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Woulfe Mining Corp WFEMF

Woulfe Mining Corp is a mineral exploration company. It is engaged in the acquisition, exploration and development of mineral properties.


GREY:WFEMF - Post by User

Comment by ark88on Feb 14, 2013 11:45am
230 Views
Post# 20988648

RE: I Think

RE: I Think

I agree with your take on NG. However, my gut feeling is that the IMC deal may not happen before month end. As far as I can recall, there's no mention of a deadline to negotiations. The month end is related to the term loan, which the markets naturally and correctly connected it to an artificial deadline to the negotiations.

Surely, I have to believe that part of the conditions in the original agreement with IMC and the Term Loan includes a benefit to IMC for providing the loan, such as first right of refusal. Once the $5 mil is paid back, then it should be a clean slate for the continuation of negotiations, that is IFboth parties want to continue.

Something happened between Nov/Dec of last year when Brian was publically touting that the deal was almost there to today with NG/Dundee coming on the scene. That something has to be IMC stalling or changing conditions that would make the Feb 28 a very significant date. It could also be Shinhan, but I'm inclined to think it's IMC as they have something material to gain from pressing negotiations out to the "deadline".

 

In any case, thank goodness that NG/Dundee is here, providing good support between $0.265-0.275 since the annoucement. I think those bids are there in support of the Debenture offering. Having said that, my preference is still with the IMC deal being done.

GLTA

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