Wolf Minerals Ltd

Funding Position Update

RNS Number : 3896D
Wolf Minerals Limited
09 October 2018
 

9 October 2018 

 

Wolf Minerals Limited

("Wolf" or the "Company")

Funding position update

Specialty metals producer, Wolf Minerals Limited (ASX: WLF, AIM: WLFE) (Wolf or the Company) refers to its recent announcements in relation to its financing arrangements and the standstill arrangements with the Company's existing senior lenders.

 

As announced on 30 July 2018, the Company has been working with its key financial stakeholders to develop longer term funding solutions required to provide the Company with capital prior to the expiry of the standstill period on 28 October 2018, to progress further production improvements. 

 

The Company's discussions with those stakeholders are ongoing and the Company expects to conclude those discussions this week, following which a further announcement will be made.  However, should the Company not be able to satisfactorily conclude its discussions with those stakeholders within the next two days, it will not be in a position to meet its short term working capital requirements after that point in time.

 

The Company's shares remain suspended from trading on ASX in accordance with ASX Listing Rule 17.2 pending the release of an announcement regarding finalisation of its audited annual financial statements and Annual Report for the year ended 30 June 2018. 

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").

 

ENDS

Wolf Minerals Limited

Richard Lucas

+ 44 (0) 17 5239 3235

Numis Securities (Nomad & Broker)

John Prior / James Black / Paul Gillam

+44(0)20 7260 1000

Newgate

Adam Lloyd       

+44 (0) 20 7653 9850

 

About Wolf Minerals 

Wolf Minerals is a dual listed (ASX: WLF, AIM: WLFE) specialty metals producer. In late 2015, Wolf Minerals completed the development of a large tungsten resource at its Drakelands Mine, located at Hemerdon, in southwest England.


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