Duluth Metals Ltd DULMF

RE: RE: RE: Cash Position and Monthly Burn Rate?

[p1on33r]

rocdlc and redmetal,

Thanks for your feedback and the link - that is exactly what I was looking for.  I have been interested in Duluth ever since Brent Cook made it a Top Pick on BNN, stating that the existing resource / agreement is covered by their current market cap, and essentially you get the exploration / upside for free.  In addition, I like the exposure to the Platinum group metals in a safe jurisdiction with the current volatile situation in South Africa.    In reading the financials, it looks like the burn rate is roughly 1 MM a month.  So, with $25 MM in cash, they should be OK for the foreseeable future, although in reading the press releases, they did add an additional drilling rig to the exploration side of things, so their costs are increasing, which is fine, as long as the metal value / ozs in the ground exedes the cost of drilling / exploration.  So, I am assuming that the long term plan is to spin off the exploration assets (non-Twin Metals) into a NEWCO to unlock that additional value for shareholders.