May 17 (Reuters) - Woulfe Mining Corp:
* Provides update
* Board, interim CEO have initiated comprehensive investigation into co, its
units to ensure business continuity
* Board and interim CEO have initiated an internal review to further preserve
cash, reduce costs and enhance corporate efficiencies
* Continues negotiations with various parties to provide a short-term financing
* Board, interim CEO identified issues relating to liquidity, ability of co,
its units to meet various payables beyond next few months
* Board review also identified considerable additional test work necessary to
bring sangdong tungsten project to commercial preparedness
* Source text for Eikon
* Further company coverage
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