Wolf Minerals has provided an update on its funding arrangements to support the ramp up towards commercial production and design performance at the Drakelands open pit mine (Drakelands).
On 30 September 2016 the Company announced that it has been in discussions with the Lenders and Resource Capital Fund VI L.P. in relation to the forecast cash flows and the Company's financial position and that all parties were targeting completion of final binding agreements on or before 17 October 2016.
The discussions have continued to be positive and have advanced to a point where the Company has every expectation that completion of final binding agreements will now occur on or before 21 October 2016.
Consequently, the Board plans to release the Company's Annual Report and audited financial statements for the year ended 30 June 2016 upon finalisation of the funding solution.
As the Annual Report was due for release on 30 September 2016, the Company will remain in voluntary suspension from the ASX until such time as the Annual Report is released. Trading in the Company's Ordinary Shares on AIM continue during this period.