LONDON (Alliance News) - Wolf Minerals Ltd said Tuesday it has executed all necessary full form standstill and amended and restated agreements relating to its debt facilities with its senior lenders and bridge loan facility with Resource Capital Fund VI LP.
These moves will support the company's short-term working capital requirements until October 28.
Wolf Minerals has received guarantor consent from the German government's United Loan Guarantee Scheme to enter into and implement the relevant agreements, which confirm the deferral of principal, interest and other amounts that were due in relation to the senior debt at the end of July 2018.
The metals producer received an initial tranche of GBP2 million from an additional GBP4 million secured priority loan under the amended and restated bridge facility.
Wolf Minerals also received the initial GBP900,000 of the GBP1.7 million available from the cash balance previously restricted for use on the noise and vibration management plan.
Shares in Wolf Minerals were up 5.9% Tuesday at 1.80 pence each.