Geodex finally has some serious competition on the tungsten side of business. The world class Hemerdon Mine (Devon England) is planning to go into production about the time Sisson is planned to go into production. It is a higher grade but lower tonnage deposit but has significant byproducts in tin, kaolin and other metals. More importantly it will be cheaper production.

Was this deposit considered by Wardrop when projecting tungsten supply-demand in their report?

Favourable location - I visited the mine back in the 1980's but at that time the locals were against development - they've obviuosly changed their mind since then.

Wolf acquires world class Hemerdon tungsten and tin deposit in the UK

Tuesday , 04 Dec 2007

Key points

• Acquires 100% of Hemerdon Tungsten and Tin Project in the UK, one of the largest tungsten and tin deposits in the world
• Will re-commence trading on the ASX on December 5.
• Mining scheduled to begin within three years.
• Anticipated to mine 3000 tonnes of tungsten per year over 15-19 year period.
• Mineable reserve estimate of ~ 40Mt at 0.183% tungsten trioxide, 0.029% tin.
• Consideration will be A$1million, plus annual rental payment of A$145,000. Separately, a 2% net smelter royalty (NSR) will be payable.
• Planning Permission to develop the mine valid until 2021.