Woulfe Mining Corp WFEMF

Bank NR

[Adrammelech]

So it is 6 weeks left or is the 150 Mll being forwarded now? Either way sounds good but the NR is kinda vague..

Note that is almost .50 a share in cash value (I mean temporary debt)

GLTA Longs

Adrammelech

[clk_vested]

Well, the title could vaguely imply that the financing is happening now, but the article makes it fairly clear that the bank has about 4 - 6 weeks of DD left, whereupon the financing should be completed. I suspect, what is left unsaid here, is that the bank has effectively *started* it's DD based on the fact that IMC has *completed* theirs, and that probably (this is conjecture on my part) the

[mercurysmith]

Clkvested.  I agree totally.  The bank dd was never going to start until IMC was all in.  This n/r today is still comforting because it is confirming at least that in the interim, the bank has had no change in plan.  It is also good news because it suggests to me that IMC may not take the full 60 days to start their portion of the financing.

[geologyfella]

I suspect you nailed it. And, wouldn't it be interesting later, upon announcement of the dramatically increased mine life, that Korea Zinc tries to buy out Sangdong Mining for say over $3 per share....Just sayin'.....GLTA LONGS>

[Mark101]

Great news again today, it was said before that bank financing and IMC cash could take up to 8 weeks after IMC completed their DD, so everything is proceding as planned. All the stars are lining up and WOF should be totally de-risked within the next 2 months ... At this point, I'm very comfortable with this investment. Congratulation to all the longs, we are looking better every day !!  

[SmitherTime]

I get the feel that the bank has done most of their "on the ground" DD already.  Thus when Brian says it will be another 6-8 weeks of "formal due diligence", that sounds like a combination of A. Having a second group of people come to confirm what the first group found initially, and B. A whole lot of paperwork.  Pulling together a $150 million loan doesn't happen

[ark88]

I think you guys are reading too much into todays NR. If the info was quoted by someone from the bank, that's a different matter altogether. Instead, we have Woulfe, the borrower, stating how long the loan application will take which in itself is kind of meaningless.   The takeaway for me is this. The loan application/approval process is in 2 parts; first, the bank doing it's dd