Almonty acquired 100% of the share capital of Wolfram Camp Mining Pty Ltd (“WCM”) and Tropical Metals Pty Ltd (“TM”) (which collectively own a 100% interest in the Wolfram Camp Mine) from Deutsche Rohstoff AG (“DRAG”) on September 22, 2014. Production at the Wolfram Camp Mine had been suspended during the period of time that Almonty had been refurbishing the mill. However, subsequent to September 30, 2018, the Board of Directors determined that it was in the best interests of the Company to cease expending further funds towards refurbishment and, consequently, the Company caused WCM and TM to be placed into voluntary liquidation with all requisite approvals received and is close to completion. |