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Wolf Minerals Ltd (WLFE)

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Thursday 27 September, 2018

Wolf Minerals Ltd

Funding Update and Voluntary ASX Suspension

RNS Number : 1239C
Wolf Minerals Limited
27 September 2018
 

27 September 2018        

Wolf Minerals Limited

("Wolf" or the "Company")

Update on Funding Arrangements and Voluntary Suspension Request

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 its working capital requirements during the ongoing operational ramp up at its Drakelands open pit mine (Drakelands) at the Company's Hemerdon tungsten and tin project in Devon, southwest England.

 

We are pleased to advise that the Company has made significant advances on its production reliability and profile. Work is also currently underway on longer term funding solutions to provide the Company with capital to progress its future enhancement initiatives to optimize production. The Company will  continue to keep the market informed of developments.

 

After discussion with the Company's auditors (PKF Mack), the Wolf Board of Directors (the Board) believes that further progress is required to finalise the audit opinion on the financial statements for the year ended 30 June 2018.

 

Consequently, the Board has decided to defer the release of the Company's Annual Report and audited financial statements for the year ended 30 June 2018 until the funding solution is finalised. Under the ASX Rules, the Annual Report is due for release by 28 September 2018, and accordingly the Company has requested and been granted a voluntary suspension from the ASX until such time as the Annual Report is completed. Under the AIM Rules for Companies the Annual Report is not due to be released until 31 December 2018 and therefore trading in the Company's Ordinary Shares on AIM will continue during this period.

 

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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