Woulfe Mining Corp WFEMF

That was quick

[Adrammelech]

Now that Constable is gone and the Almonty deal is dead now what?

GLTA Longs
Adrammelech

[chizzles]

Are we happy? There has been only selling this morning at 0.06. We were at 0.10 before the announced merger. This is what we all wanted.

[lonade]

I think the point to look at is the wording of the NR and the fact that it was WOF who released it. They are clearly stating that it was the board of WOF that unanimously decided to terminate the agreement. So the it seems the decision came from our side. I would have been worried if it was Almonty that is terminating the agreement.... IMHO this a postive turn of events and we havent seen the end

[steamerlane]

I see this as good news.The WOF board looked at the offer and agreed with my thoughts,and they also have first hand knowledge concerning the details of the offer,which were never released to the public.I can't see how they would decide this unless they felt comfortable with the company's current situation.I wonder if there are other more favorable financial possibilities that they are

[GaiusGermanicus]

I suspect Woulfe got an offer for the Sangdong project alone that they couldn't refuse.

[chrisp6712]

IMC was willing to pay $35 Million for 25% of Sangdong. The total market cap for Woulfe and Almonty combined is less than $60 Million. The value of a tungsten mine seems impossible to assess.  Who knows what is going on.

[steamerlane]

If IMC was willing to pay 35 million,I would think they see this as an investment,which means,they intend to have an substancial gain from this investment.So then,what does that say about their opinion of the mines value?????

[chrisp6712]

My point is that no one including IMC appears to know how to value a tungsten mine. Why would IMC pay $35 million for one quarter of Sangdong when they could buy all of Woulfe for $50 million which is twice their market cap. The sector is goofy.

[chizzles]

I must say, I am shocked at the last of posting on this board and lack of buying. When the merger was announced, I think we filled six pages on this message board in the first day! Today, there seem to be just a few people posting...and this is what everybody wanted! The SP was at .10 before the announced merger and shares can be bought right now at .07 yet there is hardly any buying. Also, I

[steamerlane]

Who said they could buy it for 50 million?I havn't taken the time to look at any numbers,,but knowing the anticipated lifeof the mine,and the potentail of the gold mine,50 million would be a steal.

[GaiusGermanicus]

And yet still a better offer than we were given.  $50M would let them pay each current holder a dime a share, pay off their debt, and have enough left to develop Muguk.

[chrisp6712]

Apparently the market doesn't feel Woulfe is worth $50 Million. The market cap is only $25 for the entire company. Sangdong obviously has value but  what is it? You could give me the mine for $0 but I would have to spend $100 million + to get it going?

[kilgor]

Buffet generally waits until all the growing pains are done before he buys 100%, which is a smart move IMHO as he doesn't have to deal with those headaches and can focus on larger business issues.