Woulfe Mining Corp WFEMF

WOF Board of Directors Need to Wake Up & Smell the Coffee!!!

[StockExpertPro]

"How much tungsten is a question that was never answered. Brian's drilling program was at the surface where tungsten is easilly accessible so he could produce a quick 43-101 but there are many more levels to that mine which was not included in the resource estimate."

The reason why the previous WOF CEO Brian Wesson only obtained a feasibility study on around 25% of the estimated tungsten mine life was to save money on drilling and to fast track the tungsten mine into production. Which equals out to a NPV US $535 million.• IRR 65.5% on the first 12 years of mine life. Based on the 40+ year mine life on Sangdong the NPV is actually well over $2 billion dollars total.  Do you honestly think the company and board of directors are dumb enough to hand over 40% ownership of a $2+ billion dollar tungsten mine for only a measly $35 million dollars to IMC?
This is the entire reason why IMC was getting such a "sweet deal" and a whopping 40% ownership of the total tungsten project/mine once completed. IMC would have received 55% ownership of the tungsten APT plant and 25% ownership of the tungsten mine which equals out to a 40% total ownership.
This is the only reason that justifies why IMC was receiving such a "sweetheart deal" in the first place. The new management at Woulfe Mining doesn't seem to grasp this.
The WOF board of directors should tell IMC to either A.) take a hike or B.) fork over $10 million dollars for this new game plan involving 1 year of new "test works" on the tungsten project.