ASX Announcement
17 October 2016
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
Level 3, 22 Railway Road, Subiaco WA 6008
Ph: +61 (0) 8 6143 2070
ABN: 11 121 831 472
www.wolfminerals.com.au
Media and Investor Relations
Australia
James Moses, Mandate Corporate Ph: +61 (0) 420 991 574
E: [email protected]
Russell Clark Managing Director
Ph: +61 (0) 8 6143 2070
E: [email protected]
UK
Helena Bogle, Newgate Ph: +44 (0) 20 7653 9850
E: [email protected]