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Bullboard - Stock Discussion Forum Woulfe Mining Corp WFEMF

Woulfe Mining Corp is a mineral exploration company. It is engaged in the acquisition, exploration and development of mineral properties.

GREY:WFEMF - Post Discussion

Woulfe Mining Corp > German Presentation
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Post by mercurysmith on Nov 11, 2012 12:12am

German Presentation

Did anybody following Woulfe on Stockhouse attend the recent presentation in Germany?  I assumed it must have been an update from the June presentation still on the Woulfe web page, but that June presentation has yet to be updated on the webpage.  Can some German speaking person do a little web digging regarding what was presented at that conference (in addition to the interview of Nick Smith)? It may well give us a better understanding of what is about to be presented at the 7 city corporate presentations starting Nov 19th.  This is the type of area where big fish can so much more easily do dd that we small fish can, by sending someone to that presentation.  I wondered if anyone from Dundee may have attended.

 

Also, have we ever received any definitive answer to why the original proposed bank line of credit has been increased from $110M to $150M?  Some speculated it might be in part to put heat on IMC to hurry up the $35M payment or run the risk of having Woulfe go at it alone.  I doubted that theory, because I believe IMC really wants the tungsten supply and Woulfe really wants the IMC offtake in order to qualify for the bank loan.  I am just uncertain of why the $40M increase in the bank line of credit, in circumstances where there is now a suggestion that using Korean costs, it might cost less than earlier anticipated to be up to full production.

 

Lastly, I strongly agree with the poster that questioned why Woulfe would go on a 7 city corporate presentation tour only to be on the defensive the whole time as to why the IMC money has not yet arrived.  It is much more logical that Woulfe will be on the offensive side, with confirming they now have the funding to lead to construction of the plant and production of the tungsten by 4th quarter 2013.  I just don't see Woulfe spending all that money by November 23rd to buy the land unless the financing for the whole project will be in place before that date.  They do have sufficient cash to go through with the land purchase, but I doubt they would be spending that money now for that purpose unless they have the funding for construction.  Just my thoughts for the weekend.

Comment by Majormac79 on Nov 11, 2012 1:17am
Korea zinc just like IMC had a time line which they were able to qualify for a given deal, it is entirely possible that woulfe got to the next stage whereby the imc deal is only required for sales and not for a JV since the BOK is willing to loan based on woulfe's equity. This would allow woulfe to maintain full ownership and still make sales to IMC via a minor discount to market. Just my ...more  
Comment by mercurysmith on Nov 11, 2012 12:52pm
Majormac, that was exactly my point with my last email.  It is clear to me that IMC and Woulfe intend to have a significant business relationship, but that would be the case if all they did was have the offtake agreement as opposed to the $35M for equity in the mine and/or another $35M for equity in the JV for the powder.  That is why I was asking if we had heard yet why the loan from ...more  
Comment by Majormac79 on Nov 11, 2012 2:10pm
If anything the cost of start up and production is reduced. I think the signs are pointing to IMC being reduced to a off take deal as opposed to JV partner which is good for all shareholders.
Comment by Dickles on Nov 11, 2012 2:21pm
I agree it would be bettter for all long-term shareholders but it may just be a case of the bank offering more money because the value of the mine has increased. I'm pretty sure it will be set up as a line of credit or partially as a loan and the rest as a line, so it doesn't really cost us anything unless we borrow the money but it sure is nice to have available if it's needed. GLAH
Comment by Flow23 on Nov 11, 2012 3:51pm
Just a guess, but they could intent to use the additional loan for pushing ahead Muguk & Co.  The Loan is given to Woulfe Mining and not Sangdong Mining Corp.
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