two days, it will not be in a position to meet its short term working capital requirements after that point
in time.
The Company’s shares remain suspended from trading on ASX in accordance with ASX Listing Rule 17.2
pending the release of an announcement regarding finalisation of its audited annual financial statements
and Annual Report for the year ended 30 June 2018.
ENDS

---

I thought it was more about finance and investor confidence than the state of the mineral processing circuit. After all froth flotation can take care of clay from kaolinised granite. 🙂

I heard from some mineral processing beards on site that they were having problem with their primary crusher (gyratory?) clogging up.

Primary crusher is not gyratory, its a roll design, basically a pair of counter rotating drums with hard steel teeth, in fact the primary circuit is two of these machines in series. Name your beards (if you want to) I doubt they were still on site in the run up to this happening.

[photo]116219[/photo]

[photo]116220[/photo]

I heard it was the separation of tin from the tungsten that is the problem... something to do with the floatation process...

Correct me if I'm wrong please... and let us know what the problems are there to save any further speculation... thanks.

I believe Ernest Terrell had the right process with magnetic separation all those years back...

Regards Tin Miner

Feel free to speculate all you want, the main issue I know was off-spec (not sellable) product, I have a fair idea why.
I'm not a metallurgist though, there could be multiple contributory causes for that.

I will say the plant only has 3 floatation cells, you can take from that how important it is to the process.
Mag sep plays a big part though, there is a whole section devoted to that.

I just had an interesting chat with someone who works for the US company run by Aussies that owns the mine, the reason I was given for stopping the project is purely financial. Cap investment v return... the lender decided they had spent too much already (on development) and pulled the plug, not unique in the history of mining. I understand that the owners were confident that the mine was looking in good shape and like it would be productive. Anyway amazing who you bump in to at parties.

The liquidator wanted final offers for the mine on the 9th November, no news of any offers yet, which is actually encouraging as if there were no offers it would have been announced by now.

Interesting comments from somersetminer regarding the plant layout, a couple of things: -

1. There is a lack of flotation cells as it is an oxide ore body, the flotation cells would be used to strip sulphides like arsenopyrite.

2. There is a lot of magnetic separation for two reasons, the first (And most prolific use) to recover the DMS medium, for recycling and the 2nd for separation of the tin from the tungsten.

Interesting comments from somersetminer regarding the plant layout, a couple of things: -

1. There is a lack of flotation cells as it is an oxide ore body, the flotation cells would be used to strip sulphides like arsenopyrite.

2. There is a lot of magnetic separation for two reasons, the first (And most prolific use) to recover the DMS medium, for recycling and the 2nd for separation of the tin from the tungsten.

Exactly right, the floatation circuit was included to deal with arsenopyrite, which was not even present in the concentrations they predicted for the first year of operation, the cells were not brought into use until quite recently.

You seem to be confusing the Eriez drum magnets with the magnetic separation circuit in concentrate blending/bagging section, understandable if you've not been in the plant.

The liquidator wanted final offers for the mine on the 9th November, no news of any offers yet, which is actually encouraging as if there were no offers it would have been announced by now.

Any further news? I read that the workforce were laid off back in early october (Plymouth Herald) but I tend to take newspaper reports with a large pinch etc

Yeah theres a Russian Investor currently negotiating the purchase of the mine.

That wouldn't be abramovich by any chance! 🙂

Any further news? I read that the workforce were laid off back in early october (Plymouth Herald) but I tend to take newspaper reports with a large pinch etc

Wisest thing to do! there has been lots of talk about a Russian interest but whether it'll actually come to anything is another thing