Woulfe and Almonty Abandon Plan to Merge

Woulfe and Almonty Abandon Plan to Merge

The tungsten space got a surprise this morning when Woulfe Mining and Almonty Industries announced that they no longer plan to merge. Little explanation has been offered as to why the plan fell through.

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Company News

Wolf Minerals Announces Interim Financial Report

Wolf Minerals Announces Interim Financial Report

Wolf Minerals Limited (ASX:WLF) reported that as of the half year ended 31 December 2014, progress at the Hemerdon Project in the UK is 67% complete, with dry commissioning of the plant anticipated in March 2015; and all structural concrete pours were complete with structural steel erection being 44% complete.

Almonty Announces Settlement of Claims for Wolfram Camp Mine

Almonty Industries Inc. (TSXV:AII) announced that it has entered into an agreement with Deutsche Rohstoff AG, with an agreement to unconditionally settle all claims related to Almonty’s previously announced acquisition of Wolfram Camp Mining Pty Ltd and Tropical Metals Pty Ltd.

Blackheath Resources Closes Second Tranche of Private Placement

Blackheath Resources Closes Second Tranche of Private Placement

Blackheath Resources Inc. (TSXV:BHR) reported that it had closed the second tranche of its previously announced private placement for gross proceeds of $221,000. Blackheath plans to used proceeds from the private placement for exploration work at its tungsten projects in northern Portugal. The company also provided an update on its Covas Tungsten project.

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Market News

China’s Moly, Tungsten Industries to See Less Growth

Metal Bulletin reported that an industry official believes China's molybdenum and tungsten industries have begun a period of decreased growth. He described the slowdown as the "new norm."

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