Wolf, GR settle dispute

WOLF Minerals has ended a contractor dispute by handing back a £7.5 million performance bond to GR Engineering, which Wolf said had failed to fix a noise problem in its Hemerdon processing plant.

Wolf, GR settle dispute Wolf, GR settle dispute Wolf, GR settle dispute Wolf, GR settle dispute Wolf, GR settle dispute

"Good thing we had that bond"

But, in a happy coincidence, the estimated cost of fixing the problem is the same as the performance bond, and Wolf says fellow ASX company GR has agreed to cover it.

The Devon-based tungsten and tin miner has struggled with noise complaints, and had to shut down the vibrating screens from Friday night to Monday morning for some months to keep residents on-side.

A fix to the low-frequency noise issue was to re-clad the processing plant, and the screens have been running at the desired rate since January.

Last August, Wolf had said it would take back GR's performance bond because of the issue.  

"The company has assessed the costs of ongoing LFN rectifications and has decided to notify GRES of its intention to recover these costs from the £7....