Almonty(or Woulfe?) paid $5 mil loan back to IMC Construction Starts in Next Spring at Sandong Mine- local news
Kw News Corp dated on 9-21-2015
https://www.kwnews.co.kr/nview.asp?s=501&aid=215092000154
A reporter interviewed Mr. Black and he said:
1. Woulfe's development went into wrong direction and wasted lots of money. There were no experts in mine developing field.
2. They have a feasibility study coming in early November and will start designing/planing refining(?) facility right after.
3. Construction starts in spring 2016. He can build the world's best Tungsten mine in the shortest time at Sandong
4. They will raise about $63 mil and plan to open the mine in spring 2017.
5. They paid $5 mil USD back to Taegu Tec
Below is the article translated by Google
homologous mine= Sangdong mine
know Montego Bay mine= Almonty mine
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[] Youngwol foreign speculative capital, which was saju Youngwol mine put ditto for the past eight years, close to 60 billion won and redevelopment is also a growing curiosity in mine development practices mystery there lies a standstill.
According to Yeongwol homologous mine, even though foreign companies have poured hundreds of billion redevelopment office staff of 50 people, many who are ready to work under the current mining operation dismissal or home. In particular, homology mine is coming in February 2013 Canadian mineral investment sine Dundee Capital is the largest shareholder was also the stock price manipulation allegations raised. At the time of Dundee Capital it will continue to publish the poor financial situation and the issue of new shares after the share price dropped to a subsidiary of Wolff mining operations and increased its stake homologous mine.
Dundee Capital has turned to the international mineral prices and a slump last let's not reap the global tungsten mine in early June, a professional developer of 45 billion won ownership of homologous know Montego Bay mine also increased this stake back to the company.
Al Monti's Lewis Black President acquisition of homologous mining management right (photo) has recently journalists and through an exclusive interview, "homologous mine redevelopment wasted investment obesity equivalent development direction completely wrong dwaeteumyeo As a result," he said "mining professional managers is one who said that the cause of the fiasco, "which also rely on the opinions of outside advisors at no circumstances. Many foreign companies such as Dundee Capital investment Diploma yeoteulji knowing that meantime mine development specialists acquired the mine was not homologous emphasized viscosity.
He said, "In the next 70 billion won, up to the first half of 2017 we will develop a mine" and "concentrate into the facility design based on mine development feasibility reports coming out in early November next year, construction will magnificence April" also announced plans. He added, "Despite the sluggish performance of tungsten, such as mineral prices, homologous mine as much as it is their own to develop the world's best mining in the shortest possible time" and "Warren Buffett funding is $ 5 million loan is homologous mines TaeguTec of major shareholders to establish the mutual development of relationships For all paid off, "he said.