Update: Woulfe transaction implications
Following the recent transaction to acquire Woulfe Mining’s equity and debt, Almonty has proposed a merger of the companies, which would give Woulfe shareholders c 40% share in the combined entity. Woulfe’s main asset is the past-producing Sangdong tungsten project, which boasts low opex, capital intensity and a relatively short lead time. We have attempted a preliminary valuation of the project, estimating its NPV10 at C$0.7 per Almonty share on a funded and fully diluted basis, using a US$300/mtu APT price and assuming the IMC JV goes ahead.Almonty Industries is engaged in mining, processing and shipping of tungsten concentrate from its tungsten mine at the Los Santos Project.
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