Woulfe Mining Corp WFEMF

One very short release

[74volfram]

After reading Edison's opinion a few days ago, one could have found reservations on whether Almonty was in fact too small to take over Sangdong at this point.  But I thought the merger was as well as done.  Now it's back to square one.  
-  The board of directors of the Company has unanimously determined to terminate the letter agreement.
Usually a takeover bid is rejected because something better has come up. the big question is: will this be a better deal for all shareholders or just a very good deal for the big one(s).
-  David Constable, a Woulfe director for a long time and a very respected technical expert, resigned for health reasons.  
With Constable gone, Dundee now has deep connection or direct control over all four remaining directors and the CEO. So this becomes to all effects a Dundee company.
- The non-binding letter was terminated before any binding agreement was finalized.  So the 3.5% penalty does not apply.  But the Almonty bridge loan must be repaid in 2 months.  Something major will clearly happen before then.
- The game played by Dundee here is either very random or very clever. I cannot tell without knowing how it ends.

[GaiusGermanicus]

Isn't that what they always say when a board member or senior executive resigns in disgust?

[TechOne]

Only saving grace for retail investors is that there are other large holders who will have  to agree to what ever Dundee cooks up.. Who knows, perhaps they put pressure on the board to cancel the deal.. Not very impressed as far as management stumble goes.. After feasibility we thought it would be smoother sailing but then as the share price was moving up, management pulled this low priced