Woulfe Mining Corp WFEMF

JV APT hangup

[74volfram]

My thoughts only. The way it was structured, the APT JV was not going to be a revenue maker. It was conceived as a one way pipeline from mine (Woulfe) to customer (IMC).  IMC was going to loan Woulfe the money to participate in the JV and Woulfe was going to pay back in tungsten or extra shares.  The JV was a very good deal for IMC, as they essentially could get a captive APT plant for half price. Given Woulfe weak hand at the time, IMC was right to demand that and Woulfe did not have much of a choice.  I will speculate that this was the general hangup that Dundee saw and did not like in the original business plan: they were not going to pay 15-20M for something that would have produced little or no revenues to Woulfe, just to close the deal with IMC.  This is now out of the way and IMC is not insisting on the JV, so Woulfe can finally be done with seemingly perennial preliminary work and maybe get the mine going by Summer 2015? production in 2016? on time for the next tungsten upswing?