Douglas Lake :: Gold in Tanzania
DLKM has the 2nd largest land position in Tanzania....of course Jim Sinclair's TRE is #1....
check out the newz....Chinese invest $6 million in DLKM...
douglaslakeminerals.com
Speaking just to current price, what I like is that, as I figure (back of the envelope), current price is below where the Chinese are coming in.
Based on the premise that the $6 million investment goes directly to the company, as reported in the press releases, for the last payment for the alluvial property and new exploration, of company properties, I would think that new shares would be issued.
"Tianjin Institute of Geology and Mineral Resources (TIGMR) based in Tianjin, Peoples Republic of China, has made
a $6 million equity investment to be used for project financing, as well as exploration and development of Douglas Lake's properties in Tanzania. This will give TIGMR approximately 20% ownership in Douglas Lake."
Current outstanding shares are 40,385,865 (before)according to the company website. 1.20% of 40,385,865 is 48,463,038 shares after Chinese entry. The difference before and after is 8,077,173 shares. Dividing the $6 million by the newly issued shares, the Price Per Share would appear to be about $0.74/share.
Nice to come in below a major shareholder.
And then there is the prospect of the alluvial property which wasn't there when the stock was at $3.50.
CEO interview video....
tv.wallst.net
|
