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| TSX: DM | Last: $1.82 | Change: even | Volume: 275445 | ||
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 Duluth Metals Limited (TSX:DM, DM.U in U.S. dollars) is a Canadian advanced stage mineral exploration Corporation which has completed a number of preliminary economic assessments on a large, potentially bulk-mineable underground copper-nickel-PGM deposit located within the rapidly emerging Duluth Complex mining camp in northeastern Minnesota, USA. On January 14, 2010 Duluth Metals announced it had signed a binding heads of agreement with Antofagasta on a joint venture development of the Nokomis project. The joint venture provides the execution and financing capabilities required to aggressively advance this development project towards production under the following heads of agreement joint venture terms: Duluth Metals will contribute the Nokomis project including approximately 5,000 acres in the Duluth Complex for a 60% interest in the joint venture, with Antofagasta to acquire an initial 40% interest; and Antofagasta holds the option to acquire an additional 25% of the joint venture from Duluth Metals at an exercise price calculated on a pro rata share of 1.0x Net Asset Value, which will be determined by a bankable feasibility study. Duluth Metals principal asset is the Nokomis Deposit situated within approximately 3,000 acres of the Nokomis Properties. Duluth Metals has recieved a new NI 43-101 compliant Resource Estimate for the Nokomis Deposit which consists of 550 million tonnes of Indicated Resources grading 0.639% copper, 0.200% nickel, 0.660 grams per tonne TPM (TPM = Pt + Pd + Au) for a copper equivalent (CuEq) grade of 1.51%, plus an additional 274 million tonnes of Inferred Resources grading 0.632% copper, 0.207% nickel, 0.685 grams per tonne TPM for a CuEq grade of 1.53% Duluth Metals has received a second NI 43-101 Scoping Study on the Nokomis Deposit in 2009. This report provides an updated Preliminary Assessment of the Nokomis Project, based on the June 2008 Mineral Resource Estimate and an expanded 40,000 tonne per day production rate scenario. The report confirms positive economics for the Nokomis Deposit even at lower metal prices with the potential to be one of the world's low cost copper-nickel producers. The Company is managed by a select group of dedicated professionals with extensive combined experience in copper and nickel exploration, development and mining, and business management and finance. John Tumazos conference presentation webcast March 25, 2010 at 8:37am EST To view the webcast on March 25, 2010 at 8:37am EST, please go to the following link: http://www.wsw.com/webcast/vir5/ |
 Jul 28, 2010 News Release Duluth Announces Appointments Arising Out Of Corporate Reorg... more... Jul 21, 2010 News Release Duluth Metals Signs Definitive Participation Agreement With ... more... Jun 30, 2010 Financial and Annual Reports 2nd Quarter FS and 2nd Quarter MD&A more... |
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