Wolf Minerals Limited (ASX:WLF) has been awarded the prestigious European Mining and Metals 2013 Deal of the Year for its funding package for the Hemerdon Tungsten and Tin Project.
As quoted in the press release:
Wolf has put in place a funding package totalling ~A$222.6 million for the development and construction of the Hemerdon Project, located in Devon in the south west of the UK.
The funding package comprises £75 million in Senior Project Finance Facilities from ING, Unicredit and CAT Financial, plus a US$75 million Bridge Finance Facility from the Company’s major shareholder, Resource Capital Funds.
Wolf Minerals Managing Director, Russell Clark, said:
We are delighted to receive this award and are appreciative of the judging panel recognising the quality of the financing package that has been put in place to establish our Hemerdon tungsten project. This will be the first new mine in the UK for 45 years, and will create 200 direct jobs and establish a new industry in the UK, which has all been made possible through the finance package and the strength and support of our shareholders. Congratulations to Unicredit, ING and Caterpillar Finance on this recognition of their success, as well as the various legal and technical consultants that assisted in making this possible.