Woulfe Mining Corp WFEMF

my view on woulfe

[74volfram]

First time posting here – I signed in for an account a few days ago.  Here is my contribution to the overall discussion.
1.  The work at the mine has been executed throughout this year fairly close to "as planned".   The steps taken are consistent with what should be done in order to start the mine in an environment of very limited market financing available and somewhat deteriorating tungsten prices.  This is due to expectations being low for a quick rebound in commodity prices.
2.  The new management saw the dry spell already last year and moved away from the large mine anticipated by previous management - based on low cut-off grade and a large processing plant model.  The cost of production for such mine might have worked in a robust tungsten environment, but it would not be sustainable with what is expected now.
3.  The new mine assessment seems to have been done more carefully than the previous one. Based on what I have read, the main levels that were actively mined in the past and are currently available (above water level) do not have enough minerals left to justify the “large mine with low cut-off" model of the previous study. There are however high-grade locations in the available levels to allow a "small mine with high cut-off" model, capable of producing enough concentrate at low cost to justify opening the mine and gradually dewatering the lower levels, where the bulk of the un-mined resources are.
4.  The "hanging wall" issue.  This is a portion of the currently available mine (above water level) that was not mined to a significant extent or even properly sampled in the past.  There is geologic inference to reasonably speculate that there are high-grade tungsten veins easily reachable in this formation, but it needs to be proven beyond what has been done so far.  The near-term valuation of the producing mine hinges on the actual degree of mineralization of the "hanging wall" level, which is still “inferred” at this time, but will be “indicated” or “measured” before the end of the year.
5.  I believe the mine prospects were oversold as late as two years ago by the previous management based on the assumption of continuing high tungsten prices.  Now we have a reasonable, if low-key, attempt to get the mine to production on a basis that can be justified by more realistic current and near-term tungsten price prospects, with an eye to gradually returning the mine to old levels of production.  The value of such a working mine is open to speculation but it is probably more than the 10M currently reflected in the stock price.
6. Stock price. This issue is very volatile due to the very thin market for shares in the CSE and the limited access to CSE trading outside Canada.  Some of the recent price drop may be related to lowered near-term expectations from investors on the basis of the summary report and the subsequent MG&A.  Additionally, the information coming out of the company is barely at the “legal requirements” level.  For instance, the repplacement of the mine manager could only be indirectly inferred from the monthly reports.  There is no promotion of the stock because evidently none is needed in the eye of management to bring the mine into production (the remaining steps are quite predictable and additional funding can be obtained by dilutive placements with insiders).  In other words, the large holders have no interest in a share price increase at this point.  So a lot of the stock price volatility is the result of mis-information and manipulation and the sudden drops play in the hands of the current large owners who are likely to do future equity placements.
7.  Stock price manipulation on this board.   I have scanned long and wide through the board since I have been interested in this project.  The cumulative amount of shares held by this bulletin board contributors (which the board participants have disclosed a while back - not wisely in my opinion) is quite large compared to the daily volume, so the “board owners” are potential targets of price manipulating postings (positive or negative).  Some attempts have been and continue to be particularly egregious, and this is going to get even more intense, as tax loss season progresses.   
8. (final point).  I will not disclose how much of Woulfe I have - or what my plans are. My reason to post here at this time is to try to bring some balance in the on-going discussion on this board, which I believe is specifically important.  
It is in the end the responsibility of the investor to learn enough to decide whether or not to invest. There is enough available recent information on the company that is publically available (SEDAR-sourced in particular) and hardly any of it is promotional in nature or hyped.  With some effort one can figure out reasonably well what is the potential for this project and if it fits one’s individual risk/reward objectives.