Woulfe Mining Corp WFEMF

Korea Zinc

[professorchaos]

Given how easily Korea Zinc let go of Sangdong, it seems they weren't ever really that interested in it. Which is surprising, since other companies are scrambling to secure strategic tungsten supplies.But given their investment in Woulfe, they must be interested in something. My bet is they were willing to finance Sangdong in order to have a clear shot at Yeonwha, when it's eventually developed. Keep an eye out for info that informs this hypothesis.

 

Cheers

[mercurysmith]

Korea Zinc was interested, but fell on hard times and could not compete with the multiple other offers Wof had.

[professorchaos]

Yes, what I mean is, Sangdong wasn't the #1 priority for KZ, because they don't need it as badly as TaeguTec does, so they wouldn't even want to compete. For KZ, it Sangdong was a discretionary investment, not a core business activity, the way it is for TaeguTec. But KZ remains invested in Woulfe, which hints that maybe being invested in Woulfe *is* a core business activity for them. &

[mercurysmith]

Interesting hypothesis professorchaos.  Do you have any understanding of Yeonwha beyond the general statement on the company web page?  I must admit I haven't considered the lead-zinc Yeonwha project much.  I see the option was purchased for the equivalent of $100,000 and it involves several formerly connected mines, yet Woulfe's involvement seems to be primarily focused on

[mercurysmith]

The Hallgarten report of December 19, 2011 seems to suggest the resource for Yeonwha was not the reason it shut down according to the 1991 report by KORES given just prior to the cessation of mining there.  I really don't know too much about Yeonwha given Woulfe has always indicated the pecking order was first Sangdong and second Muguk before addressing the third string Yeonwha. 

[Majormac79]

You know there are rumblings in the business news about an upcoming ZINC SUPPLY DEFICIT in the next couple years. So for Korea Zinc to have an interest in partnering in the lead / Zinc mine is a real possibility. Maybe just a joint venture in that particular mine in the future but given woulfe's income from sangdong I dont thing KZ will have much bartering power with off takes

[kyoung28]

mercurysmith, I have no clue about Yeonwha zine mine. All I I know is Yeonhwa is very small town in Yeongwol, and it is about 30Km to the west from Sangdong. Historically, the cities near by Taebaek Mts were very well known as coal mines and the distance from both Sangdong to Taebaek and Yeonhwa to Taebaek are only within 1 hour driving distance. Taebaek is east from Sangdong, only about