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.
As quoted in the press release:
The funding package comprises:
- AU$20.3 million placement for 75,378,519 shares at AU$0.27 (c.17p) per share, a premium of 12% over Wolf’s 30 day VWAP at the time of the placement.
- US$82 million funding package from Resource Capital Fund V L.P. (RCF). This is made up of a US$75 million 12 month secured Bridge Finance Facility and US$7 million consideration for the purchase of a 2% Royalty by RCF on gross revenues from all metals and minerals produced from the Hemerdon project.
- Credit approval for £75 million senior debt funding from senior debt providers; UniCredit Bank AG (UniCredit Corporate & Investment Banking), ING Bank N.V. and Caterpillar Financial SARL.
There is no guide to critical metals investing that is more concise, clear and authoritative.Download this FREE Special Report, Investing in Today’s Critical Metals – Context for Lynas News and Molycorp News.