We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Almonty Industries Inc.
An SI Board Since July 2011
Posts SubjectMarks Bans Symbol
892 17 0 AII.TO
Emcee:  Sultan Type:  Moderated
Almonty Industries Inc. Completes Acquisition of Woulfe Mining Corp. and Announces Financing Transactions of $7.78 Million

Toronto and Vancouver, British Columbia - September 11, 2015 - Almonty Industries Inc. (“Almonty”) (TSXV: AII) and Woulfe Mining Corp. (“Woulfe”) (CSE: WOF, Frankfurt: OZ4) are pleased to announce that Almonty has completed its acquisition of Woulfe by acquiring all of the outstanding shares of Woulfe pursuant to an arrangement under the Business Corporations Act (British Columbia) (the “BCBCA”). The transaction was previously approved by Woulfe shareholders in accordance with the requirements of the BCBCA, and was subsequently approved by the Supreme Court of British Columbia. It is expected that the common shares of Woulfe will be delisted from the Canadian Securities Exchange at the close of business on or about September 14, 2015. Under the arrangement, each Woulfe common share has been exchanged for 0.1029 of one Almonty common share. Registered Woulfe shareholders should follow the instructions in Woulfe’s management information circular dated July 28, 2015 in order to obtain certificates representing their Almonty common shares due to them under the arrangement. Almonty has issued an aggregate of 34,806,205 Almonty common shares in connection with the arrangement.

Company Overview

Woulfe Mining a CSE listed company with a diversified portfolio of mining licenses for tungsten, molybdenum, gold, base metals and uranium-vanadium in South Korea.

The company is focused on the development of the Sangdong tungsten mine (one of the World's largest and most renowned tungsten mine's for 40 years) a property that we believe has substantial value for our shareholders. The outcome of the scoping study in March 2010 determined that the project NPV was US$467 million at a commodity price of $25,000 per tonne Ammonium Paratungstate (APT). Today, the APT price is over US$45,000 per tonne. Woulfe has accelerated the project due to the robust project and market. The company's target is to move to production at the end of 2012. In the last 18 months the company has focused on building the Sangdong tungsten mine team and reopening the mine. The project is well staffed with professionals and is moving forward rapidly.

Woulfe Corporate has now turned its focus to the Muguk gold project, historically Korea's largest producing gold mine. In 1998, Muguk was reported by Korea Resources Corporation (KORES) to contain a combined resource of 1,418,980 tonnes @ 13.5 g/t gold, 72.8 g/t silver (615,956 oz gold and 3,321,599 oz silver). Woulfe cautions that a Qualified Person has not done sufficient work to classify the historical estimate as current, that it is not treating the historical estimate as current and that the historical estimate should not be relied upon. A drill campaign is starting drilling the down dip extensions of the Three Brothers Vein in June 2011. Woulfe's other projects will be considered once these two projects are moving to production, in order to unlock value for shareholders and to move the company to a positive cash flow as quickly as possible.

Shares Issued and Outstanding 268,206,883
Options 12,975,000
Warrants 42,906,750
Fully Diluted 324,088,583
Listings CSE: WOF
Frankfurt: OZ4.F
Previous 25 | Next 25 | View Recent | Post Message
Go to reply# or date (mm/dd/yy):
ReplyMessage PreviewFromRecsPosted
892ALMONTY INDUSTRIES - EARNINGS GROW ALMOST 3-FOLD Almonty Industries is a speciaSultan-November 22
891Almonty to Receive the US$13.7 Million Sixth Drawdown from KfW IPEX-Bank TORONSultan-November 22
890I know where to find the tungsten production results, but it remains bizarre thaLoneClone-November 16
889General news release is very short and I tried to find more details on sedar butSultan-November 15
888And once again, a quarterly report that makes no mention of how much tungsten thLoneClone-November 15
887 Almonty Announces the Filing of Its Unaudited Interim Condensed Consolidated FiSultan-November 15
886Ukraine war orders starting to boost revenues for big US defense contractors reSultan-October 30
885 Ukraine war depletes tungsten stocks, says Canadian supplier Almonty to devSultan-October 30
884Well said. My holding have been diluted so much over the years I am essentially LoneClone-October 27
883It's why I washed my hands of this thing way back at $1. Management are selsense1October 26
882Almonty's October Presentation at IIF (note, the title is misleading.. It iSultan-October 15
881IIF - Almonty Industries Inc. youtube.comSultan-October 11
880Thanks for that, all good info indeed. But it looks to me like the price was walLoneClone-October 10
879Well, it is what it is.. Take advantage of the share price out of sync with undeSultan-October 10
878Priced way too low -- pretty sleazy IMO LCLoneClone-October 10
877Almonty Placement of Common Share Units and CDI’s raises C$500,000, US$733,333 aSultan-October 9
876Tungsten Mining leadersmag.comSultan-October 2
875Popular Korean YouTuber visits Sangdong .. subtitled video Almonty Industries ISultan-September 26
874Almonty Announces the Filing of Its Unaudited Interim Condensed Consolidated FinSultan-August 15
873Almonty advances Sangdong tungsten mine in South Korea [graphic] ConstructionSultan-August 4
872Profitable Turnarounds - Canadian Mining Journal - August 2023 Interview with LSultan-August 2
871Almonty Provides Sangdong Mine Construction Update 31
870Almonty Partners with Korea Telecom to Revolutionize Mine Safety While Also DemoSultan-July 11
869Tungsten: The Most Important Metal You Never Heard Of pw-mag.comSultan-July 3
868ALMONTY INDUSTRIES - Supply of strategic metals — New tungsten mine in sight reSultan-July 1
Previous 25 | Next 25 | View Recent | Post Message
Go to reply# or date (mm/dd/yy):