Issued Shares : 214,292,250 Warrants 60 638 000 Strong Institutional Shareholders: : 60,638,000 • Colonial First State 16% Options :5,875,000 Fully Diluted :280,805,250 • Resinco Capital Partners 12% • US Global 9.9% As at 30th June 2010 Current share price : C$ 0.08 cents Current Cash position: C$4.5 million Debt: none Company valued : C$17 million market cap. vs Sangdong scoping NPV C$480 million, IRR 26.6% DCF 8%. Objective Capital values Woulfe $0.90/share
Woulfe Mining Shareholders Rights Plan to be Implemented at Annual General Meeting
§Woulfe Mining Corp. (TSX-V: WOF) ("Woulfe" or the "Company") advises that, subject to shareholder approval at the Annual General Meeting to be tentatively scheduled in late November, 2010 and the approval of the TSX Venture Exchange, a shareholders' rights plan (the "Rights Plan") will be implemented. The Rights Plan is designed to encourage the fair treatment of shareholders in the event of any take-over offer for the Company. The Rights Plan will provide the Board and the shareholders with more time than the 35 days provided by statute, to fully consider any unsolicited take-over bid for the Company without undue pressure, and allow the Board to pursue, if appropriate, other alternatives to maximize shareholder value and to allow additional time for competing bids to emerge.
"We are still in the early stages of developing our mineral properties," notes Brian Wesson, Woulfe's president and CEO. "We firmly believe that the value of our mineral properties, especially the Sangdong property, could far exceed the current, relatively small market capitalization of our company. To protect and maximize the value held by our stakeholders we are implementing a shareholders' rights plan."
Under the Rights Plan, a bidder making a Permitted Bid (as defined in the Rights Plan) for the common shares of the Company may not take up any shares before the close of business on the 60th day after the date of the bid and unless at least 50% of the Company's common shares not beneficially owned by the person making the bid and certain related parties are deposited, in which case the bid must be extended for 10 business days on the same terms to allow other shareholders to deposit to the bid. The Rights Plan will encourage an offeror to proceed by way of Permitted Bid or to approach the Board with a view to negotiation by creating the potential for substantial dilution of the offeror's position if a non-Permitted Bid is attempted. The Permitted Bid provisions of the Rights Plan are designed to ensure that, in any take-over bid, all shareholders are treated equally, receive the maximum available value for their investment and are given adequate time to properly assess the bid on a fully informed basis.
The Rights Plan is not being proposed in response to, or in anticipation of, any acquisition or take-over offer and is not intended to prevent a take-over of the Company, to secure continuance of current management or the directors in office or to deter fair offers for the common shares of the Company. The Rights Plan does not affect in any way the financial condition of the Company. The initial issuance of the rights pursuant to the Rights Plan is not dilutive and will not affect reported earnings per share or cash flow per share until the rights separate from the underlying common shares and become exercisable.
The Rights Plan is subject to the approval of TSX Venture Exchange and the approval of the shareholders. Shareholders should refer to the Information Circular for the Annual General Meeting when available for further details.
----------- " Federal Reserve No More 'Federal' Than Federal Express" - Dennis Kucinich
über den Arbeitsfortschritt ist gerade mal einen Monat alt. Wollt ihr tägliche Wasserstandsmeldungen - möglichst aus jedem Bohrloch?
Der Kurs steht auf 0,065 - aber der einzige Trade heut war zu 0,08. Und viel billiger dürfte auch nichts zu bekommen sein - meine Order steht schon eine Woche in Frankfurt und harrt ihrer Ausführung.
Sehr schöner Bericht. Den haben sie sich mal wieder aus den Fingern gesogen. Steht da jetzt irgendwas drin? Für mich überhaupt nichts.
"WM advises that it proposes to fast-track... This is a significant change... "
"WM advises (wie auch immer das zu übersetzen ist), dass sie vorhersagen (/ankündigen?), dass sie die Sangdongmine schneller abarbeiten wollen..."
Das ist es, was sie uns mit dem Bericht sagen wollen?
