Woulfe Mining Corp.(TSXV:WOF) announced the latest update from its strategic agreement with IMC at its Sandong mine. Woulfe appointed independent consultants to oversee IMC’s progress at the mine.
As quoted in the press release:
Also as previously announced, subject to the terms and conditions of the definitive agreements in respect of the transaction, Woulfe and IMC will jointly establish a Korean joint venture company which will build a tungsten refining plant to produce Ammonia Para Tungstate (APT), which joint venture company will be owned 55% by IMC and 45% by Woulfe.
Woulfe, CEO, Brian Wesson, said:
We have been working closely with IMC’s team during this process and look forward to finalizing the arrangements in Korea.