Duluth Metals Ltd DULMF

RE:RE:RE:some poeple with bagholder syndromme cant read

[CashIsKing16]

"Mr. Meyer trimmed his target by a nickel to 40 cents."

Above is likely a typo by Stockwatch.  They do that now and then.  They summarize news and try to put in in their own words in shorter format, and sometimes get it wrong.  I have seen it several times.  Guys there are very busy as they try to do this for every public company out there.

Prof_JD wrote: i read it. but this version doesnt mention such a drastic change but yet says  target LOWERED BY 5
. could there be a typo somewhere 

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Globe says CIBC's Meyer is bearish on Duluth Metals

2014-09-04 06:50 ET - In the News

 

The Globe and Mail reports in its Thursday, Sept. 4, edition that CIBC World Markets analyst Tom Meyer continues to rate Duluth Metals (27 cents) "sector underperformer" (all figures Canadian unless otherwise stated). The Globe's Darcy Keith and Tim Shufelt write in the Eye On Equities column that Mr. Meyer trimmed his target by a nickel to 40 cents. He says Duluth is running out of cash fast and could be heading toward a highly dilutive financing to stay afloat. Mr. Meyer notes that Duluth only had $6-million in cash remaining as of Aug. 12. He notes it is budgeting $3.3-million for second half 2014 general and administration expenses, and is looking at a $4.2-million (U.S.) funding requirement for its Twin Metals play. A $30-million convertible debenture and a $12.1-million bridge loan are outstanding, as is a $1.1-million interest payment that is due in the fourth quarter of this year. Mr. Meyer says: "A strategic review of alternatives is under way, but, in our view, the cash may run out before it can be completed. ... Failing to find a buyer for the [Twin Metals] project or the company as a whole would force Duluth into a highly dilutive financing in order to continue as a going concern."

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https://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aDM-2209907&symbol=DM&region=C