Wolf Minerals Limited Funding Update (6577M)
October 17 2016 - 2:00AM
UK Regulatory
TIDMWLFE
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
END
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