Duluth Metals Ltd DULMF

Morels Twin Metals April 23 Presentation

[redmetal]

When I look at the presentation and how spread out the project is, especially where the tailings facility will be, I worry about a large Capex. Any comments.presentation

[rationalinvest]

Earlier (end of March) there were some news articles als seeping informatio on the mine site, locations, etc.. McFarlin, VP public affairs at Twin Metals, indicated a capex at around $ 2.5bn. I have incorporated this as a capex estimate in my model. My main question would be whether this would be for a 80 ktpd operation. This seems most likely as a 40 ktpd operation would not make a lot of sense

[redmetal]

My understanding is when Vern went North at a speaking event in Canada, he was quoted at 50,000 tons maximum tto begin. May expand to 80,000 tons later.

[rocdic]

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