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WFEMF: Inactive security. FINRA deleted symbol.
https://otce.finra.org/otce/dailyList?viewType=Deletions
WFEMF SEC Suspension "because of questions regarding the adequacy and accuracy of information about the company".
https://www.sec.gov/litigation/suspensions/2018/34-84824.pdf
Order:
https://www.sec.gov/litigation/suspensions/2018/34-84824-o.pdf
NED GOODMANAfter a 15-month run, Ned Goodman is stepping down as a board member of Barrick Gold Corp.
“He is starting a new company in the resource space that presents a potential conflict with his role on Barrick’s board,” company spokesman Andy Lloyd said in an e-mail.
Mr. Goodman, the founder of asset management and brokerage firm Dundee Corp., joined Barrick’s board in April, 2014, and was paid $144,000 last year.
Everyone: does this sound familiar? He did the same at Wolfe... NED GOODMAN you CROOK!!!
http://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/ned-goodman-resigns-from-barrick-board/article25641200/
added 2000 shares at .045 today with a partial fill
Buffet is still involved,through IMC.I hope Almonty will move the company forward soon.They have the background for mining,so we should see some progress in the near(?) future.
ty balihi , was wondering what happened to all that fianancing woulfe was supposed to get from buffet and if this is a better deal with almonty?
N E W S
Almonty Industries Inc. to Acquire Woulfe Mining Corp. and Become the Leading International Tungsten Company
Wed, Jul 8, 2015, 0:03AM EDT
Almonty Industries Inc. (AII.V) (“Almonty”) and Woulfe Mining Corp. (CSE:WOF, Frankfurt:OZ4) (“Woulfe”) are pleased to announce that they have entered into an arrangement agreement (the “Arrangement Agreement”), pursuant to which Almonty and Woulfe will proceed with a business combination in which Almonty will acquire all of the outstanding common shares of Woulfe by way of a court approved plan of arrangement (“Arrangement”).
http://finance.yahoo.com/news/almonty-industries-inc-acquire-woulfe-025500722.html
db, seen that you buy 50,000 here any good news?
Added today @ .59
'Lower' risk entry at these levels here folks IMO
Yes it is,nothing like having first hand information.
"Engineering Daily" is a Korean newspaper.
More convincing....
News from an investor.....(Engineering Daily) reporter: 28 June.
Korea Engineering and Consulting Company (KECC) signed a contract for the basic design of the Youngwol tungsten mine redevelopment and will be fully involved in the the project.
The tungsten mine redevelopment project is led by Woulfe Mining, which is invested by IMC, which is a subsidiary of Warren Buffett Berkshire Hathaway. KECC will do the basic design related to the installation of the key sectors of mine crusher plant. The basic design contract was signed May 21.
Michel Gaucher from Woulfe Mining, Son Sang Cheol from Sangdong Mining, the equipment supplier METSO representative Chris Smith and the KECC President (CEO) were present.
According to Son Sang Cheol, the basic design was preceded by pre-feasibility and feasibility in 2012 and 2015. In early May the ground survey (geotechnical investigation) for the installation of the crusher and grinder plant location was conducted. According to the ground survey the basic design will be completed soon and the redevelopment of the full-scale mine will be pursued. KECC will be involved as EPC.
The Engineering Daily piece clearly refers to the "upcoming meeting in Sangdong" that was mentioned by the german poster "grauemuetze" in his posts on WS online forum. The following points should validate the full grauemuetze post, including by extension the rest of the discussion with Sangdong mine personnel.
- There was a meeting and announcement in Sangdong at the end of May
- Gaucher was at said meeting (he is in center of the photo in the piece and by the look on his face he had to know he was leaving the next day)
- METSO is the supplier for the crusher and grinder apparatus
- Korea Engineering and Consulting Company (KECC) is partnering with Woulfe for the design and will likely be the EPC for the mine redevelopment
The next few weeks should be interesting.
ty db, i see what you mean where the price is about locked in, ty
Chart has bottomed. Look at what Almonty paid for their shares...It will not go up without any positive developments... Or down possibly with out more negative developmets. It will be locked here otherwise.
i cant believe there hasnt been any trades on here in the last so many days. any one know why?
