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Douglas Lake Minerals Inc DLKM



GREY:DLKM - Post by User

Comment by Yukon_Corneliuson Dec 22, 2009 12:32pm
432 Views
Post# 16610913

RE: recent price weakness

RE: recent price weaknessI cannot imagine that scenario given the meager volume traded on average. DLKM has over 60mm shares outstanding. I'm not sure how many are in the float, but its inconceivable to me that anyone is putting downward pressure as you suggest with a few thousand shares. I'd attibute this weakness to a simple lack of buying interest. Any selling is met with a donwdrift because some  patient longs are sitting on low bids and getting filled. (I'm not - I have what I want) Simple trading pattern here imo, lack of buying interest and some selling. There's nothing nefarious happening based on what I see. A mining license (another month or two?) and equipment on the ground will cure this. But before that can happen, the Environmental Impact report needs to be completed. Geologist Laurie Stephenson told me in Chicago on 11/6, that was about 2 months from being done- and that the Tanzanians were pretty responsive - 30-days-ish - from there. So doing the math- assuming they're still on schedule-Mkuvia mining should have the green light in February. Laurie thought it feasilbe that mining ops could commence by March. Additional funding from partners also still required. This is what I believe/recall. Toby et al can correct me if I'm mistaken on any of this.
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