Duluth Metals Ltd DULMF

DM's Plan of Action

[discovernothing]

It's obvious that DM can't develop this project on it's own without substantial dilution. It seems the logical thing to do is to sell to a Major. If the price is say $ 2, per share then the major's cost would be $ 270 million for a 60% interest in all of the lands.  The Major would control the project and keep Anto in for 40%. Anto would not have any choice but to continue paying it's share of the costs. This would reduce the exposure for the Major who would in addition own 100% of the remaining lands. If there were future discoveries on the remaining property, the benefits from these would accrue solely to the Major. Anyone else have any other ideas how we can get out from this mess?

[rocdic]

This post has been removed in accordance with Community Policy

[TheCardinal]

That's not so far-fetched.  They still own enough DM to have their voice given serious consideration and one to be listened to in any such dealings that might occur.  They'd better have Daddy Warbucks ( whomever that might be ) standing right behind them as they talk, though.

[jjeeddoo7]

great thought above....really makes one think about what goes through the minds of others....noth inside and outside of the company...most specifically "how they are positioning themselves for the future"........at the Junior level, which we are at, under exploration, on the way to de-risking this deposit to look attractive to the banks to loan money for construction. Anto is a miner

[marpincan]

So since Anto is in Business to make Money and not friends I suspect that Anto has figured out that it is a far better deal for them to take control by letting DM falter and have all their obligations to Anto be converted to shares. Anto could be the ones holding up the PFS as it is in their best interest to make DM look as bad as possible. You probably have dissagreement between the 2 on what is

[yoda2]

"before Antos ownership interest is diluted" Does this mean DM cannot issue new shares without clearing up this bridge loan?. If DM shares were issued to Anto for the loan Anto would own another 1/6th of DM For all practical purposes is Anto in the driver's seat with respect to the the control and direction of DM?