Duluth Metals Ltd DULMF

DM

[aandeel]

NEW LOWS.TOTAL LOSER.THIS P>O>S WILL FADE AWAY TO NOTHING.good luck.

[oceaneleven]

Wow..................just read the past news.............not good at all.............and not alot of money in the till.....

[estebancaballo]

Ocean....I know you have been following DM for a long time. Don't you think that the fact that it is trading at a very low valuation may be because the sp has already been discounted for precisely this eventuality? I mean, it was not rocket science to predict that Anto would choose not to assume the burden of financing 65% of the project at this time.....all imho.

[oceaneleven]

Yes Big E...........The sp most certainly reflects Anto's decision...........The PFS has yet to be delivered and the agreement is for BFS yet they decide to back out now.....So, DM has 180 days from the notice to pay up the 220 mil plus the 10mil debt(which could be paid for in shares, not the 220).....Once this is done or not done, Anto could come for the rest and own all..........The problem

[estebancaballo]

Good points O but I am not sure I agree with your interpretation of the current situation: my take on it is that DM now has 180 days to exercise its right to purchase the 40% owned by Anto. If it does not do so then it must pay back the $10mil plus interest to Anto....in shares if it so chooses. DM does not have to pay back the $220mil in cash or shares, right? So my guess is that it would not buy

[redmetal]

You would think Teck would want 60% and all of the Exploration land for $100 million. They are obviously interested in the area. This would be chump change for them with huge upside.

[oceaneleven]

TECK plays dirty too...........see Copper Fox metals deal............shareholders got burned on this very large low copper grade deposit............this is dejavu almost except TECK drew up their own company agenda and now is the operator-full control over when such deposit will get developed.......

[TheCardinal]

I think the Duluth International Airport is going to be very busy for the next 180 days; busier than usual, at any rate.

[oceaneleven]

Yes Big E...If the 220 million is not paid back then Anto keeps their 40%.......So maybe that's the plan.....where is DM to get that kinda money???? and at 53 cent shares and more work & money needed.....just sayin...........Anto could come anytime after the 180 days and take the rest for peanuts......so how much is peanuts worth...............and how long are they willing to sit with