Woulfe Mining Corp WFEMF

RE: RE: The wording of August 31 press releases su

[mercurysmith]

TechOne--well said.  Sober_thoughts makes a good point that the n/r boilerplate wording is now reworded in a way suggestive of the offtake being much firmer now.  Still, none of us have seen a copy of the original offtake agreement, or any subsequent agreements of extension since then.  Yet the n/r boilerplate wording confirms production by Q4 2013, in circumstances where we all have been told that production will not start until 12-15 months after financing.  For production to start by December 2013, then financing needs to be in place some time between October-December 2012.  No bank financing will be available before IMC first confirms the offtake and pays the next $30M.  IMC is to have 60 days after confirming the completion of the dd to provide the next $30M.  Until IMC actually pays that money, there will always be room for some uncertainty as to their level of commitment.  If that money is not paid by the end of October, then the chances of production by December 2013 decrease significantly.  Every indication is that IMC continues to talk the talk of being all in.  In the end, it will be the money that does the talking (payment of the $30M).  I figure WOF sees little value in making a n/r before the money is on the table, given it is IMC and not WOF that is in control of when that money will be paid.  Penny stock is always a calculated risk.  That risk is present with WOF too.  However, knowing the resource really is there (tungsten supply) and knowing IMC has the doubling of their Korean toolmaking plant already under construction (tungsten demand) and knowing the Korean bank is willing to fund the balance of the project (after IMC pays the next $30M), this calculated risk seems like an acceptable one for the potential to see WOF go from a penny stock to a dollar stock with production.    I am prepared to wait patiently because the fundamentals seem so promising and worth the risk.