Insider buys showing Almonty's stake...
https://canadianinsider.com/company?menu_tickersearch=WOF
NEWS: Gaucher out.... Black in as new CEO
To clarify...Almonty is buying approx. 29 million shares from Dundee(leaving Dundee with 30 million)and Almonty will also acquire the $4,000,000 principal amount 12% Unsecured Subordinated Convertible Debenture due December 31, 2016 issued to Dundee by Woulfe on March 7, 2014 (the "2016 Debenture") in exchange for a cash payment to Dundee of $2,600,000 ($2,100,000 in cash on closing and $125,000 in cash in four equal installments on the dates that are three, six, nine and twelve months from the closing date) and the issuance to Dundee of a term promissory note in the principal amount of $1,400,000 due five (5) years after closing and bearing interest at 4% per annum.......
Almonty Announces Investment in Woulfe Mining Corp and the Purchase of Outstanding Common Shares and Debenture of Woulfe Mining Corp in Exchange for Cash, Notes and Common Shares of Almonty
Published: June 2, 2015 4:05 p.m. ET
0 3
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICESOR DISSEMINATION IN THE UNITED STATES
TORONTO, Jun 02, 2015 (BUSINESS WIRE) -- Almonty Industries Inc. (“Almonty” or the “Company”) (AII) today announced that it entered into an agreement with Woulfe Mining Corp (“Woulfe”)for a non-brokered private placement of $1.0 million in principal amount of convertible unsecured subordinated debentures (the "Debentures") at a price of $1,000 per debenture (the "Offering"). The Debentures will have an interest rate of 12% per year, payable quarterly in arrears. Woulfe will have the option to satisfy, all or a portion of its interest payment obligations by delivering to Almonty common shares of Woulfe at a price equal to equal to the Market Price (as defined in the Canadian Securities Exchange Corporate Finance Manual) of Woulfe’s common shares on the interest settlement date. The Offering is expected to close on June 4, 2015 and will mature 12 months from closing.
Each $1,000 principal amount of the Debentures will be convertible at the option of the holder into 16,667 common shares of Woulfe.
In addition Almonty and Woulfe entered into an agreement such that Almonty will be granted a right on closing to nominate one member to the board of directors of Woulfe, provided such nominees are acceptable to regulatory authorities, for so long as Almonty holds a minimum of 5% of the issued and outstanding shares of Woulfe.
Concurrently, Almonty has entered into an agreement with Dundee Corporation (“DC”) and Dundee Resources Limited ()DRL” and together with DC, “Dundee”) whereby Almonty will acquire 29,497,229 common shares in the capital of Woulfe currently owned by Dundee at a deemed price of $0.056 per Woulfe share in exchange for issuing to Dundee 2,949,723 common shares of Almonty at a deemed price of $0.56 per Almonty common share. Almonty will also acquire the $4,000,000 principal amount 12% Unsecured Subordinated Convertible Debenture due December 31, 2016 issued to Dundee by Woulfe on March 7, 2014 ()2016 Debenture”) in exchange for a cash payment to Dundee of $2,600,000 ($2,100,000 in cash on closing and $125,000 in cash in four equal installments on the dates that are three, six, nine and twelve months from the closing date) and the issuance to Dundee of a term promissory note in the principal amount of $1,400,000 due five (5) years after closing and bearing interest at 4% per annum.
In connection with the purchase of the 2016 Debenture, Dundee will also assign its nomination rights to Almonty whereby Almonty will be entitled to nominate up to 50% of the directors of Woulfe so long as its partially diluted ownership interest in Woulfe remains not less than 15% (on closing, Almonty will hold 8% of the outstanding Woulfe shares and have a pro-rata partially diluted ownership interest in Woulfe of approximately 18.2%). Accordingly, on closing Almonty will have nomination rights for up to four (4) nominees to the Woulfe board of directors as presently constituted.
Completion of the transactions contemplated herein is conditional on approval by the TSX Venture Exchange.
