Woulfe Mining Corp WFEMF

RE:RE:RE:RE:Today's news..

[cult_of_frank]

I'm no expert but I don't think so, personally. When IMC was first announced as getting on board, our share price went into the mid-high 30s. The mine NPV was generally accepted then to be around $500M although the revised testing is obviously in question now, which to me is a large part of the current share price. It was at least supposed to be 43-101, but the general feeling was that there is something wrong and what specifically hasn't been disclosed. It may be that Brian, in his haste, cut some corners and missed some areas that would significantly expand the resource and major shareholders/board members weren't willing to just give that much potential away to IMC without fully delineating the resource. It may be that the results were overstated. We don't know (or at least I don't). Which is a recurring theme here, communications is terrible. 

If you believe that the testing was more or less an accurate statement of the resource and economic conditions, then we are trading at less than 1/10th of that value presently on a shares currently outstanding basis. Historical numbers put the mine NPV around $400M, which is still 10x our current price. So I don't personally think that whatever flaws may have been in the new testing, that it's that far off. In fact, I will be so optimistic as to say that I believe we did under-test the area. 

When IMC signs on to advance the new testing/drilling, I expect that we will get a bump, maybe even back to the 20's. That is milestone 1. But the three larger ones are:

a) New 43-101
b) Financing deal closed (and good terms)
c) Production

There should be a well-known timeline that we hope to follow to reach these milestones (and others) but again, we don't know. I think a lot of us are still here after all that has passed largely because of our faith in Dundee's due diligence.