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:
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.