Wolf Minerals (ASX:WLF,AIM:WLFE) announced its third quarter activities report with highlights including starting a drawdown of 75 million in senior debt facilities, with the first drawdown taking place on September 19. The company also reported that construction on its Hemerdon project is continuing (with a price tag of ASD 61.7 million) as well as the geotechnical diamond drilling program advancing.
According to the press release, highlights include:
- Commenced drawdown of £75 million in senior debt facilities finance facilities
- Construction remains on track and on budget.
- Development expenditure for of A$61.7 million for the quarter
- Geotechnical diamond drill program advanced.
Russell Clark, Managing Director of Wolf, said:
This has been another highly successful quarter for Wolf. Completing the necessary conditions to commence draw down of the senior debt finance facilities was a major milestone and 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.