RE:RE:RE:For necomers and refreshing: Woulfe Investors Guide Nov. 12Great post Guerreiro. I agree. I think IMC is here to stay. Woulfe, with Dundee as its developer, represents a close, reliable, and economic tungsten source which not only benefits the IMC, but Korea and its people, their home turf. Moreover, Dundee benefits from a wealthy long term tungsten consumer/ buyer with strong "local" influence. These are strong common interests.
The coming month should tell the story. The following are the possible scenarios I envision:
1) Long term financing ("LTF") is already secured and Dundee's recent 350k was the bridge loan to cash flow Woulfe until the LTF is rolled out OR until 2/24/24 when IMC rolls over its loan again and provides Woulfe with enough additional capital to get it through until the LTF is completed.
2) LTF is sponsored collectively, by any or all of the following: Dundee, IMC, bank(s), and possibly even major shareholder(s). The financing vehicle: a combination of loan(s), warrants, debentures, convertible stock, and/or bonds.
I assume IMC will be continue to be a big part of the Woulfe story. Frankly, I don't see how IMC could currently get "out." The IMC loan comes due on 2/24/14. Woulfe can't repay the loan. Absent a LTF arrangement in place, I don't see anyone volunteering 10 million to buy IMC out. If some other major player was involved we probably would have heard about them by now. Dundee doesn't want to buy IMC out. Dundee wants to keep its "tungsten buyer" IMC in, and IMC wants to keep Dundee "its mine developer" in. They are mutually dependent. Both companies have good sized dollars invested-and at risk- in Woulfe. Of course, if IMC tried to foreclose on its Woulfe loan, I assume Dundee would have to step forward on the IMC loan to protect its 60+ million share interest.
Bottomline, I think details of the LTF are nearing final completion and will be announced whenever the major players elect to do so. The financing will include whatever if finally necessary to get this show on the road. Seg.