Woulfe Mining Corp WFEMF

APT Price? - Junior Miner...

[dr_airtime]

They need to get more explicit on the NPV Assumptions

If anyone calls IR today (I'm slammed) find out the following and report here:

- LT & ST APT Price

- Confirm that NPV based on only 11.5 years of probably reserves (likely)

- Is this based on 100% or 75% Woulfe ownership of Sangdong (likely 100%)

 

Junior Miner - if you update your model today let us know what you infer for an APT Price.

The pre-tax NPV8% is $400M today, likely based on an 11.5 year mine life, likely due to Probable reserves.

Remember that the Ross Glanville valuation report assessed a post-tax NPV 8% at $200-$400M at APT $375 and 21 year mine-life using a 50% REDUCTION TO NPV to account for risk because prefeas/feas had not been completed. Thus, we could infer that using Glanville parameters the NPV8%-APT $375-post-tax-21-year-mine-life is now $400-$800M or $600M for the mid-range.

From $600M you need to adjust for 75% Woulfe ownership and subtract debt for NPV to shareholders. This still gets us to around $300M as NPV8% to shareholders. ([75%*$600M] = $450M less ~$150M in debt).

Let me know your thoughts. The wording on the Glanville report is quite fuzzy too.

[dr_airtime]

Here is the Glanville PR. Pretty sure report on SEDAR too:https://www.woulfemining.com/s/NewsReleases.asp?ReportID=472702&_Title=Woulfe-Mining-Valuation-Opinion

[junior_miner]

Dear dr, It was hideous report and it's a real pity since we all have put so much effort in DD. Operating costs have doubled from what they were in scoping study. Mining method was changed from room and pillar to more costly one. Flotation costs went up more than 50%. My model implies $420/MTU. And their APT plant cost is way too low. It must be only opex, which can only mean they are not

[shiningstar2]

junior_minor DD means very little in this congame, it's a house of cards. speculation game where those on stage tend to over-promise, under deliver but ALWAYS get their payday...while the little losers stand outside and watch their money get arrrsebanged left, right and center.

[Mark101]

Again, more bashing without any substantial evidence ..... just sounds like blah,blah,blah to me !!  

[billlc]

...Junior miner, good cost estimate of $233/MTU. I get $231 as follows: their $61.84 x 1.2m = $74.21. Plus the $5.06m/yr mine sustaining. Then add straight line depreciation of 151/11.5 = 13.13 getting a total of $92.40m. Divide by .4m MTU gets $231/MTU. ...The annuity factor for 11.5 years at 8% is 7.34134. If I use your APT of $420 then revenue = $168m minus $92.40 gives $75.60/yr. Multiply by