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Wolf Minerals Ltd (WLFE)

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Wednesday 10 October, 2018

Wolf Minerals Ltd

Funding Position Update

RNS Number : 6017D
Wolf Minerals Limited
10 October 2018
 

10 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 announcement on 9 October 2018.

 

The Company has been unable to satisfactorily conclude its discussions with its key financial stakeholders and therefore is not in a position to meet its short term working capital requirements in order to continue operations at its Drakelands open pit mine.  Consequently, the Company's wholly owned subsidiary, Wolf Minerals (UK) Limited, has ceased trading effective immediately.

 

The Board of the Company has resolved that Martin Jones and Ryan Eagle of Ferrier Hodgson be appointed as voluntary administrators of the Company.

 

At the request of the Company, Wolf's depository interests have been suspended from trading on AIM.

 

The Company's shares remain suspended from trading on ASX.

 

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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