Great question! Why is IMC receiving 40% of over $8 billion dollars worth of tungsten for a measly $35 million dollars. The other $35 million is just a loan to Woulfe Mining which can be paid back in free tungsten for IMC.
If the Sangdong tungsten mine has a 40+ year life span with around $200+ million per year in potential tungsten revenues. That would be over 8 billion dollars. Maybe this is why Woulfe Mining appears to be working on a plan B with Ned Goodman.
If Woulfe Mining receives 60% of the profits and IMC receives 40% then why on earth hasn't this deal been completed yet? IMC is getting a great deal.
At this point in time it appears that IMC has been behaving like a bunch of tight wads. Their getting 40% of 8 billion dollars worth of tungsten for pocket change. They need this long term tungsten supply to expand their tool making factories. I'm not sure if this delay has something to do with IMC being based in Israel/Jewish owned or Warren Buffett being senile and no longer able to grasp a great deal when it is presented in front of him. I wish someone would get to the bottom of this.
As far as the Shinhan Bank in South Korea goes. I have no clue what their problem is. The Muguk gold and silver mine alone would be more then enough collateral to lend the measly $150 million dollars to Woulfe Mining.