Done Deal and TungstenI can't see the High Court in Vancouver getting in the way, unless maybe on procedural issues. We are 2 weeks late, but with 98% of votes in favor I think it is safe to assume the merger is a done deal. The three documents issued after the vote confirm that:
- In its MD&A and Financials, Almonty acknowledges responsibility for the outstanding debt of Woulfe, including the 11.2M owed to IMC.
- In the monthly CSE progress report, Woulfe states: "it is anticipated that the Arrangement will be completed in early September".
So I read it as: Woulfe shares will be converted before September 15, which is the due date of the IMC loan.
Tungsten Price. Still mixed, but first sign of improvement for Tungsten price I have seen in over one year: BEIJING Asian Metal 9 Sep 15 - "Some overseas consumers come back to test the market after the summer holiday. Chinese APT exporters claimed that the mainstream offers for APT 88.5%min decreased to USD190-200mtu due to decreasing exchange rate of RMB, down by USD5mtu from those of late August. However, they received more inquiries early this week and it is predicted that the market will pick up in the following days."