Digging into the mining market for profit can be a long-term, frustrating process. Testing can tell a company that the mineral is there, but getting at it becomes the issue. Finding the mineral, and getting it out of the ground to market, is an entirely different mining issue altogether. If, however, a great prospecting lease - that does pan out - comes along, profits will happen with each excavator load full of overburden.
Douglas lake Minerals Inc., an exploration stage mining company, seeks gold, copper, nickel and uranium deposits primarily in Tanzania. The company has recently signed off to start work on its first prospecting lease in Tanzania, and has 54 more in its portfolio within the area. At the start of the second quarter 2008, the company is negotiating for 80 additional prospecting leases
The company is an exploration stage company at this point. Its first move toward commercialization brings the company one step closer to becoming a solid player in the now burgeoning Tanzania mining market. Several other mining companies are now in the process of staking their claim in Tanzania right alongside Douglas Lake Mining, although not with the same apparent zeal that Douglas Lake exhibits. The first testing samples show a near-surface vein along the bedrock/gravel line within its first lease. This particular site has tested out at 9.4 g/t of gold. Even if this particular find comes up short, the company is well situated to take advantage of a regional mining location that appears to be one of the next biggest mining opportunities.
Funding and geological expertise, for the company’s operations, appear to be in good hands. The company has signed an agreement with the Tianjin Institute of Geology and Mineral Resources to help fund ongoing operations while bringing Chinese geological prowess to the table. The institute is an outgrowth of the Chinese government, so it is a bit difficult to know where the corporate/government line is drawn but - for the moment - the funding and testing help will be a welcome assist for a mining company cutting its teeth in Tanzania. Commodity prices for gold/silver/uranium are definitely hot at the moment. If Douglas Lake Minerals can get its operations into the ground quickly, it should find a great opportunity for striking profit right off the bat.
https://blog.qualitystocks.net/?p=10984