Woulfe Mining Corp WFEMF

short takes on today's posts

[74volfram]

- KSS (or Woulfe) do not know which way one has voted or how the vote is going. The vote is handled by Computershare, which is an independent firm specialized in these things. I thought KSS was following up on vote problems, but apparently they are doing a random survey of voters for Woulfe (I have not been contacted). KSS only knows what Woulfe has told them about (the institutional holders in favor of the merger). I would assume Woulfe is comfortable with that information to hold the vote in the first place.

- Here are the major shareholders of six months ago:
Dundee (now Almonty+Dundee): 16.4%
1832 Asset: 16%
Korea Zinc: 10%
Colonial First: 4.7%
Resinco: 5.3% (maybe less now)
First State (UK): 3%
US Global: 1.7%
First State (HK): 0.5%
Total seven largest owners (excluding Almonty+Dundee): 41.2%  (It is more than 40% indicated in Chizzle's post, which leads me to believe Resinco has sold some of its shares)

- I do not think the institutional holders (large funds) pay enough attention to the Woulfe shares to vote against the opinion of the proxy firms ISS and Glass Lewis.  The only potential holdout could have been Korea Zinc, but from Chizzles post it looks like KZ is also in favor of the merger.

- Looks like the individual shareholders (us) have up to 45% of the shares. In order for the merger to pass, 1 in 4 of the individual shareholders need to vote in favor of the merger. It is a reasonably low fraction. but one never knows who is out there and what motivates them ..

- It is certainly possible that someone else will develop the mine if the merger fails. In my opinion however odds are it will be no longer be our mine.

[kilgor]

To add to your post Volfram, KSS did say to me that the results from all other proxy collectors will be coming to them.  Whether that is true or not or in what time frame those results are delivered, I wouldn't know.

[chrisp6712]

Just to be clear on the role of Kingsdale    <<<<<Woulfe has retained Kingsdale Shareholder Services (“Kingsdale”) to assist in soliciting proxies for the resolution approving the Arrangement.>>>>>

[kilgor]

Yes, Woulfe has retained KSS and KSS is the focal point of gathering the results for the arrangement (as I recall from the conversation). Regarding the assistance of the solicitation of the proxies, I would deduce KSS initiated that too as part of the retainment.

[kilgor]

If the vote doesn't pass and Volfram we were to accept your premise and agree with Chizzles report that all 7 majors agreed to the merger, then it follows that a lot of retail shareholders voted No to the merger. Many silent observers of this board voted No as well. Then again if the vote doesn't pass, which is more likely.... one of the majors voted No or all the majors

[chizzles]

I think that it is very likely that the vote passes. Don't forget, they need 66% yes for the merger to go through, but it is 66% of all of the shares that exercised their vote. So if there are currently 350mil shares of Wof, I think that there is a good chance that only 250mil exercise their right to vote, they really don't need that much. I haven't checked but I think that the 7

[kilgor]

If the vote was a definite yes, I don't think KSS would be calling registered shareholders. (BTW, they can only call those registered shareholder that agreed to have their personal information passed onto 3rd party companies. This question is generally asked when a trading account is opened). KSS is asking shareholders if they voted, confirming how many shares they have, whether they are for

[lonade]

its a good point that you mention kilgor. the worst thing that could happen is not enough shareholders actually voting; regardless of pro or contra. this is one of the important votes for wof and then to have a large amount of shareholders not submitting their vote is really not acceptable. we all need clarity on how all of us want wof to look like in the future and we have the

[chizzles]

But Lonade, if someone doesn't vote, we don't lose. It has to be 66.7% of the shares voted. In other words, if only 85% of shareholders vote, 66.7% of that 85% need to be a yes for the merger. The other 15 % just don't count either way.