Versarien Plc. , the advanced engineering materials group, announced its intention to raise funds and seek admission of its shares to trading on the AIM Market of the London Stock Exchange. Dealings are expected to commence on AIM in late March 2013. Northland Capital Partners Limited is acting as Nominated Adviser and sole Broker to the Group.

The Group's trading subsidiary, Versarien Technologies Limited was founded in 2010 to commercialise a process for the production of cutting edge porous metallic materials, developed at the University of Liverpool.

The company said that in conjunction with its Admission to AIM, it will acquire Total Carbide Limited, a long established advanced materials company manufacturing tungsten carbide, a wholly owned subsidiary of Elektron Technologies plc (EKT). The total consideration being paid by Versarien to Elektron for the entire issued share capital of Total Carbide is 2.3 million pounds. Completion of the acquisition is conditional on the Group's successful Admission.

For the six months ended 30 September 2012, Versarien reported turnover of £nil and a net loss of 168 thousand pounds. For the year to 31 January 2013 Total Carbide generated revenues of 3.8 million pounds and a profit after tax of 56 thousand pounds.

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The Australian firm behind £130 million plans to re-start mining operations on the outskirts of Plymouth made a loss of $2.5 million in last six months of 2012.

It comes after an announcement yesterday that Wolf Minerals had awarded a £75 million design and build contract for the scheme's processing plant to fellow Australian firm GR Engineering.

The mine, at Hemerdon, is anticipated to come into production by the end of 2014 and will produce 5,000 tonnes of tungsten concentrate and 500 tonnes of tin annually over the following decade.

Last month, a New Zealand-based business TTI (NZ) Ltd bought a 19.9% interest in the company as part of a $20.3 million share placement exercise to raise funds to provide working capital to progress the scheme – specifically by buying homes near the site of the mine.

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Shares in Wolf Minerals(WLFE) rose over 11% on Wednesday after it awarded a £75 million contract to Australia-based GR Engineering Services for the Hemerdon tungsten and tin project in the UK.

The fixed-price, fixed-term engineer procure construct (EPC) contract is for the design, construction and commissioning of a three million tonne-per-annum tungsten and tin mineral-processing plant, plus associated infrastructure, which will form "the key component" of the Hemerdon project.

The contract price is less than the £77 million estimated in a May 2011 definitive feasibility study. The contract forms the bulk of the development costs, estimated to be about £104 million, with land purchases, owners' costs and contingencies making up the balance.

Work on the two-year construction will commence upon satisfaction of the conditions precedent to financing.

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Blackheath Resources Inc. (BHR.V) and Avrupa Minerals (AVU.V) today reported further drilling results from the Covas Tungsten Project in northern Portugal.

Highlights:

1.56% WO3 over 11.40 metres at Lapa Grande including

2.89% WO3 over 5.10 metres in Hole CO 13-12

0.79% WO3 over 1.55 metres at Telheira in Hole CO 10-12

2.11% WO3 over 7.98 metres at Telheira including

4.24% WO3 over 2.55 metres in previously reported Hole CO 7-12

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