21/11/2007 - 12:48

Wolf Minerals plans acquisition ahead of trade resumption

21/11/2007 - 12:48

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Subiaco-based tin and tungsten explorer Wolf Minerals Ltd has announced it is in the final stages of acquiring a major mining and exploration project, with plans to resume trade on the Australian Securities Exchange after completion.

Wolf Minerals plans acquisition ahead of trade resumption

Subiaco-based tin and tungsten explorer Wolf Minerals Ltd has announced it is in the final stages of acquiring a major mining and exploration project, with plans to resume trade on the Australian Securities Exchange after completion.

 

 

The full text of the company announcement is pasted below

Australian specialist minerals exploration and development company Wolf Minerals (ASX: WLF) (Wolf, the Company) advises that it is in the final stages of concluding the acquisition of a major mining and exploration project in line with the Company's long term strategic goal of becoming a world class tungsten and tin producer.

Wolf has been in voluntary suspension from trading on the Australian Securities Exchange (ASX) since June 12 this year and during this period has been working diligently on negotiations in respect of the acquisition.

The Company plans to announce full details of the project acquisition in the near future before resuming trading on the ASX a short time after.

The Board of Wolf believes that the acquisition will add significant material value to the Company consistent with its corporate strategy.

Wolf managing director Mr Humphrey Hale said that the Board appreciated the continued support of shareholders throughout this period while the acquisition was being negotiated and for sharing in the Company's vision of building Wolf into a major mineral producer.

"We feel that this acquisition is a significant step in this direction and we look forward to confirming the details of the project and delivering continued strong asset growth and shareholder wealth," Mr Hale said.

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