Wolf, MZI surmount the debt hurdle
Wolf Minerals is now, for the most part, ready to begin construction on its £129 million ($200 million) Hemerdon tungsten and tin project in south-west England.
The announcement on Friday erred on the side of restraint, but it seems Wolf Minerals is now on the cusp of starting construction on its £129 million ($200 million) Hemerdon tungsten and tin project in south-west England.
The Perth-based Wolf has clinched a deal whereby its major shareholder, private equity firm Resource Capital Funds, will provide a $US75 million ($72 million) bridging loan and a $US7 million payment for a royalty on production from the project.
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