Source - RNS
RNS Number : 6577M
Wolf Minerals Limited
17 October 2016
 

17 October 2016                                                                

Wolf Minerals Limited

Update on Funding Arrangements and Voluntary Suspension from the ASX

 

Specialty metals producer, Wolf Minerals Limited (ASX: WLF, AIM: WLFE) (Wolf or the Company) provides the following update on the Company's funding arrangements to support the ramp up towards commercial production and design performance at the Drakelands open pit mine (Drakelands).

 

On 30 September 2016 the Company announced that it has been in discussions with the Lenders and Resource Capital Fund VI L.P. in relation to the forecast cash flows and the Company's financial position and that all parties were targeting completion of final binding agreements on or before 17 October 2016.

 

The discussions have continued to be positive and have advanced to a point where the Company has every expectation that completion of final binding agreements will now occur on or before 21 October 2016.

 

Consequently, the Board plans to release the Company's Annual Report and audited financial statements for the year ended 30 June 2016 upon finalisation of the funding solution. As the Annual Report was due for release on 30 September 2016, the Company will remain in voluntary suspension from the ASX until such time as the Annual Report is released. Trading in the Company's Ordinary Shares on AIM continue during this period.

 

 

ENDS

 

 

Wolf Minerals Limited

Russell Clark

+61 8 6364 3776

Numis Securities

John Prior/James Black/Paul Gillam

+44(0)20 7260 1000

 

Newgate

Adam Lloyd / Ed Treadwell / Helena Bogle

+44 (0) 20 7653 9850

 

 

About Wolf Minerals

Wolf Minerals is a dual listed ("ASX: WLF", "AIM: WLFE") specialty metals company. With global demand for tungsten rising and future global production expected to be constrained, Wolf Minerals has recently completed the development of a large tungsten resource at its Drakelands Mine, located at Hemerdon, in southwest England.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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