RE: Woulfe and tungsten If you want to talk dilution, I can give you one of my winners, Aurcana Corp.. a silver company.. I bought into Aurcana at .12 in 2009.. for the longest time, mangement talked and tried to develop a second mine at Shafter, Texas by trying to keep the dilution to minimum but just could not get the financing even though payback was as short as 12-18 months.
Management finally gave in and diluted the existing share holders.. BIG TIME.. share outstanding went up by 200% or more and today, share outstanding is at 500m or there abouts, since I have lost track of the numbers.. Shares were issued around .30 and later around .50, options galore, management rewarded themselves handsomely along the way.. You should check the discussion on Aurcana thread.. Every one was very upset and even today it is a sore point.. But then Share price have gone up from .12 to 1.17 today because Shafter is finally near production and their old existing mine has turned in some exceptional numbers as well..
The point is, it is easy to be an arm chair critic.. Getting a junior come to life is not that easy so yeah, I would say you are reaching a bit with broad characterization.. Only thing that is unknown at this point is who bought the shares that were sold.. If it is an insider, then we will see the filing within a specified time and if it is a new share holders, under reportable limit, we will never find out and I don't see anything particularly aggravating about it..
I was not crazy about seeing a loan by the BOD but then we are not privy to the context and rationale behind it..
I think WOF has done a decent job of getting this far.. After selling the last shares, the CEO and his wife has 4m shares to their names and 20m shares in options if I remember, so they would do fine if WOF goes all the way.. FWIW.. My last post on the subject..
We also have few institutions with large positions so I am sure they are going to watch this unfold as well.. It would be more interesting to see what transpires next week with ground breaking with first blast..