GREY:WFEMF - Post by User
Post by
74volframon Jul 08, 2015 10:29am
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Post# 23902649
quick follow up
quick follow upI do not think our old board had the welfare of shareholders (only) in mind when they rejected the first offer. Dundee wanted out and Woulfe's board was really all Dundee (except one) and they wanted (mostly) what Dundee wanted (likely cash to leave in addition to AII shares, which they got in this second round)
Almonty paid more than 5M in cash and shares to have its people in the board of directors at Woulfe. Consequent to its share sale Dundee lost the right to have majority of board directors at Woulfe. Dundee CEO at Woulfe (Gaucher) had to resign. Same with the son of Goodman.
The new offer is within the range of the old offer, except with a fixed conversion rate of AII and WOF. Woulfe shareholder will own 40.2% of the combined A&W company, no matter what the SP of Woulfe or Almonty is at close of the deal.
Most of us I am sure wish we should get many times what we eventually receive from our deals every day. I know Sangdong is roughly the equivalent to the three combined Almonty properties. However I do not have real tungsten mining expertise and Almonty does, and that is maybe worth the 10% difference.
I could be wrong, but I expect to get a whole lot more from the A&W merged company than I could from WOF or AII separately.