Woulfe Mining Corp WFEMF

August 31

[TechOne]

The fact that they have August 31 as closing date suggests that actual contract with IMC is probably not imminent..   Project time lines have slipped quite a bit with all the delays.. Perhaps, supply demand and IMC's internal forecasts may be pushing it back.. Debenture probably did not get any where which is not exactly reassuring but who knows.. Financing a junior is not always a smooth process..

Hopefully, there are no questions re. the viability of the project itself and this is just IMC trying to squeeze all they can since Woulfe is in no position to play tough..

[ark88]

I'm thinking otherwise. I think if the IMC deal is to happen, it may happen soon, like before the end of this month? Why? it's the amount of the PP and to a lesser extent the tight closing of the PP. $5 mil. is petty cash. If you're tapping the market for cash, why would you ask for so little. Let's not forget that when IMC signs on, they still have 60 days in which to finalize the

[TechOne]

At this stage, very little share holders can do.. Just wait it out even though it has been a really long drawn out process..  Since I already have a large position,  no plans to add until the final and definitive deal is signed by IMC without any 'Ifs and buts' and other near term milestone such as deal with local authorities are executed.. Clearly, we are now talking year end to

[Mark101]

Not surprised at all with the news today, it is obvious that without revenues, we need more money to stay in business. Even if IMC signs the deal tomorrow, like Ark88 said, we could have to wait another 60 days before any cash gets transferred to our account. Mr. Buffet has a lot of faith in the US economy and I wish he would show some confidence in South Korea by endorsing this deal. I hope IMC

[mercurysmith]

I agree Ark 88.  The amount is just enough to keep them afloat until the $30M from IMC, which will come 60 days after the offtake is firmed up.  Then the bank debt financing comes a month after that.  If the offtake isn't firmed up soon (in August) then $5M will not be enough to keep Woulfe afloat with their ongoing exploratory drilling for more than a couple of months.  

[Goldendream]

                 It is very unfortunate to have to comment that " The Global Economy" is very likely influencing IMC's DD, but things are not well abroad or on the home front these day. How many of you have heard the lastest upset. That being the impending layoffs ( no small number ) at the " Boeing Aircraft Company". These are

[mercurysmith]

One final point.  The former $20M debenture offering was for the purpose of interim working capital and at that time it was to cover a 90 day window of needs before IMC paid the next $30M.  The PP is also for interim working capital, so logic tells me it is covering a much more narrow window of time than the time to be covered by the debenture.  This PP is a very short term fix for

[mercurysmith]

Goldendream, you are bang on.  The dd seems to have more to do with the global economy than with the accuracy of the reports claiming tungsten is available in Sangdong.  When GDP is up, then the demand for tungsten is up--unfortunately, the converse is also true.  IMC wants this offtake, but they see it in their best interests to stall out the offtake for a while, knowing there will

[ripantuck]

Interesting that the very guy we have been discussing is most famouns for saying something to the effect that one should buy when everyone is pessimistic and all the news seems bad. However another old saying is that the market hates uncertainty.  That is why I am amazed that Woulfe is holding at .20 for the most part.  Things couldn't be more uncertain right now.  This tells me

[ark88]

One extension is understandable, but missing the second deadline (if Woulfe's website is to be taken at face value) certainly makes me think that it has less to do with the contents of the report but rather the structure of the deal itself. I'm leaning more towards IMC requesting changes to the terms of the deal. If this in fact is the case, I hope Brian takes less cash upfront (increase

[Goldendream]

                           The present Global economic situation and the Economic Condition's in the U.S.A combined with the up coming Presidential Election are a brew that has breathed new life into one of the most NASTY WORDS in the english language " PROPOGANDA".   All investers doing their own DD better be