RE: What has changed? Nice read, Mercury. I would add a number 8 to your list: "8. Woulfe's lack of control over when this financing gets completed by IMC and the bank has not changed." Understandably, most are frustrated by the lack of news. I am.
However, given the company's prior (irresponsible in my view) representation of a NR "before Christmas" that never matured, I'm surprised that share price didn't react more negatively than it has, at least on a temporary basis. The stock has broken .32 support, but not with much velocity, and Christmas has come and gone. As you note, the low share volume selloff seems to support that long term investors accept that the financing news will come when it comes. In the meantime, as you say, the fundamentals remain intact, except for some tungsten price slippage, which doesn't do us any short term good.
Next support level on the chart is .28. I certainly agree with Ark, Major, and others that patience is the watchword. I think it makes more sense to rely on what we know, rather than what we think we know, or to ride an emotional, day to day, short term roller coaster premised upon baseless speculation of future share price. I agree with you that, not unexpedtedly, large investors are not participating in the stock's short term swings-except potentially to buy. IMO, Fear, not logic, will take retail investors out of this stock since both the long and intermediate term fundamentals and technicals appear good. As demonstrated by the following chart, this stock clearly remains in an unbroken long term 4 year uptrend. For perspective, I have circled the quite short term trading range over which our anquish exists. From my view, in the scheme of things, the circled area represents a very short, snap shot in time, although it certainly may not feel like it right now. Personally, and based soley on my perspective, dips like this represent a good time to accumulate a good, long term investment.
https://stockcharts.com/h-sc/ui?s=WOF.V&p=M&yr=4&mn=0&dy=0&id=p76855958596&a=286837346