Funding position update
Thursday, October 11th, 2018
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.http://www.wolfminerals.com.au