Sign up Australia
Proactive Investors - Run By Investors For Investors

Wolf Minerals ceases trading in London after UK subsidiary enters voluntary administration

Wolf Minerals has ceased trading on London's junior market AIM effective immediately
Wolf Minerals
Ferrier Hodgson has been appointed as voluntary administrators

Wolf Minerals Limited (LON:WLF) said its UK subsidiary has entered voluntary administration after failing to reach an agreement with financial stakeholders to secure the funds needed to continue operations at its Drakelands tungsten mine in Devon.

The company said it was 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” for the open pit mine.

READ: Talks on funding ongoing, says Wolf Minerals

The wholly-owned UK subsidiary, Wolf Minerals (UK) Limited, has ceased trading on London's junior market AIM effective immediately. The group's shares remain suspended from trading on the Australian Stock Exchange.  

"The board of the company has resolved that Martin Jones and Ryan Eagle of Ferrier Hodgson be appointed as voluntary administrators of the company," Wolf Minerals said. 

View full WLF profile View Profile

Wolf Minerals Limited Timeline

Newswire
August 14 2018

Related Articles

1534132715_757z468_1531811377_Gold-in-hand.jpg
August 13 2018
The company is excited by the potential of its Albury Heath project in the Meekatharra area of Western Australia’s Mid West-Murchison region.
Ironbark’s vessel the Nunavik
August 09 2018
Ironbark is hopeful of attracting equipment suppliers to reduce the capital cost of building its big zinc mine by 30% or US$150 million.
1528483472_tinka-workers---great-pic.jpg
June 27 2018
In April this year, the group said it was fully funded for exploration at the project for the next 18 months

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use