Woulfe Mining Corp WFEMF

RE:RE:RE:Cancellation of APT agreement

[mercurysmith]

chizzles, the reason that news wouldn't change the s/p is that even though it saves $15.75M, it forfeits the potential profits of the 45% ownership of APT.  It is a saw-off.  That money was never going to be paid by Woulfe in advance of the APT plant.  It was to be paid by future production revenues.  In other words, it was a potential future debt which now won't need to be paid, but will result in a bit smaller slice of the pie for Woulfe once everything gets operational. Woulfe will primarily make their money from the mining and not the processing.  It is part of Woulfe downsizing expectations and acknowledging that they need the deep pockets of IMC to make a go of this mine.  Hopefully it is also a sign that IMC is considering more active involvement now.  Time will tell.