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Woulfe Mining Corp. (CVE:WOF) reports that it has appointed PricewaterhouseCoopers to perform a detailed analysis and valuation of its Sangdong tungsten molybdenum project.
The press release is quoted as saying:
Woulfe Mining has achieved a number of key milestones which could positively impact the valuation. In addition, the tungsten market has strengthened considerably over the past 9 months. Permitting and detailed design of the mine and process plant is now well advanced. Woulfe plans to release before the end of July, an updated resource statement prepared by Wardrop, a Tetra Tech company, as well as an independent capital evaluation and the PricewaterhouseCoopers valuation.
Woulfe Mining has requested a new proposal from Korea Zinc that reflects the change in the Company’s value based on these factors.
Woulfe’s President and CEO, Brian Wesson says:
“Our Sangdong project has changed significantly as has the market; the updated resource is due out soon followed by pre-feasibility and feasibility studies. The detail design of the project is well advanced and given the project’s strong economics, we believe that it can be financed shortly and progressed to production in 2012.”
Click here to access the entire news release.
