Woulfe Mining Corp WFEMF

4-6 weeks, has now become 7 weeks

[M1DAS]

I wonder if Shinhan Bank is ambivalent about pulling the trigger ?!?!? Time will soon tell ?!?!?  GLTA                Woulfe Mining Corp., further to its press release dated Sept. 20, 2012, confirming that International Metal Working Companies BV (IMC) has confirmed its satisfaction with the due diligence results on the Sangdong project, is now moving forward with its proposed 168-billion-won ($150-million (U.S.)) debt financing with Shinhan Bank, as announced on July 11, 2012. Shinhan Bank is one of the largest commercial banks in Korea. On completion of formal due diligence over the next four to six weeks, the parties are expected to move to a binding debt financing agreement. The Sangdong mine and process plant will be financed with $35-million in equity from IMC and $150-million (U.S.) in debt from Shinhan Bank. The APT refinery joint venture company will be financed with $35-million (U.S.) invested by IMC and by Woulfe through debt and equity. Brian Wesson, chief executive officer and president, commented, "Woulfe is now focused on moving the project development forward and finalizing the financing as quick as possible."