Woulfe Mining Corp WFEMF

Question

[fattail]

Does anyone know the math that they used to get to the 55 cents for the "Approximately equivalent share price of deal related to subsidiary" on Sangdong Project Funding page? I just can't get a handle on what it actually relates to.

[nebbya]

The $.55 "Approximately equivalent share price of deal related to subsidiary" is the price that IMC paid for their 25% of the equity in Sandong Mining Corp.  In other words, they paid a premium for that equity relative to the current market share price.     Does anyone know the math that they used to get to the 55 cents for the "Approximately equivalent share

[fattail]

So they would have to be valuing Muguk at $60M to make this work. Total company value = $165M less Muguk @ $60M makes Sangdong $105M for the 75% interest and they put up $35M for their 25%. Sangdong @ $105M & Muguk @ $60M doesn't make any sense to me. Is that their math though? Or am I still getting this wrong? Probably!

[fattail]

Sorry! To get to the $165M number I took 300M shares o/s @ $.55 which is the number in question.

[mercurysmith]

Fattail1, not sure what you are saying???  The April 2012 update refers to the August 2011 Glanville estimated value of Sangdong alone at $575 million at the time of the completion of the BFS, with a $135 million estimated construction cost.  These numbers will be fine tuned with the BFS report coming out next Tuesday and could potentially be higher.  The fact that IMC

[Majormac79]

IMC has gotten a great deal and so has Woulfe. The fact is woulfe needs off-takes to get the financing to develop Sangdong. Without IMC this wouldnt have happened so smoothly, they offer both off takes and fiancing for the project matching or beating the bank's interest rate terms for the loan.

[fattail]

I agree with what both you Majormac and mercurysmith are saying. And believe me, I am overcommitted to this company and perhaps that increases the desire to understand the information the company puts out on its new presentation. So to respond to you mercurysmith, how does one value the offtake agreement as consideration especially as Brian in the conference call indicated that the transfer