Woulfe Mining Corp WFEMF

RE:In hindsight.....

[cult_of_frank]

Yeah, it's almost like they want it to fail, rubbing our noses in it to make us angry. 22.7% premium to an artificially low number which has no significance given that the final feasibility was released and the share price had moved up to 10 cents. They rushed this announcement out the door right after to avoid having the share price continue up to a more reasonable level that they would then have to pay an actual premium on.

Not only that, but the minimum trade price is 65 cents/share (and up to 85 cents), which represents a 4.8% to 37% increase in that day's market price. So actually the so-called premium would be at a further discount than it already is if the Almonty shares continue up to 80-something cents in the next month. Given the really low volumes and free shares, that wouldn't be hard to achieve. They may end up getting this at more like 5-6 cents equivalent.

The mystery here is why ANYbody would approve this from the Woulfe perspective. That's what we need to figure out. Or, if the deal is designed to fail (I certainly will be voting against it and I wouldn't be surprised if it triggered a vote on current management betrayal and termination with cause) then the question is, again, to what end? To make it easier to swallow a higher but still low-ball bid like 12-15 cents? To try to bait out an offer from another company? Is it all a smoke show to get the $150k bridge loan until April when they can secure debt financing and repay Almonty (seems unlikely)?

When KGHM put in their bid for takeover of Quadra, it was considered by every analyst I read to be a low-ball offer that was sure to be the beginning of a bidding war. Instead, it went uncontested, management happily walked away with a nice severance package that had surely been pre-negotiated, and Quadra holders were stuck accepting less than half the NPV at the time. 

So I'm not sure what there is to gain, or what backroom deals and agreements are there, but I know that this stinks pretty badly. I thought better of Ned Goodman, but it appears that he's just as corrupt as the big Canadian bankers cartel he was whining forced him out of that business. 

It will be an interesting few weeks and a very interesting meeting if it gets to that point. I would not want to be anyone on the board or in management at that point.