Duluth Metals Ltd DULMF

Is this very bad news?

[yoda2]

Before this annoucement DM was expected to receive a whopping sum of cash from Anto and then use some of this cash to fund DM's 40% of the large TMM capital costs and to have money to develop the DM's separate properties.
Now with this announcement DM will not receive a big whack of cash and will have to find funds to finance 60%(not 40%) of the capital costs of TMM.
DM does not have funds and seems to have demonstrated a poor ability to manage finances.

Without some outside angel money it appears that DM is getting closer to being on the ropes and very vulnerable.

[estebancaballo]

It is incredible and highly unlikely (impossible?) that DM has not considered the possibility that Anto would not exercise its option. Obviously they could try to float more shares in a private offering...hopefully this won't happen but even diluted the DM shares should be worth much, much more once the bankable FS is done. This is still early days in the DM saga. All imho.

[TheCardinal]

The "ounces in the ground" value of what DM has identified so far makes it worth about $3 a share.  If they were to try to sell it for any less than that, every class-action law firm from here to Mars would be on them like a duck on a June bug.   For those who crave "excitement", well, you're about to get your "fix".  In spades.

[Nazarbaz]

What I  read in DM news release is OK but what it says in Anto news release is very bad news. It says Anto is looking in what to do with its TMM and DM shares and that together with DM's empty coffer and high burn rate suggests we might be bag golders!

[estebancaballo]

Yes we are left holding a bag full of gold, silver, copper and nickel....what a terrible deal! All imho.

[Parsnipguy]

Personally would not go near this one until the dust settles and clarity appears.One can speculate on all angles but the reason for latest news disturbs me right now.Market was already saying something was up before.