New kid on the block, tungsten on the rise and all this in devon....what devon ?.....yes : devon...by jove....!.

Funding Update

Specialty metals producer, Wolf Minerals Limited (ASX: WLF, AIM: WLFE) (Wolf or the Company) refers to its recent announcements in relation to its financing arrangements and the standstill arrangements with the Company's existing senior lenders.

As announced on 30 July 2018, the Company has been working with its key financial stakeholders to develop longer term funding solutions required to provide the Company with capital prior to the expiry of the standstill period on 28 October 2018, to progress further production improvements.

The Company's discussions with those stakeholders are ongoing and the Company expects to conclude those discussions this week, following which a further announcement will be made. However, should the Company not be able to satisfactorily conclude its discussions with those stakeholders within the next two days, it will not be in a position to meet its short term working capital requirements after that point in time.

The Company's shares remain suspended from trading on ASX in accordance with ASX Listing Rule 17.2 pending the release of an announcement regarding finalisation of its audited annual financial statements and Annual Report for the year ended 30 June 2018.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").

ENDS

What to say? Not sure. What an odd situation. We expect to conclude this week but we run out of money on Thursday.

yet another one for the glue factory

I hope not. Can't see that happening. Too much investment has been put into it.

I've spent an hour looking at this company this morning so take what I say with a pinch of salt, but it looks to me like the company needs to scale back investment and ramp up production. Easier said than done.

Suspended pending clarification of financial position.

Which could mean anything

Another gem of an investment! :-(

Sorry to hear Skinny.

I read the accounts yesterday. Ramp up in production looked too slow to me but I'll be surprised if they go under.

Probably more convertible loans/warrants?

My two forays into home grown mines are these and SXX - I hold quite a lot of the latter.

Time will tell and yes, probably more paper!

Funding position update

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.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").

RNS Administration , gutting .

sorry, but why would you be surprised?

Only gutting for the shareholders really .

God almighty : another one....got out months ago....not good....