Duluth Metals Ltd DULMF

RE:RE:Poor PR seems to be a big problem with DM

[rationalinvest]

Hi red, imho yes they can buy the DM storage unit, but today the doors opened and everybody had the look inside they were waiting for for many years..  I saw no gold, but mainly old scrap metal in there and metal prices need to go way up for that stuff to be profitable.

As to the unexplored land, I don't see majors paying anything substantial for undrilled properties. They would need to sink a whole lot more of money in just to test it. That's what exploration companies are for.

And DM is back to the exploration square. TMM will be shelved unless copper breaks $ 4.00. Because despite all the distracting Dundas talk on C1 cash costs and cash flows, the project is unfeasible at $ 3.50 copper, let alone current market prices.

What now? Dundas will have a hard time raising cash just to pay the interest and G&A, and of course, his big salary. That's what he is running the company for.

O yes, Dundas in fact tried to cut the conference call short when things got tricky, literally stating it took too long and he wanted to 'get back to work'. What?!? We have been waiting for this PFS for years. And what work? Waiting for Bechtel and AMEC, and his big paycheck, of course. 

The PFS result in itself was not on Dundas. But the big corporate overspending and financial mismanagement (share buybacks, debt issue) is totally on management. And shareholders are now paying the price.

This would be funny if it wasn't so sad.