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Douglas Lake Minerals Inc DLKM



GREY:DLKM - Post by User

Post by USMCon Nov 09, 2009 6:52pm
543 Views
Post# 16469080

This deal makes sense to me

This deal makes sense to meDLKM could not possibly develope Mkuvia's 380 square Kilometers, in the middle of nowhere anyway.   This Joint Venture with Ruby Creek only deals with 125 square kilometers of the Mkuvia property (1/3).   It gives Ruby Creek 70% of that 1/3 of Mkuvia and DLKM (we) keeps the other 30% plus all of the rest of the Mkuvia which is, of course, the remaining 2/3.  For that rather small part of the whole, DLKM receives $250,000 up front.   When Ruby Creek's 90 day due diligence period is confirmed, they pay us another $100,000...."on the day of the closing ...and receipt of the first mining license, Ruby Creek will make ANOTHER payment of $400,000 to the company for a total of $750,000 from signing to closing".   THEN another $750,000 in the first year, $750,000 in the second year, and $750,000 in the third year.    This gives us $3,000,000  to develope the rest of Mkuvia and other properties Plus another $1,000,000 if Ruby Creek exercises their right of another 5% of the J.V. which would be a 75% to 25% J.V. partnership on that 1/3 of Mkuvia.     I doubt that Harp made this J.V. agreement based of what he perceives to be the best 1/3 of the property.   That goes for our deal with the Chinese also.     I suspect DLKM will end up with the best of the best of the property plus a solid part of the rest.     If this is not a pot of gold on top of the ground  at rainbow's end, it is the nearest we will ever come to it and I'm in a lot of other very  good, small miners.   Correct me at will.
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