Duluth Metals Ltd DULMF

RE:Financing--not enough $ --too late--desperate dilution?

[miningfundi]

Well said! The financing was pitiful - a company with a world-class asset having to resort to a best efforts financing that they could not even fully sell! (At least there were no warrants!). My analysis is that management, in their wisdom, expected the resource news release to generate some excitement, but it was ho-hum, and they then had to scramble. Their latest plan is to expect that the PFS, expected within a few of months, will generate enough excitement to execute a sound, well-priced financing. Let's hope so.

I expect to enjoy a brief relief rally, but watch out if the PFS is delayed.

Hopefully the big institutional shareholders are cracking down on management - we need to kick them out - street protests anyone?