Wolf Minerals, a specialty metal exploration and development company, announced it has appointed UniCredit Bank AG, ING Bank and Caterpillar Financial SARL to provide senior debt finance facilities totaling £55 million ($85.5 million) to fund the commercial development of the Hemerdon Tungsten and Tin Project in Southwest England.

The funding will support the planned construction of the Hemerdon project, based on the recently completed definitive feasibility study. The study confirmed the robust economic viability of the project and estimated a net present value of £74 million.

Wolf said UniCredit Bank AG, ING Bank and Caterpillar Financial SARL were appointed following the completion of a competitive process facilitated by Optimum Capital Pty. This process incorporated a technical due diligence review undertaken on behalf of the financiers by Micon International and a further independent marketing study by Roskill Consulting Group.