Duluth Metals Ltd DULMF

Financing-- time for a cutback?

[yoda2]

Concerns about not having enough financial resources to fund their share of the Twin Metals JV on-going costs have to be holding down DM's share price.

Is it time yet to curtail for a few years the ambitous exploration program on the 100% owned properties.  These cash outlays for this seems to be very high given the need to keep up with funding obligations on the JV. Also DM's administrative costs seem way too high.

Any thoughts on how practicality of cutting/deferring the  exploration program on the 100% owned lands. And do the very high levels of admin costs offer any potential for meaningful cash savings/

[Nazarbaz]

Do you have numbers handy? I mean how much is being spent on JV, how much on duluth's own property and how much is Administrative cost?

[yoda2]

DM seems to spend the same amount on its exploration and administration costs as it does to fund its JV in the twin Metal projet. DM's share of the funding for the Joint Venture expenditures was US $13,580,000  for the nine months to Sept 30 2013 plus another call for US $5,075,000 in Oct 2013, --  for an estimate of $ 18,655,000 for  all of 2013. In comparison DM's 

[yoda2]

Would others help me with respect to the possible/likely financial problems of DM. I am a shareholder and not a basher. The emphasis on this board seems to focus entirley on resources. And while resources are very important, at this stage of developmemt,  resource advances on the non-twin Metals project properties seem entirely irrevelant to influencing the stock price of DM  It seems

[redmetal]

Very good question Yoda. I share all of your concerns. As I see it Chris Dundas is fumbling what was a good thing. He should be replaced.

[oceaneleven]

Back in Jan 2010 when the jv was dealed, they gave a 36 month timeline for PFS & BFS.....14 month later and we have yet to see the PFS....and it sounds like we won't see that til maybe fall??? They had recently said mid-year but I think not......back in those glory daze we were quite content to wait for such sitting 3 bucks plus and we have found so much more and now trade for pratically

[marpincan]

They have a booth at the PDAC in Toronto - did anyone get a chance to talk to them?

[rocdic]

This post has been removed in accordance with Community Policy

[yoda2]

Does anyone of the many followers and owners of DM shares on this bullboard have any views on the possiblility of a pending DM funding crisis. As further follow-up, a review of the two most recent presentations on the DM website: "Corporate Presentation-February,2014" and "Annual Review 2013-  undated" shows they contain absolutely no financial information. None. While