Commenting on the transaction Lewis Black, Chairman, President & CEO of Almonty stated:
“Almonty continues to believe in the merits of combining one of the world’s most promising undeveloped tungsten assets, Woulfe’s flagship Sangdong mine. with our significant portfolio of producing assets that will create a truly global tungsten powerhouse to the benefit of both Almonty and Woulfe shareholders. We view this transaction as the first step in achieving our desired end result of combining the two companies. Almonty has already established itself as a leading producer of tungsten outside of China and premier consolidator of global tungsten assets. We are confident in the combined team’s ability to unlock significant value from our collective assets for our combined shareholders and see this transaction as a first step in achieving our original aim of combining the two companies. Almonty is also pleased to welcome Dundee as a significant shareholder (5.7% ownership interest post-closing) in the Company as a result of this transaction.”
About Almonty
The principal business of Toronto, Canada based Almonty Industries Inc. (AII) is the mining, processing and shipping of tungsten concentrate from its Los Santos Mine in western Spain and its Wolfram Camp Mine in north Queensland, Australia. The Los Santos Mine was acquired by Almonty in September 2011 and is located approximately 50 kilometres from Salamanca in western Spain and produces tungsten concentrate. The Wolfram Camp Mine was acquired by Almonty in September 2014 and is located approximately 130 km west of Cairns in northern Queensland, Australia and produces tungsten and molybdenum concentrate. Almonty also has an option to acquire a 100% ownership interest in the Valtreixal tin-tungsten project in north western Spain. Management and certain members of Almonty’s Board of Directors led the turnaround and eventual sale of Primary Metals Inc., the operator of the Panasqueira Tungsten Mine in Portugal from 2003 to 2007. Further information about the Company’s activities may be found at www.almonty.com and under the Company’s profile at www.sedar.com.
http://www.marketwatch.com/story/almonty-announces-investment-in-woulfe-mining-corp-and-the-purchase-of-outstanding-common-shares-and-debenture-of-woulfe-mining-corp-in-exchange-for-cash-notes-and-common-shares-of-almonty-2015-06-02?siteid=bigcharts&dist=bigcharts
Almonty Announces Investment in Woulfe Mining Corp and the Purchase of Outstanding Common Shares and Debenture of Woulfe Mining Corp in Exchange for Cash, Notes and Common Shares of Almonty
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
OR DISSEMINATION IN THE UNITED STATES
The chart is bottomed and primed on daily and weekly timeframes.... A good catalyst would certainly provide the reasoning behind a secular upward stair step pattern; may I go as far as saying upward 5 wave pattern? That maybe a stretch for a penny stock.
Green screens to all
db
Off Topic...sort of...
U.S. says China has placed mobile artillery on reclaimed island
.
U.S. says China has placed mobile artillery on reclaimed island
3 hours ago
SINGAPORE (Reuters) - The United States said on Friday that China had placed mobile artillery weapons systems on a reclaimed island in the disputed South China Sea, a development that Republican Sen. John McCain called "disturbing and escalatory."
Brent Colburn, a Pentagon spokesman traveling with Defense Secretary Ash Carter, said the United States was aware of the weapons.
McCain, chairman of the Senate's ArmedServices Committee, said the move would escalate tensions but not lead to conflict.
"It is a disturbing development and escalatory development, one which heightens our need to make the Chinese understand that their actions are in violation of international law and their actions are going to be condemned by everyone in the world," he said at a news conference in Ho Chi Minh City.
"We are not going to have a conflict with China but we can take certain measures which will be a disincentive to China to continue these kinds of activities," he said.
In Beijing, China's foreign ministry spokeswoman Hua Chunying said she had no information on the weapons.
U.S. officials say Chinese dredging work has added some 2,000 acres to five outposts in the resource-rich Spratly islands in the South China Sea, including 1,500 acres this year. …........copy ,paste and search for all of this. L
Really?I see a great deal of new investor interest,and any resistance levels will be ignored.
WFEMF is showing as a 'counter trend trade' (up) buy in terms of daily and weekly timeframes
I see a few more months of slight up movement to .10-.15 before any big moves...
There also may be an announcement/PR from the company.
