Tungsten – Making headlines this week in tungsten was Wolf Minerals, which finalized a AU$192-million finance facility and secured an offtake agreement. With the tungsten market looking like it might be perking up, this news is a welcome step for the company.
Tungsten – Wolf Minerals Limited (ASX:WLF) signed the documentation for the £75 million project finance facility provided by UniCredit Bank AG, London Branch, ING Bank N.V. and Caterpillar Financial SARL, and the US$82 million funding package provided by Resource Capital Fund V L.P. for the Hemerdon Tungsten Project in England.
Tungsten – Wolf Minerals Limited (ASX:WLF,AIM:WLFE) provided a quarterly update, for the three month period ended March 31, 2013, on its progress on the Hemerdon tungsten and tin project in Devon, UK. The Company is also in the final stages of closing the detailed finance documents for the senior loan facilities previously announced and also, as part of this process, is completing the details of the binding offtake contract, which is expected to be completed in the current quarter.
Tungsten – Wolf Minerals (ASX:WLF) is in the final stages of securing a new funding package to commence production on the Hemerdon tungsten project.
Tungsten – Wolf Minerals (ASX:WLF) awarded a £75 million engineering contract to GR Engineering Services Limited for for the design, construction and commissioning of a 3Mtpa tungsten and tin mineral processing plant plus associated infrastructure at the Hemerdon Tungsten and Tin Project. A formal commencement date on the project work under the contract will be given by the Company to GR Engineering upon satisfaction of the conditions precedent which form part of the financing arrangements for the project.
Tungsten – A brief overview of tungsten price developments, supply and demand and significant market movers.
Tungsten – Wolf Minerals Limited (ASX:WLF) assembled a funding package of approxmiately AU$212 million to take the Hemerdon Project into production. The Company will be able to commence construction and development with the funding to bring the project into production.
Tungsten – Wolf Minerals Limited (ASX:WLF,AIM:WLFE) released their quarterly activities report, which included major milestones in regards to the required funding for the Hemerdon project.
Tungsten – Wolf Minerals Limited (ASX:WLF) announced that all resolutions put to the general meeting on January 24, 2013 were passed, and the decision was unanimous. Resolutions included the issue of securities to RCFV and the increase in relevant interest, the placement of shares to Todd, the placement of shares to Traxys, and the placement of shares to Kevin Barry Building Services.
Tungsten – Tungsten Investing News spoke with Hunter Hillcoat, mining analyst with Investec Securities in London, regarding his coverage of Wolf Minerals Limited (ASX:WLF). Investec recently revised their buy rating price target for Wolf Minerals to 29.4p down from 31.6p.
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