Woulfe Mining Corp WFEMF

RE: RE: RE: RE: RE: RE: Insider Activity

[mercurysmith]

At the Vancouver trade convention the impression left was that even though Korea Zinc continued to be an interested party as a major shareholder, any plan of Korea Zinc buying out the tungsten mine was no longer at the forefront.  However, I do remember what our Korean shareholder friend Young said about how companies in Korea, including Korea Zinc, that they will never consider a buyout before the testing and feasibility report is complete. Young says that is simply the business mindset in Korea.  However, with Korea Zinc having a member on the Wof board of Directors, one would think they would have some good indications regarding the upcoming FR and the need for the offtake agreement sooner rather than later.  However, at the Vancouver conference, it sounded like Wof had other serious potential offtake considerations outside of Korea as well and that seemed to be the main focus at that time, thus my earlier comment that I didn't think Wof was in any hurry to sell the mine.  It really sounded as if Brian honestly planned on getting the offtake agreement from somewhere, which would then lead to getting the financing, which would lead to Wof doing the construction of the mine as opposed to selling it.  To that end they have brought a heavy hitting Korean company on board to oversee the construction site.  That is not to say wof would not sell the mine if the price was right, but they also seem to be prepared to go the distance on this mine without any sale.  I think either way it is a win win for us shareholders.  I lean towards a Korean company like Korea Zinc having a offtake agreement, but if they wait too long, they might find themselves playing second chair.  I expect the offtake agreement will follow almost immediately on the heals of the FR and within a few days thereafter we will hear about the full financing set up for the 135m needed for the construction.  Perhaps 3 big NR's within 10 days of each other and the fruit will be a further doubling of the stock price.  Canon you are also very correct that the fast tracking of production remains the key--the price of tungsten is high and the mine needs to get up and running before the competition--the Hallgarten report was really clear on the critical importance of the fast track.