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Wolf Minerals Share Discussion Threads
Showing 1551 to 1572 of 1575 messages
|times104, My take, yes. Currently advertising two posns, but that means nothing.
Hope they survive. I've taken a pos punt, gamble.
|d..d are you saying there is a 50% chance that the mine is to be closed? (iyho)|
|lm245 sen your post on wres share board on wlfe ,thats your view|
|Update of Funding Arrangements and Voluntary Suspension Request
Specialty metals producer, Wolf Minerals Limited (ASX: WLF, AIM: WLFE) (Wolf or the Company) provides the following update on the Company's funding arrangements to support the ramp up towards commercial production and design performance at the Drakelands open pit mine (Drakelands).
On 29 July 2016 as part of the Quarterly Activities Report, the Company announced that it is in breach of a loan covenant under the senior debt finance facilities, comprising a £70 million term loan facility and a £5 million bond facility, provided by a consortium of global mining financiers (the Lenders). The covenant relates to a minimum forward cash flow forecast requirement, which the Company is unable to meet without further support.
Subsequently, the Company has been in discussions with the Lenders and Resource Capital Fund VI L.P. in relation to the forecast cash flows and the Company's financial position. The discussions have been positive and have advanced to a negotiated draft non-binding term sheet for a funding solution involving a standstill and restructure of the senior debt facilities and additional funding support for working capital requirements. All parties are targeting completion of final binding agreements on or before 17 October.
After discussion with the Company's auditors (PKF Mack), the Wolf Board of Directors (the Board) believes that further progress is required to finalise the audit opinion on the financial statements for the year ended 30 June 2016.
Consequently, the Board has decided to defer the release of the Company's Annual Report and audited financial statements for the year ended 30 June 2016 until the funding solution is finalised. As the Annual Report was due for release on 30 September 2016 pursuant to ASX Listing Rules, the Company has requested a voluntary suspension from the ASX until such time as the Annual Report is completed.
Trading in the Company's Ordinary Shares on AIM will continue during this period.|
|It might pay you to read the detailed report that Peakview posted on London South East (LSE) after his recent visit. Might be worth you hanging on to those shares....unless of course you're strapped.|
|Didn't make the visit, wife was ill. Not pursued management as I believe "waste of space".
Quite prepared to sell at a loss, but will stitch them when demanding accounts, if necessary.|
|Total Issued Capital as at 30 June 2016 1,082,887,708
Resource Capital Fund V LP 337,669,237 31.18%
Resource Capital Fund VI LP 197,708,366 18.26%
RCF V Annex Fund LP 74,326,454 6.86%
RCF Management Pty Ltd 159,657 0.01%
Total RCF & Affiliates 609,863,714 56.32%
TTI (NZ) Limited 260,677,375 24.07
Traxys Projects LP 55,506,776 5.13
TOTAL 926,047,865 85.52%
taken from website... therefore free float <15%|
|I don't know where you get your five major shareholders from ? I believe there are just two major shareholders. RCF who hold around 53% and The Todd Corporation who hold around 30%. It leaves just 20% which could come to the market. I really don't think you will see RCF or Todd putting shares on the market any time soon for obvious reasons. A demand for Wolf shares will see rapid increase in the price simply due to shortage. Basic economics....supply and demand. .....|
|If they don't sell. Yes but I feel they will sell.If there is demand for the shares and the MMs don't have any,I think would be good for the shareprice.ATB.|
|More than a billion shares, yes. But see the owners. MMs will be short of shares if the five major owners aren't selling, will they not?|
|We now have over i Billion shares. I don't think the MMs will be short of shares.|
|Seems to be more a moderately chunky set of buys three days ago (same buyer in lots?) followed by an almost unbroken stream of tiny buys since. MM shortage of stock? Just five main shareholders seem to own nearly all of it (Morningstar data - adds up to 110% LOL).|
|SP recovery aligned with better results at the mine?|
|Just about Tin mining.
|It's worth remembering that China is the world's largest refined tin producer, a status that is easy to forget given the current low impact it makes on global trade flows.
But is that low profile due to the export tax more than to domestic supply-demand dynamics?
WHAT HAPPENS NEXT
So what happens next?
Probably very little in the immediate future.
This sort of WTO trade case can take years to resolve. The first step is consultation between the United States and China to see whether they can, to quote the USTR, "reach a mutually agreed solution".
Only if that consultation phase fails to produce a result will the complaint move to the next stage, the formation of a dispute-settlement panel to examine in greater detail the case for enforcement action.
But, as the USTR pointedly noted in its official statement on July 13, the United States has a good track record of winning such disputes.
"Since 2009, the Administration has brought 22 enforcement actions (including this one) at the WTO, and won every single one decided thus far."
And specifically it has won two cases against Chinese export duties on metals: "China - Measures Related to the Exportation of Various Raw Materials" and "China - Measures Relating to the Exportation of Rare Earths, Tungsten, and Molybdenum."
In both cases the WTO confirmed that China was obligated to eliminate export duties on any products other than those listed in that original annex to the 2001 protocol.|
|Oh dear,the price of Tungsten is down and the mill has to have its faults remedied,but apart from that all is well. All we now need to guarantee success are some competent design engineers and for war to break out to drive up the price of tungsten.|
|Oh! Katie you are priceless...|
|Dudishes & times104
The news and updates are already out , so can't see your visit being very productive info wise. Mind you,if they have a jam & clotted cream tea waiting for your visit , it won't be a wasted day.|
|Hi Dudishes I live a few miles from the site any chance of joining you on the visit??|
|Katie - pure speculation, as I ascribed. Did not take up the Monday (as mentioned offer),
I have a meeting with Mgt on site, in July. I will inform all.|
|should read "New Mine Manager" needed|
|General Manager gone. New Mines Needed. New Process Engineer needed..Tungsten price heading north. There is obviously something wrong at the mine.I would guess the kaolinised ore is not responding as expected to the processes. They will undoubtedly get it sorted .What a wonderful buying opportunity !!!|