Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Wolf Minerals Limited arranges covenant waivers for a year

The waivers, amendments and relief are effective immediately.
Wolf Minerals Limited arranges covenant waivers for a year
Wolf has agreed waivers until next year

Devon-based tungsten and tin miner Wolf Minerals Limited (LON:WLFE  ASX:WLF) has arranged loan covenant waivers until next March.

The waivers, amendments and relief are effective immediately.

In January, major shareholder Resource Capital (RCF VI) also provided a standby equity facility of up to £25mln to strengthen the balance sheet during the ramp-up of the  processing plant at the Drakelands mine.

The facility is required to be approved by shareholders for the waiver letter to remain effective.

Russell Clark, Wolf’s managing director, said: "The company welcomes the continued support from its lenders, UniCredit Bank, London Branch, ING Bank and Caterpillar Financial.

“The combination of the waivers and relief from the Letter and the funding support from RCF VI enables the company to focus on the success of Drakelands.

“The company will now seek the required regulatory and shareholder approvals to confirm this support."

PhilW.jpg
Why Invest In Wolf Minerals Limited? Read More Here

Register here to be notified of future WLFE Company articles
View full WLFE profile

Wolf Minerals Limited Timeline

Big Picture
April 20 2016

Related Articles

rsz_shutterstock_342486524.jpg
March 01 2016
Niocorp is developing North America’s only niobium-scandium-titanium project at Elk Creek in Nebraska.
Will Ortac’s big move into Africa pay off?
October 29 2015
The rewards could be huge, but there are still risks
shutterstock_176428352.jpg
April 01 2016
Century Global Commodities is putting some hard work to good use with a change of strategy that will see it capitalise on the huge potential of its mining database.

© Proactive Investors 2016

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.