News

January 03, 2008

Douglas Lake Minerals Stays the Course Through A Tough Year

by Christian Gradley

With its share price near an all-time low, Canadian listed Douglas Lake Minerals keeps to the game plan – actively seeking new joint ventures and sourcing out more properties. Since our last article in February 2007, Douglas Lake added more concessions to its already impressive list of gold, base metals, coal, uranium, platinum group metal and diamond properties in Tanzania. With 51 properties now in its possession and 80 additional concessions still being negotiated, Douglas Lake looks be on track to surpass Barrick Gold Corporation as the largest prospecting license owner in Tanzania.

Structured as a royalty management company, Douglas Lake  seeks joint ventures with well-capitalized junior mining companies, and in so doing reduces its geological and financial risk.  Continuing its close connection with Canaco Resources, with which at one time last year it considered a merger, Douglas Lake optioned to Canaco Resources two more gold properties at the beginning of August.  Under the terms of the joint venture, Canaco Resources can earn a 70 per cent interest in...