Post by
mtlimpact on Jul 13, 2015 11:25am
Possible points to bring to a judge
Here what I see has important points to bring to a judge to get a higher price.
1) The independent firm doing the fair evaluation is Jacob Securities a small boutique firm with an analyst covering Almonty (one of 2 firms), how independent are they ? Part of future financing ?
2) In their own corporate presentation Alomonty is using a 375$ price per tonne for 2017 (the year Sandong is supposed to go into production) and yet is using present price(around 250$) to make it's bid.
3) This is for me the most point:
The fact that Woulfe had the revised FS completed since June 1st (see press release and SEDAR filing for effective date of the report) but did not release it until July 6th.
So Mr Black and Almonty had access to inside information that current and would be Woulfe shareholders did not have. This for me is insider information.
Even if Jacob Securities opinion is fair it should be up to the market to decide the value of this project and given the fact thta there was basicly only 2 trading days between the releases it's not enought.
Now of course one could argue that Woulfe is in a very bad situation and financing is very hard to come by and this is true, but that does not allow one company to use (to say the least) very questionable tactics to buy another one...
Comment by
kilgor on Jul 13, 2015 11:37am
Good points mtlimpact..... I would be willing to go to court over this.
Comment by
steamerlane on Jul 13, 2015 11:53am
Your points are well taken,and there are more to be made.I just by passed any details and stated what should be the obvious,WOF shareholders only receive .07 a share,and anyone who considers that a fair or realistic price,even with the current conditions,is welcomed to invest in a"bridge to nowhere"that I am willing to collect money for.