Woulfe, IMC Closer to JV Agreement

Mining Weekly reported Woulfe Mining (TSXV:WOF) and IMC are one step closer on reaching a joint venture agreement for the Sangdong tungsten molybdenum project.

As quoted in the market news:

The parties, which entered agreements earlier this year, would decide the next steps of IMC’s ongoing due diligence and the project, after which a deadline of 60 days would be set to complete the transaction.

IMC was set to buy a 25% stake in Woulfe’s Korean subsidiary, Sangdong, for C$35-million.

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