Woulfe Mining Corp WFEMF

about shares

[74volfram]

Woulfe has 360M shares out now.  Dundee controls the board but does not own the majority of Woulfe shares.
At best of my knowledge, these are the current large shareholders of Woulfe:
Dundee: 59 M (16.4%)
Korea Zinc: 35M (10%) Korea Zinc has anti-dilution rights
US Global: 6 M (1.7%)
Colonial First: 17 M (4.7%)  This fund sold 50% from 6 months ago.
First State (UK): 11 M  (3%)
First State (HK): 2 M (0.5%)
1832 Asset 56 M: (16%) This fund is a new holder
Resinco 19M: (5.3%)

Total large shareholders: 57.6%
Total insiders: 26.4%
Total outsiders: 31.2%

What could happen to the share count going forward (these are my numbers and should be checked):
Using round numbers, Dundee owns 60M  shares and 50M warrants at various exercise prices.  Dundee also owns 30M convertible notes.  If and when all these are exercised and converted, Dundee will own 140M shares (31% of the new share count - 440M).  At that point Korea ZInc shares (35M now) may use its non-diliution rights and acquire 10M more shares (new total 450 M). This is when IMC would come in with its $25M for 25% share of the mine (110M, with new total 560M).  BTW 560M is the number of shares used in the latest financials for the operating mine.  I have assumed no further dilution before financing.  If dilutive PP occurs at this stage it would likely add 10% to the share count.
At the end of all this financial engineering, Dundee will own  25% of Woulfe having spent $25M altogether (18c per share average). IMC will own 25% for $35M (31c per share). Korea Zinc will own 10% for $15M (33c per share).  Given that Dundee was an early investor and got Woulfe out of insolvency in 2013, this would not be entirely unfair.
BTW Dundee could have taken majority control of the company in November through a $4M PP at 5c, but they did not do it. A Dundee takeover on the cheap is less likely now after final feasibility. It would be very interesting to know what actually happened then.

[sage4hus]

Hello everyone, I finally registered in to join this board on this good news. Thank you everyone for sharing info and thoughts, especially 74volfram, appreciated your deep insights. Where are the all regulars here on such a good day? : )

[GaiusGermanicus]

I'm surprised I caught it.  Usually after Fridays close I log out of my brokerage account and avoid the entire subject until doing some pre-market research Sunday . . . However I had a Java and Flash update for my browser which forced a reload of the bullboard page, showing the new posts. I suspect many of the others won't be seeing the news until Sunday night or Monday morning as

[GaiusGermanicus]

Thanks for the info, I feel better now about buying ahead of dilution to maintain my measily .1%+ Still, nice to know what my father taugth me about hard rock mining, the risks, the rewards, was worth listening to.  Somehow I managed to avoid the serious dogs and come up with a junior mining company that stands a chance of moving out of the Juniors. Of course he likes gold mines, and I

[alta777]

 IMC acquiring a 25% interest in Sangdong Mining Corporation (Woulfe's 100-owned subsidiary) Read more at https://www.stockhouse.com/news/press-releases/2014/12/15/woulfe-mining-extends-imc-loan#HUh39FkwB4UGm60G.99 IMC deal should not change share structure of Woufle Mining by 110m shares  

[GaiusGermanicus]

There I am hanging out on the right side of the decimal place (but the ENTIRE right side) with my 720,000 shares . . . More if Apple breaks big on Monday and this news stays quiet long enough.

[lonade]

Just add to your comment on the share count: There was a share count done sometime last year, where a large number of outside shareholders provided the number of their shares, including myself. Now just assuming that there was some truth behind that, there should be a least 13 Mio shares in the hand of longs. I have more than trippled my position since then, so it could even be higher..... So