RE: RE: August 31 Not surprised at all with the news today, it is obvious that without revenues, we need more money to stay in business. Even if IMC signs the deal tomorrow, like Ark88 said, we could have to wait another 60 days before any cash gets transferred to our account.
Mr. Buffet has a lot of faith in the US economy and I wish he would show some confidence in South Korea by endorsing this deal. I hope IMC is not just buying time waiting for the global economy to pick up cause we could be sitting ducks for a long time …
One thing that can potentially move this project forward is the WTO suit the European Union, the US and Japan has launched against China in regards to rare earth metals. I think there’s news coming around August 22 on that but I can’t find the article … the bottom line is if the Chinese win we might see Japan, the US and European countries start stockpiling rare earth metals including tungsten, which could push prices through the roof … I’m betting on this one … and I hope it will bring on other options for WOF should IMC want to play tough with us … yes the IMC deal is good for us to get this project off the ground BUT we could do better …
All in all I’m ready to wait this out as I didn’t plan on selling this until WOF gets into production anyways so, I’m comfortable with my position.
One question though, if things are all good with IMC … then why don’t our insiders (Korea Zinc, Resinco Capital Partners, Colonial First State) cough-up the 5 million we need to stay afloat ?????
Why go to Dundee for cash ??
Just my 2 cents … GLTA !!