Duluth Metals Ltd DULMF

RE:What if Management does something smart!

[miningfundi]

There are a few problems:

Antofagasta controls the Twin Metals Project - would Teck come in - I doubt it?
There will be only one mine in that area in our lifetimes i.e. the Project i.e. the 100%-owned exploration lands are interesting but academic. Money invested in that exploration has a net present value of about zero
DM will need funds very soon to meet Project cash calls and fund wasteful exploration and the huge management and administrative overhead, including eight directors
If DM cannot meet cash calls, its interest in the Project will be diluted - remember Baja Mining?
Any financing is currently going to be very expensive indeed, and equity-based financing is going to be extremely dilutive

I hope that I am wrong, and that management does have something up its sleeve, but its past performance indicates comfortable complaceny rather than innovation and urgency.
I