RE:Something like this needed to happenVoltram, thanks for the detail and your impressions on the NR today. It was another great read.
As I recall from the memorandum of the understanding (MOU), as a condition of the IMC loans, Woulfe was utterly paralyzed by extremely tight legal language from virtually going to the restroom without prior written authorization from IMC. Notably, without IMC consent, the MOU prohibited Woulfe from entering into any significant financial, marketing, or stock transaction of any kind (amongst many other potential named actions which were prohibited) which could, in any manner, potentially impact IMC's vested financial interest in Woulfe. In essence, IMC retained secured creditor rights. For this reason, I have assumed that since that MOU was signed, Woulfe never took any significant action whatsoever without prior IMC advice and consent in fear of an agreement breach and the loan being called. For this reason, as you, I have to believe IMC is and has been all over this transaction and will continue to be until this entire Woulfe deal is done or IMC leaves it. I think IMC is the really money and brains behind the operation and the timing on this deal is all about tungsten prices and nothing else. I suspect IMC could easily buy/fund 50 Woulfe Mining operations if it chose to do so. Buffett paid 6 B USD for the company. In contrast, I think Dundee and Almonty are in a different league. In the meantime, while we shareholders wait, Dundee bids a fond adeu, transfers its Woulfe unrealized loss basis over to Almonty shares dollar for dollar, and turns over the management game hopefully to a group more astute in the field, all with the blessing or mandate of IMC. Seg.