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Duluth Metals Ltd DULMF



GREY:DULMF - Post by User

Comment by CashIsKing16on Nov 03, 2014 10:49am
138 Views
Post# 23088211

RE:DM is extremely fortunate to get this deal

RE:DM is extremely fortunate to get this deal
CashIsKing16 wrote: I think Anto over paid. They could have really squeezed DM's b*lls.

In a way not that surprising considering how they screwed up and wasted a lot of money on DM's property.

Guess who the big winners are (other than those who bought at 7 cents or 15 cents in the past few weeks)?




Why is it interesting for WG?
DM has 136.8 million shares OS and 160.5 million shares fully diluted.
I am not sure what options and warrants DM has outstanding so I will just use their OS #.
136.8 million shares x $0.45 = $61.56 million mkt cap.
Not sure what cash or liabilities they have so no consideration for enterprise value.
Have you read their recently released prefease? IMO, it's terrible, especially the capex. Offhand I think the metal prices they used were also high.
I think CIBC had a recent target price of 5 pennies for DM.
WG's updated PEA should have a lot better numbers than DM's prefease numbers.
John Lee's options are likely out of the money so let's use shares OS as well.
93.7 million shares x $0.52 = $48.7 million mkt cap.
WG's $48.7 million mkt cap vs $61.56 million mkt cap plus DM's prefease numbers vs WG's PEA numbers.
Who knows when or if DM's project is ever going into production vs WG's project likely going into production in 2018/2019.
The above is one of the main reasons why I own WG shares.
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