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10 Oct 2018 12:46
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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