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Miguel Herschberg
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Miguel Herschberg graduated from the London School of Economics (LSE) with a BSc. in Mathematics and Economics and a MSc. in Applicable Mathematics. He is currently at the University of Illinois at Urbana-Champaign (UIUC) specializing in Industrial Organization. He is passionate about... More
  • Duluth Metals 0 comments
    May 18, 2010 11:43 PM | about stocks: ANFGF

    (This is an old article. Date: 15 January)

    I was just reading this article seekingalpha.com/article/182559-antofaga... in seekingalpha.com.
    Duluth Metals may be an interesting investment opportunity. A short summary:

    " Junior Canadian resource companies continue to attract the attention of the world’s largest players, with previously obscure Duluth Metals nailing a $227 million (U.S.) joint venture with one of the world’s largest copper miners, London-based Antofagasta plc (OTC:ANFGF).

    Antofagasta, a company with a $16 billion market capitalization and massive mines in Chile, has faith in Duluth’s claim.

    UBS Securities advised Duluth on the transaction, along with law firm Fraser Milner Casgrain.
    Prior to the transaction, the base metals analyst had a $3 one-year target price on Duluth stock."
    Now, it is trading at 3.30 CAD approximately. However, there chart doesnt seem to show the existence of an upward trend....
    Also from the Canadian paper, the Globe and Email:
    Tiny Duluth Metals Ltd. has won up to $227-million from one of the world's largest copper miners for a joint venture to exploit what it says are its massive reserves of copper, nickel and platinum-group metals in Minnesota.

    The announcement sent Duluth Metals soaring more than 50 per cent on the Toronto Stock Exchange yesterday. "From the point of view of validation of what we've got, and validation of the company, this is huge," Duluth chairman Christopher Dundas said in an interview, adding that a major partner was needed to make a project of this scale a reality.

    But hurdles remain, including possible protests from environmentalists and the winning of environmental approvals from the state of Minnesota. DM (TSX) rose $1.13 to $3.27."

    I am definitely going to follow Duluth closely... 

    Disclosure: No positions.
    Stocks: ANFGF
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