Wolf Minerals expects to complete discussions with its lenders and major shareholder, RCF, on funding arrangements to support the ramp up towards commercial production and design performance at the Drakelands open pit tungsten/tin mine by 21 October 2016.
Once the agreements are complete, the company will release its annual report to 30 June 2016. In the meantime, Wolf’s shares remain suspended on the ASX but continue to trade on AIM.
About Wolf Minerals
Wolf is a publicly traded company listed on London’s AIM and on the Australian Stock Exchange (ASX). The company’s sole mineral asset is the Drakelands tungsten and tin mine, in Devon, UK, which the company commissioned in September 2015. The company has said that, when fully operational, the Drakelands mine will produce around 3% of global demand for tungsten (or 15% of non-Chinese demand), with the potential to expand production by over 25%.
The company’s registered office is in Perth, Australia, and operational offices are at the mine site, outside Plymouth, in the UK. The company’s financial year runs from 1 July to 30 June and accounts are denominated in Australian dollars. To visit the company’s website, click here.
Wolf Minerals close to completing funding solution: WLFE