Woulfe Mining Tungsten / MolybdenumWoulfe mining is to become a world leader in production of Tungsten and molybdenum outside of China producing nearly 10% of world demand. Warren Buffet's Berkshire Hathaway owned Iscar Metalworking Companies ( IMC ) recognized the strength of Woulfe's projected production and have created a Joint Venture agreement to buy 90-100% of Woulfe's Tungsten produced.
Woulfe has strong economics for the Tungsten sales and a further by-product of Molybdenum mixed in with their Tungsten ores. It is noted Woulfe has high grade Molybdenum deposits which are only measured with historical non-101 compliant records therefore cant be expressed in the NPV or listed as reserves until redrilled. Fortunately for Woulfe the Sangdong mine has throughrow records of the resource deposits and simply has to place the drill head in the recorded places to get the N-101 compliant rating.
Posco have been building a new Molybdenum smelter plant in the same town as the Sangdong mine "Yeongwol in the Gangwon Province". It is expected there will be an announced sales agreement when Woulfe upgrades its reserves to include the molybdenum.
POSCO NEWS LINK
https://www.investkorea.or.kr/InvestKoreaWar/work/ik/eng/nr/nr_01_read.jsp?no=608300001&l_unit=90202&bno=203070002&page=23&sort_num=3672
Woulfe has an expected income to be upwards of $100+ million per annum after expenses and before taxes. With a current NPV above 400 million and a market Cap of only a 100 million Woulfe is looking to be a promising investment of the future. The payback period for the Sangdong project is a quick 2 years.
Woulfe has the objective to further its mining prowless and become a Mid tier mining company by advancing its GOLD / SILVER mine ( MUGUK ) through a feasibility study and future production.
Brian Wesson (CEO of woulfe mining) has suggested there will be room for dividends and share buyback in the future as Woulfe's finances clear off debt from the Capex.