The move comes as Wolf considers a more strategic long-term restructuring of debt incurred for the construction of the Drakelands tungsten mine in Devon.
Wolf has also agreed on a standstill with senior lenders regarding outstanding fees and matters of default, and the deferral of senior debt principal and interest repayments totalling approximately £2.1mln, until 28 October 2018.
These financing arrangements expected to be sufficient to support Wolf's short-term working capital requirements until 28 October 2018, during which time the company will undertake a strategic review of its funding arrangements.
"As we drive further operating improvements towards self-sustaining cash flows and convert value-adding opportunities, such as ore pre-processing, these financing arrangements provide additional flexibility to prepare for our future as a significant contributor in the tungsten market,” said Wolf's managing director, Richard Lucas.
“The support we receive from each of our key project stakeholders is fundamental to the long-term success of Wolf and we recognise their shared vision of a secure, long-term source of tungsten in the UK."
Wolf had A$19.8mln (£11mln) total cash at 30 June 2018, of which A$17mln (£9.5mln) was restricted for use on the noise and vibration management plan.
As a result of the funding arrangements described above, the Company expects to have sufficient working capital for the period to 28 October 2018.