Woulfe Mining Corp WFEMF

Cancellation of APT agreement

[chizzles]

The cancellation of the APT agreement is very big news for us with less dilution being required to raise money. Does anyone have any idea how much money this will save us?

[wolfry1]

Contribution for the APT joint venture would have been: Woulfe CAD$15.75M  (45% equity) IMC      CAD$19.25M  (55% equity)

[chizzles]

If this past NR states that we just saved spending $15.75M, shouldn't that have made the SP move (and move significantly)?

[Zynfandel]

Still here too, since 2009... I also have the feeling it will get done, but I don't hold my breath :-) Zyn

[mercurysmith]

chizzles, the reason that news wouldn't change the s/p is that even though it saves $15.75M, it forfeits the potential profits of the 45% ownership of APT.  It is a saw-off.  That money was never going to be paid by Woulfe in advance of the APT plant.  It was to be paid by future production revenues.  In other words, it was a potential future debt which now won't need

[chizzles]

Thank you Mercury, appreciate it, I figured there was something that I wasn't understanding. Seems like a lot of people are happy to hear from you again!! Chizzles