Woulfe Mining Corp WFEMF

note on (promissory) note

[74volfram]

Promissory note (as opposed to a convertible debenture) is a very benign form of loan to a junior company.  Commercial loans from a bank have lower interest, but usually have a collateral. The note interest is kind of high, but looks like a short term deal meant to get through financing phase.
The note has no impact on the share count. In my view this is good for the company and shows Dundee may be back in.
Mr Adrammelech -- appropriately -- wrote a while back that If Dundee was really in trouble financially it would be better for them to move the mine into production.  I think Woulfe received positive sign from IMC and that is where we are headed. This is my opinion only - based on my interpretation of what has been reported.

[Adrammelech]

I have to agree with those comments. I think that Dundee has been muted from going overboard (ie: preffered shares earlier on) by the majority. Woulfe is much more financially beneficial to someone that can take it to production , but you need the right crew to do so and that can be tough to do. Also, the board is not configured for that. What I found interesting about the release is the note is