GREY:WFEMF - Post by User
Comment by
Sir_Holleron May 17, 2013 11:27pm
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Post# 21412729
RE: Woulfe Mining Provides Update
RE: Woulfe Mining Provides Update There is too much there for WOF to have attracted the money and interest it has over time including from the likes of Dundee, including their additional purchase of shares recently, and Ned Goodman. They know mining. Marlow also said he was pleased with the progress in the release one month ago, and IMC was to provide additional funding recently after previous knowledge of the project. And I don't think they had to run an extensive investigation to discover they needed to raise more money now. The issue may be as simple as the need to run some additional infill drilling to boost confidence further in the ore body to a typical gold standard commercial level. Wasn't one of the known issues with this mine always that they were trying to do it all with a lesser standard of certainty in terms of drilling to save costs? Maybe it is 75% certain and needs to get up to a 90% level of confidence. The majority of the risk would appear to have been already accounted for to have attracted the players it has, and why would the players disappear. If all that is left is another 16% of incremental proof or risk reduction...