🔮 Better than the Oracle? Our Fair Value found this +42% bagger 5 months before Buffett bought itRead More

Tungsten West up 12% as mining restarts in Devon

Published 02/06/2023, 09:57
© Reuters Tungsten West up 12% as mining restarts in Devon
TUNT
-

Proactive Investors - Tungsten West PLC (LON:TUNT) jumped 12% to 3.5p as the junior said it had partially restarted the Hemerdon mine near Plymouth.

Unusual for the fact that was one of the few new mine developments in the UK for decades, Tungsten West acquired the project in 2019 after it had gone into receivership.

The mine had operated for around three years to 2018 before shutting down due to technical issues and Tungsten West said the partial opening was to process ore left over from that period.

Concentrate from the processing, which was allowed under a temporary permit, had been shipped to an offtaker, the company said, which should generate revenues of more than £400,000.

Aim-listed Tungsten West added it is now working with Devon County Council on a permit for full mining operations to begin again.

Shares rose 0.38p to 3.5p.

Read more on Proactive Investors UK

Disclaimer

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.