PPS closed up 10% to .055 on 8500 total volume.... Support and pivot is .05
PPS is down 8% on $40 total volume... Buy signal still in tact... .05 ask now
WFEMF buy signal.... Volume is the last piece of the equation here... Buy in before the real volume
AGREED... buy signal since 05/01/2015..... Good luck ladies and gents
Someone sold $81 worth of stock, and the PPS crashes 31%.... Then closes up 8.5%....Sorry for the Lang. but 'duh'
Up we go. Buying more soon to add to the collection.. Been holding for years averaging down
How China Threw Its Rare Earths Monopoly Away.....
Rare earth elements (REEs) are a group of seventeen elements with exotic names like neodymium and yttrium that are key ingredients in many high-tech products, many important for national defense. Imagine the consternation of Western officials when they woke up one morning in September 2010 to learn that China held a near-monopoly in the production of these vital materials. In retaliation for the collision of a Chinese fishing boat with a Japanese Coast Guard vessel near a group of disputed islands in the East China Sea, China threatened an embargo. Prices of REEs soared.
How did China become the world’s leading producer of REEs? Did the 97 percent market share it held in 2010 represent a true natural monopoly? At the time, I wrote that its hold on the market was more fragile than it appeared. The erosion of China’s dominance of REEs holds important lessons for all supposed natural monopolies.
The first clue should have been that rare elements are not really rare. All seventeen rare earth elements are more abundant in the earth’s crust than gold, and some of them are as abundant as lead. The thing that makes them hard to mine is the fact that they do not occur in highly concentrated deposits like gold and lead. Even the best REE ores have very low concentrations. On the other hand, such ores exist widely throughout the world. Until the 1960s, India, Brazil, and South Africa were the leading producers. From the 1960s to the 1990s, the Mountain Pass Mine in California was the biggest source. China began to dominate REE production only in the late 1990s.
Related: Some Good News From This War-Torn Nation’s Oil Industry
Ownership of natural resources turned out to be only one factor that led to China’s big share of the REE market. Yes, it had good ore deposits, but not uniquely good. It also had low labor costs, which helped China’s REE mines just as they help its toy factories. A further consideration may have been most important of all: Mining of REEs can produce very nasty waste products. For years, Chinese authorities were willing to turn a blind eye to environmental devastation caused by primitive, often illegal, but low-cost small-scale mines. Meanwhile, environmental problems were a major factor leading to the shutdown of the Mountain Pass Mine. Following a big spill of radioactive waste, U.S. authorities demanded new environmental safeguards. Already facing low-cost Chinese competition, the mine closed rather than undertake the needed investments.
Still, even if China never had a true natural monopoly, it did have considerable short-run market power. In the short run, supply of REEs is much less elastic than in the long run. Any short run increase in supply can only come from mines that are already open or, to a very limited extent, come from “urban mining”—that is, recycling of REEs from scrapped computers and the like.
Related: 3 Ways Oil Companies Can Survive Low Prices
Short-run demand is also inelastic. Once high-tech production lines are set up to produce hybrid cars or computer hard drives using REE-dependent technologies, it is not possible just to substitute nickel for the neodymium in a magnet and expect it still to do its job.
In the long run, though, elasticity of both supply and demand turned out to be much higher, as Eugene Gholz of the University of Texas notes in a recent report from the Council on Foreign Relations. After the 2010 run-up in REE prices, the U.S. mining company Molycorp quickly obtained a permit to reopen California’s Mountain Pass Mine, using newer, cleaner, and lower-cost technology. By 2013, it was filling market orders. Australia’s Lynas Corporation began developing an operation in Malaysia at about the same time. Other ventures in Kazakstan, South Africa, and Canada soon followed.
Related: Who Is The Biggest Player In Energy?
On the demand side, REEs turned out to be not quite as irreplaceable in high-tech products as it seemed at first. At least in many cases, producers use REE-dependent technologies not because they are the only way to do something but because they are a good way to do it given reasonable prices and reliable availability of the raw materials. Japanese, Korean, and U.S. companies soon began to develop alternative technologies like magnets that used only a fraction of the amount of the REE dysprosium as they had used before.
