Duluth Metals Ltd DULMF

Finally Dundas is no longer CEO.

[redmetal]

Good news. Osborne is a rock star in the mining industry. News

[yoda2]

??? Hmmm note the press release says  "Mr. Dundas will continue as Duluth's Executive Chairman and a Director as well as remaining on the Twin Metals Board of Directors." will Osborne really be the CEO??

[rationalinvest]

Yes. I read it as these functions will be seperated. So Dundas will not be gone, but he will not be in control anymore, and not the face of the company.  Dundas might have been rebuffed after the last press release? And of course the company is transforming from exploration / development to mining with the PFS coming up. All in all positive imho. Old situation: MANAGEMENT &

[yoda2]

Unfortunately Dundas may continue to function as the CEO on all important matters. It seems curious that Osborne would leave Twin Metals,as there is real work going on there. DM does not have enough activity to justify the large number of executives it has , particularly given its fragile financial condition and its low market capitalization.  

[rationalinvest]

I don't see why Dundas would still be in charge of important matters, as Osborne is effective CEO and bears responsibility. Osborne was COO of Duluth up to now and he was not a Twin Metals executive nor a Twin Metals director. Osborne will however become a Twin Metals director, replacing Mr Pugsley. See Twin Metals BOD: https://www.twin-metals.com/who-we-are/board-of-directors/ I

[elberbank]

Does that mean Twin Metals is not going forward but Duluth metals wants keep Mr. Osborne? With the PFS so close you would expect the SP to start on an upward trend if things were positive, to me this as confirmation this stock will remain flat if not drop another 5 - 10% by monthend. It seems no Brokerage house is willing to do a financing, that's all you need to know.

[rationalinvest]

I just spoke to Dundas. As a background, Dundas also was chairman until 2010 and he became CEO in August, 2010. https://web.tmxmoney.com/article.php?newsid=32760010&qm_symbol=DM Dundas is in effect stepping down again to chairman to make room for Kelly Osborne. He praises Osborne for his expertise on underground mining and thinks he is the right guy for the next company stage. As

[yoda2]

rational would you help clarify as i am confused. from the NR it seems Osborne had been seconded to Twin Metals in 2012 and only returned to DM in March 2014.  This mean DM adds one more executive?  Then Baker goes , for one less executive  therefore seeming to keep the number of execcutives the same. As Baker was a mining operations type it would seem Dundas was the CEO. Dundas

[rationalinvest]

Hi Yoda, Osborne has been COO of DM up to his promotion to CEO. I see what you mean re the press release, Osborne is in the TMM technical committee, but at the same time he still was COO at DM. So all in all, DM sheds one (pricey) exec. I see Scotia slamming 30K into the close.. I thought I got in cheap at 65 but the cheap stock fairy keeps on giving :)

[rationalinvest]

PS. So here is the TMM technical committee.. The good news is that Vern Baker will remain on this technical committee but will drop off the DM payroll.. Technical Committee Vern Baker Holger Bannach Murray Canfield Andrew Hara Guillermo Muller Kelly Osborne https://www.twin-metals.com/who-we-are/corporate-committees/

[yoda2]

rational  Thank you for the clarification.  It is also nice to see that bullboards help when people share info and even opinions. DM"s  price dropping has lead to a concern that I never saw before.  With Polymet and Twin Metals each on track for building a mine in the near future does it make much sense to anticipate that DM could add a third new mine in Minnesota in

[estebancaballo]

Twin Metals is 60% owned by DM. A TM mine is a DM mine and would constitute a huge success for DM. DM is also exploring in its own right.... and could add to the resource being mined but I doubt they are planning two mines at this state..all imho.

[rationalinvest]

Don't forget Teck's Mesaba, haha. Exploration is clearly on the DM backburner now because of cost control, which I see as a good thing as the exploration dollars don't add to present value. So I don't think there is an influence there, I also myself wouldn't attach any current value to the exploration projects.  There have also been multiple iron mines in the Iron

[yoda2]

rational thank you again  Have/are we shareholders been/being  scammed by DM's management? The value of DM lies in the TMM project . Yet we have been bombarded with info from DM about their extensive 100% owned resources and the billions being spend on exploration to further expand them; even though, it seems highly unlikely that these resources would ever be developed in the

[Nazarbaz]

Aparently you can't see that the mining went into a bear market for a reason. I.e., building such large capacities that with the exception of Pt and Pd the rest of this resources product would be in surplus by next year.  And apart from sectoral difficulties the management as explained by Yoda2 proved having no eregard for shareholders. How you can't see all this and call yourself

[estebancaballo]

By the time this mine goes into production the resource surplus will be a deficit. This bear market will end and we will see a return of the commodity bull.... why? Look at the increase in the middle classes in Asia and many parts of the world. As for the management.... these are minor issues that will be forgotten once it becomes clear that a mine will be built. All imho.

[marpincan]

Osbornes strengths are in Mine Developement and operation and as well based on where he has worked before, he is well connected to the big players in the industry. This tells you a lot in itsself. They are getting ready for the next phase.