GREY:WFEMF - Post by User
Post by
lonadeon Jan 27, 2015 12:57am
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Post# 23366348
Mining Titles of WOF
Mining Titles of WOFWhile reading the financial report issued in December 2014 it caught my eye that WOF has made the decision to impair all their mining titles with the exception of the one for Muguk.
So that can be considered an indication that they are also planning to start working on Muguk once Sangdong is up and running. Since they currently dont have the money to do it earlier...
This does make sense, since Muguk is the only one that has the potential to becoming a producing mine in a relatively short time with the least amount of capex. The mine is high grade and has the potential for further expansion.
Another excellent decision of the current management; why keep them if you know that nothing will be done the next 5-10 years (or if at all). It is also not even proven that they have any economically feasible resources.
First focus on your key assets, start making profits with them and then see if you can make any money with the remaining.