Woulfe Mining Corp WFEMF

M-P article

[74volfram]

OK guys, I should not be doing this and could get my company's (expensive) subscription revoked.
Here is the FULL TEXT of the M-P article. to the M-P police (they do check), I beg forgiveness ...  I will NOT do it again.  Next time you will have to make do with my words.  I am doing it only because the manipulators are out in force tonight with all too visible impact (negative advertising is very effective).

SÃO PAULO (Metal-Pages) 05-Jan-15. Canada's Woulfe Mining has said it expects to start production at the underground Sandong tungsten mine in South Korea before the end of 2016.
"From the month of June we are giving ourselves 20-22 months to put the plant into production," Woulfe CEO Michel Gaucher told Metal-Pages.
Development at the brownfield site is earmarked to begin in the next six months.
Under Phase 1 of the mining plan, which will see engineers use three of twenty possible mine levels, capital expenditure at the site runs to $75mn.
The company is planning to raise funding from debt and equity, in addition to that already agreed under an offtake deal with billionaire Warren Buffet's IMC.
In February 2012, Woulfe and IMC agreed to establish a Korean joint venture company owned 45pc by Woulfe and 55pc by IMC.
The APT joint venture agreed to acquire no less than 90pc, and up to 100pc, of Sangdong’s tungsten under the offtake deal guaranteed by IMC, which also later agreed to spend C$70mn ($59.6mn) to help build a tungsten APT processing plant.
In December, IMC agreed to extend the term of an existing C$10mn loan to September 2015 to allow Woulfe to complete an advanced, amended feasibility study and to complete its Phase VI drilling programme on the wide, high grade, Hangingwall deposit.
At the same time, Woulfe reported latest drilling has revealed high grade tungsten across wide intercepts at Sandong, which produced tungsten from the 1930’s to 1992 when it closed due to low prices.
An April 2012 study showed that a combined molybdenum and bismuth concentrate (containing gold) could also be processed at the site as by products.
Tungsten APT prices were last assessed at $300-320/mtu by Metal-Pages as the industry closed down for Christmas 2014.