Woulfe Mining Corp WFEMF

News- $10 Million Convertible Debt Offering; Appoi

[1option1]

https://www.juniorminingnetwork.com/news-releases/127-tsx-venture/wof/7829-woulfe-announces-10-million-convertible-debt-offering-appoints-ned-goodman-to-board-of-directors.html

[Majormac79]

Well it looks like if IMC was trying to run us over a financial cliff they just got a large set back as Woulfe can afford to pay them back and have funds to run idle for a LONG time if needed. 

[$HAWK]

This is good and positive action to clean up the management and communication, I am surprised it had not happened earlier, if i had 40 M invested I would want more of a say about the operation and with the CDO we don't have to worry about a cheap PP for additional $'s which was becoming apparent, and also puts the brakes on about a IMC squeeze which was also suspected. $HAWK

[BombVark]

I'm sorry, how is this good news? The agreement is apparently not close to being signed. Mines are made not discovered goes the old adage. WOF management shows no signs of being able to make this mine. Didn't they try a $20 million financing last July but were unable to complete it? Didn't management leave the retail holders in the dark? Thanks but no thanks, there are better plays

[mercurysmith]

I think it was a brilliant move.  It avoids short term dilution, yet now gives Woulfe some options.  Either IMC and Shinhan will need to be reasonable with completing the deal, or Woulfe will be able to reasonably look at other options.  This is critical leverage needed by Woulfe.  Having Ned Goodman on board is particulary good--that guy is money in the bank.  As I kept

[steamerlane]

How is this good news????Please take a little time to read he details,because it is good news>>>>>>The Company shall have the option to redeem the Debentures after December 31, 2015, provided that the weighted average closing price of the Company's common shares during the 20 consecutive trading days ending five trading days preceding the date on which a notice of redemption

[ark88]

mercurysmith; I agree. Especially regarding turning the tables on the negotiations. IF they can get the Debenture filled and pay off the loan from IMC, it gives Woulfe the option of just walking from the negotiations with IMC/Shinhan. This is the kind of leverage that we didn't have.   Don't you think that Brian consulted Ned Goodman regarding this option. Ask yourself this, how could

[steamerlane]

It also makes it obvious that the IMC/bank loan,isgoing to happen,not if,but when.

[mercurysmith]

ark88, Ned Goodman's fingerprints are all over this debenture news today.  Finally we have a billionaire with an interest that is on our side of the ledger when it comes to completing these negotiations.  Having Ned Goodman on board means the risk of failure of Woulfe has been greatly reduced.  Brilliant move!

[Mark101]

Excellent news in my opinion, like someone already mentioned now we have leverage and we can start to realistically look at other offers should IMC decide to put the squeeze on WOF. I always said that WOF needs to have a plan B in place and this could very well be it. Lets keep an open mind and give Mr Goodman a chance to do his thing ... I think Ned will bring with him a wealth of

[Segusmundo]

Mercury, Ark, and all. Nice coverage on the debenture/Ned Goodman development! If successful, this deal may potentially provide otherwise lame duck WOF with some alternate leverage and options. I assume the  presumption is that the 10 million dollar deal ("10 M") is, in part, to repay the 5 million dollar IMC loan. I thought, this loan was to be rolled into the IMC deal when

[mercurysmith]

Segusmundo, the term of the  $5M loan expires around Feb 25th.  You are right that the plan has always been for that loan to be rolled into the $35M equity IMC would be paying for the 25% ownership of the mine.  I think Woulfe must just be making a statement that they are not going to put themselves totally at the mercy of IMC extending the time to pay the loan, because now Woulfe

[Segusmundo]

Mercury, I agree that Woulfe likely wanted a plan B so as not to be at the mercy of IMC and without funds to repay IMC at the month. But, I sense another possible alternative may be that IMC may have already put Woulfe on notice, expressly or impliedly, that the deal might not be going through as planned, and to be prepared to repay the 5 million, as due, in February, providing Woulfe with time

[Majormac79]

Segusmundo, I like your train of thought there in the last post. IMC would be far better at arm length for sales as opposed to the partnership as Woulfe would be netting 45% more profit from its sales of tungsten. I am disappointed that Woulfe hadn't released the new PEA with the updated tungsten and molybdenum resource as it will vastly increase the NPV of Woulfe at a time when these