Douglas Lake Minerals Inc DLKM

Proxy Vote

[Urban_Renegade]

I along with many DLKM investors have most likely received a package from DLKM management in regards to a proxy vote. This vote will take place on Dec 23rd and will seek to increase the authorized capital of the comapny from 100M to 500M shares. I am sure this issue will most likely be brought up during the CC on monday and Harp et al can explain why this is necessary but in the mean time i would like to get some feedback on whether ppl think this is a good or bad idea.
My take is that it will be inevitably be necessary to increase outstanding shares to take us to production however, i think authorizing 500M shares is quite extreme. Perhaps 150M or 200M would be quite sufficient. On the other hand i can see it being quite cumbersome to have to go through this process every time you want to issue new shares to a potential investor. Not to mention you may miss out on an extremely good investement if you are not readily available to do so without this red tape bureaucratic proxy vote.
In the grand scheme of things i am not sure it is a significant vote anyways as the board has more than enough shares to ensure they get what they want. In any event, I think Harp has done a very good job at positioning this company on the right path, and getting the right people on board (ie:TIGMR, TANZMINEX) that i will give this motion my vote and trust that Harp will continue to do whats right for the company.
Any thoughts?

[stockarchangel]

I don't necessarily believe its a bad thing, but I'll agree that it is extreme in this case.  If we have what we claim to have, and believe we'll see $1 or more after assays and some competent estimates of what the entire property holds, then another 40-50,000,000 shares should be more than enough. Most mines I've seen go operational required $30-80,000,000 to fire