Also in dem Bericht steht überhaupt nichts drin, was sie schon gemacht haben, nur Vorhersagen darüber was geplant werden soll. Da steht nichtmal ein konkreter Plan, nur, dass sie einen erstellen wollen.
Noch Fragen?
"... Das ist eine bedeutende Änderung..." ja genau!
k0k0k0
: Woulfe Mining Announces Muguk Gold Drilling Result
Woulfe Mining Announces Muguk Gold Drilling Results VANCOUVER, BRITISH COLUMBIA – October 13, 2010 – Woulfe Mining Corp. (TSX-V: WOF) (“Woulfe” or the “Company”) is working to define a resource at its Muguk property to comply with NI 43-101 requirements. Woulfe has now achieved an encouraging result from its second hole into the Muguk gold prospect in South Korea. The purpose of diamond drill hole MG-2 was to establish the continuity of mineralisation in the No.7 Vein which has been defined by historical drilling and mapping from the 1980s. Woulfe Mining’s hole MG-2 intersected a zone containing seven thin quartz veins which form part of the No.7 Vein. This zone has a true thickness of around 11 metres, while the individual veinlets range from 0.3 metres to 0.8 metres thick. Historical sampling of the No.7 Vein at Muguk suggests the mineralisation within the zone is variable with historical one metre assays varying from below detection limit to 384 g/t. There was one significant assay encountered within the zone in diamond drill hole MG-2: Sample 42402 386.30 metres to 386.67 metres 16.7 g/t gold, 16 g/t silver This sample is from a vein on the eastern margin of the zone which has a true thickness of 0.3 metres. The hole continued to a depth of 450 metres in order to define better the geological setting of the deposit. The significance of MG-2 is that it confirms the assumption of continuity between intersections. The mineralisation can now confidently be assumed to extend at least 180 metres to the north and 260 metres vertically. Mineralisation therefore extends from MG -1 (1.4 metres true thickness at 5.6g/t gold) to historical hole No. 85.3 which intersected a true thickness of 5.4 metres at 7.0g/t gold, including 1.2 metres at 16.9g/t gold and 1.2 metres at 14.8g/t gold, separated by a 3.0 metre unsampled interval. "These results confirm our expectations at Muguk, historically Korea’s largest producing gold mine," stated Brian Wesson, CEO and President of Woulfe. "The ongoing work at Muguk will define and potentially expand the historic, non-NI 43-101 compliant resource. Our main focus remains the Sandong Project where we have several financial partners exploring strategic relationships in South Korea to fast track production.”
denk mal morgen könnts noch ein stückchen bergauf gehen. Dann schaun mer mal, was die nächste Woche bringt. Wär ja schon zufrieden, wenns dann mal auf diesem Niveau bleibt, hatten wir ja schon lange nicht mehr!!
obwohl WOF durch das Muguk-Projekt ein Stück weit auch ein Goldwert ist. Die Volatilität hat stark abgenommen, aber wer einen steten Blick auf WOF hat, sieht, das es zwar recht langsam, dafür aber stetig aufwärts geht. Wer in letzter Zeit versucht hat, günstiger reinzukommen oder nachzulegen, wird das bestätigen.
Die Ausrüstung ist aus Südafrika angekommen! Bald geht's los!
5-Nov-2010 Sangdong drilling program extended & drill equipment on site
§Woulfe Mining Corp. announced today that drilling equipment is now on site at Sangdong to conduct the planned drill program which has been extended from the original plan of 3,600 metres to 5,000 metres. Over the last year at Sangdong the Company has acquired a mine development licence, reopened the mine, repaired and cleaned out over 600 metres of tunnels, and has established two drill platforms in preparation for this work.
jungs... nicht böse gemeint. aber ich bin seit über 2 jahren investiert. das sind news die gar nichts ausdrücken. natürlich würde ich mich auch freuen wenn endlich mal der aufschwung käme. aber bei nem umsatz von 8000 aktien drüben... das ist nöppes...
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