Woulfe Mining Corp WFEMF

somebody gave up

[74volfram]

somebody gave up here. I do not think it was IMC (they could have pulled the plug on the loan a number of times last year). The 8c per share is so low with respect to the potential value of the de-risked mine that my immediate reaction is Dundee can no longer support Woulfe and wants or needs out. Commodities have been crashing all around, CAD as well, USD soaring and Dundee is probably at the wrong end of several bets right now and may not have appetite or cash for more risk.  The give-away should have been that they did not take advantage of the 4c share price to push a PP last November, as Woulfe was running out of cash and the second 4M injection of funds had been widely expected anyway.  Woulfe needs cash now and merging with a profitable Tungsten miner is an easy out if the anticipated source of funds gives up.
I do not like the fact that Dundee Capital Markets (DCM) is acting as financial advisor to Almonty and that despite the fact that the proposed merger is an all-share deal, WOF price is fixed at 8c /share.  The letter of intent  is non binding. If somebody wants to, they can come in and make a better offer.  Almonty seems to have some rights of first refusal, and I think they could match 10c per share, but not 20c without losing control of the company after merger. 
Consolidation in the Tungsten mining sector both inside and outside of China is expected to happen sooner or later.  From what I have seen of Almonty, they are probably the best prospect. They are profitable with a proven track record and ambitions to grow.  I would not be surprised to see more acquisitions happening, maybe brokered by DCM?
SP consequences.  If the deal is doomed to happen, I wish it would happen immediately instead of April. It  It would cause a large injection of liquidity in the AII shares and I believe the value of the combined company will very rapidly appreciate, as the deal would be a big win for Almonty.