Duluth Metals Ltd DULMF

new financing -- May seem desperate?

[yoda2]

A maybe -- only $10 million-- could it be for 15million or more shares ?  10% of co.

Sad situation 
DM has a CEO, a President, a CFO and a COO. And even with 4senior executives they  somehow they seem to have run out of money.  

Not too good for shareholders. But should be enough $ keep to keep spendig on management salaries, admin and even some further drilling.
Hoping to hear an explanation soon -- it may not be bad -- they surely know what they are doing, to protect the shareholders.


https://www.stockhouse.com/news/press-releases/2014/03/10/duluth-metals-announces-private-placement-offering

[mtsuit]

In 2012 the company was repurchasing shares in the open market around $2 (because it was undervalued!) Then in 2013 they issued a 7.5% bond convertible at $2.26 (avoiding selling equity when it was trading at an undervalued price around $1.75!) Now selling stock at 70 cents ...

[redmetal]

Shows how bad both the market and management is. Hopefully this will carry them through to the PFS. Its been so many years since their was any economic assessment that nobody has anything to go by and therefore arent jumping in. The PFS is the key to the future of this company.

[marpincan]

Excellent ore body with Dumb management does about sum it up here. They had lots of other options including an offering to existing shareholders with warrants attached. They definately need to pull in on the spending till the storm settles!!! On the bright side - this should lead to a bargain price for those willing to put some money up. JMO

[alvarez2]

Another 10million to burn...........Fk'n unbelievable