12th Mar 2014 10:20
LONDON (Alliance News) - Wolf Minerals Ltd Wednesday said its shares on the Australian Securities Exchange have been placed in a trading halt at the company's request.
The metals exploration and development company said it asked for the suspension in order to allow a capital raise to take place, which will include its major shareholders Resource Capital Funds VLP and TTI Ltd.
Wolf Minerals said it expects the halt to remain in place until it makes an announcement to the market in relation to the outcome of the capital raise or the start of trading on Friday, whichever is earlier.
The company is currently constructing its Hemerdon tungsten and tin project in the southwest of England, with a timetable for commissioning and first production in mid-2015.
Wolf Minerals shares were down 12% to 21.08 pence on AIM in London, putting it in the top ten AIM fallers.
By Tom McIvor; [email protected]; @TomMcIvor1
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