Woulfe Mining Corp WFEMF

RE:RE:RE:RE:Big Picture.....

[kilgor]

Greatest story of all time...... I am not as optimistic as you are. I think we will be around $2 over the next 3 years and perhaps reaching a ceiling of $4 which is really contingent upon how financing is going to be done for building the mine.  Generally speaking, preferred shares are a form of debt for a company and our management looks like they want to use this as a facility to raise cash quickly, whenever they like and without a vote from the shareholders.

Currently there is approx 350M shares outstanding. As soon as IMC signs on the dotted line and transfers the funds, the number of outstanding shares increase to 470M (as they now own 25% of the resource).  If Korea Zinc wants to excise their right to maintain 10% ownership, then that will increase the number of o/s to 482M [ (470M - 350M) * 10% ].

We basically had a line of credit with Shinhan Bank of $150M. If our management opts to use preferred shares to finance the building of the mine and lets assume the share price rises to $0.50 after IMC signs, then that will add another 300M shares of which KZ will purchase an additional 30M share to maintain their percent ownership. We are now up to 812M o/s.

Our last official estimate of our NPV was $535M for an 11 year mine life. That basically gives us a share price of approx of $0.66. If they officially increase the mine life to 44 years, you are looking at a share price of approx $2.50.

It is going to take a while for our share price to appreciate to $4/share as I think we will be taken over by Buffet in our 4th-5th year of mining, after all the heavy lifting has been done and everything is gift wrapped.

So getting rich off this stock...... I think that is questionable, but one could only hope.