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ASX allows Wolf to grant security over Hemerdon

Major shareholder RCF has provided unstinting support to Wolf over the years

Periodic table
Tungsten has yet to regain ground lost since the previous boom

Wolf Minerals (LON:WLFE)(ASX:WLF) has been granted permission by the Australian Securities Exchange to allot security over the Hemerdon tungsten mine in Devon in return for an increase in the bridge loan facility provided by major investor Resource Capital Funds.

RCF is increasing its support by a further £10mln to a total of £55mln in the bridging loan.

READ: Wolf Minerals gets £10mln boost to its short term working capital bridge facility increased

One condition of the ASX in granting the waiver was that Wolf detail plans for repayment of the funds, and accordingly Wolf has advised that the loans will be repaid or converted within the remaining three-year period, and that the security will be discharged at that time.

 

Quick facts: Wolf Minerals Limited

Price: 0.035 AUD

ASX:WLF
Market: ASX
Market Cap: $38.18 m
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Watch

Demise of Wolf Minerals Ltd 'a blow for UK mining' - Alastair Ford

Mining Capital's Alastair Ford discusses the collapse this week of Wolf Minerals Limited (LON:WLFE) (ASX:WLF). Ford says what really did it for Wolf was simply that the economics of production at Hemerdon never really stacked up. He adds that its major investor RCF will now be staring...

on 12/10/18

2 min read