Douglas Lake Minerals Inc DLKM

crc report

[jonggua]

this is jonggua from over on iv, decided to join up here.

my first time to crc, and it was mostly a bunch of grey haired men in attendance, but who knows how many tens of millions of $ were walking around? I met one guy in his 30's who had sold his private chicago wealth mgmt business to credit suisse already and was rooting around for gold stock opportunities. I steered him to rbyc and warned him away from dlkm.

I can say it seemed the room refilled with rbyc and dlkm presentations, with noticeable excitment compared to most of the North America based companies with limited blue sky potential.

harp has NO credibility here anymore I gathered, but they brought in a new guy, Canadian big shot who is leaving China's biggest geological survey org. to join ruby. He puts a fresh face on it, has been everywhere and knows everything and everybody.

He was dlkm's presentation guy.

dlkm has lost all their other former properties due to either not registering them (their former handeni to the N and W properties, Morogoro and Magembe) this year, or letting them lapse, can read it in their 10K. This i did NOT get from dklm, but another source.

met a guy who had walked on the mkuvia property in 2008 with Toby and Slavik.

mkuvia looks to add at least one other land package nearby, and possibly another 2, for a total of 5 if all work out, and so mkuvia's 340km are just the beginning for rbyc.

lotsa new info available if you dared to ask, tongues flowed freely there.

long time savvy investors to talk to, who by the way tend to be jaded with endless optimism from timeline pressed companies, while being overall enthusiastic about the near and long term future of all hard commodities.

rbyc at least promised to have out their new presentation on monday, production is being pushed back into 1st half 2011 due to EIAS growing to accomodate the larger possible land area already publicly talked about. Sounds like cost of eias is about the same whether one has it done on 10k m or 1000km, so rbyc at least is taking a wait and see approach I believe as much of the prospective land is now in play.

I no longer own dlkm so don't follow it as closely, other than to say it probably has  a very bright stock appreciation future in the next 2 years, but rbyc now has them beat with alluvial vs hard rock, plus they paid $50M in cheap stock for 800km of hard rock while rbyc may pay $.5M for 340km.

however, dlkm's real excitement at handeni is in promoting the possibility that tz greenstone belt may extend all the way from the (currently limited to the) lake area to handeni, a simply enormous land package.

In a macro way, the markets are all in a lather about yukon, why can't they get excited in time about TZ hardrock and lower down near Mozambique alluvial?

I predict in 12 months the frenzy and awareness at least on the retail level will be up 10x.

[AU_NB]

Thanks jonggua, and welcome to the board.  From what you report, unfortunately, it looks like DLKM's appetite for properties has been pared down by the realities of trying to attract funding... eyes bigger than its stomach.  I gather from the last part of your post that, from what you heard from the "Canadian" from Ruby, that potential nevertheless continues to exist for

[8saturday8]

Hi jonggua: I just wanted to set the record straight. The geologist from Chines biggest mining company joined  Douglas Lake not Ruby Creek