--adds broker comment--
Wolf Minerals (LON:WLFE, ASX:WLF), which is developing Britain's only tungsten mine, said it would shortly begin to draw down on its £75mln debt finance facility.
The debt finance facilities consist of a £70mln loan and a £5mln bond facility.
The firm plans to use the £70mln to finalise construction at the Hemerdon tungsten and tin project, which is scheduled to be completed in the third quarter of 2015.
These senior debt finance facilities, along with a US$182.7mln capital raise completed in May this year, provide the required funding to see the project through construction, to positive cash flow, the firm added.
Wolf's managing director, Russell Clark, told investors: "This is another significant milestone in the development of the project.
"Prior to accessing the senior debt finance facilities, the company was required to meet a significant number of conditions in relation to key aspects of the project such as permitting, equity funding and off-take.
"Our ability to meet all the conditions, and continue to advance the development of the project, is a testament to the company and the strength of our management team."
He added: "Project development and construction continues on track and we remain committed to delivering first concentrate to our off-takers in the second half of 2015."
Broker Investec said, following the statement: "Another milestone for the company, where development remains on budget and schedule."
Shares were unchanged at 16p each.