The bottom line: China still has a large market share—around 70 percent, Gholz estimates—but its apparent natural monopoly proved illusory. Its attempts to turn REEs into an economic weapon by exploiting low short-run
I saw the same exact post somewhere else,coincidence?
Seeing a buy signal on the daily chart on 5/11 and 5/12 so far... Let see if there is any follow through..... PPS is currently at .05
i see woulfe doesnt make tooooo many announcements about what is going on. at least you may say that it isnt a pump and dump stock. just a holding and waiting for some good news.
I'm liking these discounted shares. I think they are waiting for the Panama Canal widening project to finish..
Tetra tech is one of the contractors for the canal
IMO
FWIW
http://gelookahead.economist.com/qa/new-panama-canal-2/
All messages about the news were lost yesterday I guess.
ty balihi ,for the website info on termination.
This was a news release,and they usually lag behind the news when it comes to the website.Her is a link to the news.
http://www.canadianminingjournal.com/press-releases/story.aspx?id=1003481081&er=NA
where does it say that woulfe termated the merger , i didnt see it on there website?
the termination sounded good , that woulfe donesnt need any outside help to be a going company. now we just need some really good news and this company should shoot way up in pps.
Woulfe Announces Termination of Almonty Letter Agreement
C.WOF | 1 hour ago
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 17, 2015) - Woulfe Mining Corp. ("Woulfe" or the "Company") (CSE:WOF)(FRANKFURT:OZ4) -
Woulfe Mining Corp. announces that, further to its press release dated January 27, 2015, the board of directors of the Company has unanimously determined to terminate the letter agreement dated January 20, 2015 between the Company and Almonty Industries Inc. ("Almonty") and the proposed merger transactions contemplated thereunder. The $150,000 bridge loan provided by Almonty will become due on April 30, 2015.
Woulfe also announces with regret that Mr. David Constable has resigned as a Director and as Chairman of the Board of Directors of the Company for health reasons. His presence will be missed and the Company wishes to acknowledge Mr. Constable's immeasurable contributions and high moral standing that he brought to the Board of Woulfe.
On Behalf of the Board of Directors
Woulfe Mining Corp.
Michel Gaucher, CEO and Director
About Woulfe Mining Corp.
Woulfe Mining Corp., through its wholly-owned subsidiary, Sangdong Mining Corporation, is dedicated to developing the Sangdong tungsten-molybdenum mine which was historically one of the largest tungsten mines in the world and one of the few long-life, high-grade tungsten deposits located outside of China. Woulfe Mining Corp. is listed on the Canadian Stock Exchange.
Forward-Looking Information: This news release includes certain information that may be deemed "forward-looking information". Forward-looking information can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. All information in this release, other than information of historical facts, including, without limitation, the timing of the feasibility study update, the potential of the Sangdong project, engineering and mine planning, general future plans and objectives for the Sangdong project are forward-looking information that involve various risks and uncertainties. Although the Company believes that the expectations expressed in such forward-looking information are based on reasonable assumptions, such expectations are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking information. Forward-looking information is based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from the forward-looking information include changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, and other risks detailed herein and from time to time in the filings made by the Company with securities regulatory authorities in Canada. Mineral exploration and development of mines is an inherently risky business. Accordingly, actual events may differ materially from those projected in the forward-looking information. For more information on the Company and the risks and challenges of our business, investors should review our annual filings which are available at www.sedar.com. Readers are cautioned not to place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Woulfe Mining Corp.
Mark Gelmon
Although not a great deal for existing WFEMF shareholder, I would not mind holding onto my existing shares if there is not substantial dilution
Maybe Dundee is hoping that his representing Almonty and also a large shareholder in Woulfe will enable him to develop a low ball price for Woulfe to make Almonty merger with Woulfe financially attractive and beneficial in the long run to him and his friends? Just an opinion on my part, but this little business deal smells. Wonder what IMC is thinking about this or will this benefit them too? Regardless, this does not look beneficial to shareholders in general.
This sure looks like a conflict of interest,and I don't how it can be viewed any other way,which I hope is illegal in Canada.
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