Douglas Lake Minerals, Inc. (OTC:DLKM) has been moving up since last week. Yesterday, the stock added another 3.85% to 
its price, while its traded volume remained significantly high.
In this case, it is easy to say what has caused the uptrend. Namely, the latest news by DLKM.
Over the past few days, Douglas reported that their Board of Directors has accepted the consents to act as directors of the company from Mohan Kaul and Gizman Abbas. The announcement was followed by the news about the progress in the company’s exploration program on their Handeni license situated in the gold fields of eastern Tanzania.
Apparently, the positive announcements provoked investors’ attention and immediately fueled up the gain. Now the question is how long the up move will resist.
Douglas Lake Minerals Inc. is an exploration stage company focused on the acquisition, exploration and development of mineral resources located in Tanzania, Africa. Its latest 10-Q report shows that the company’s cash has decreased, though its assets can easily cover the liabilities.[BANNER]
Unfortunately, both the net loss and the accumulated deficit during the development stage period of DLKM went far beyond the total assets, while the revenues were still missing. Besides, apart form having no employees other than its officers and directors, Douglas stated that during the twelve month period following the date of the 10-Q report, the company anticipated that it would not generate any revenue.
Meaning that if Douglas does not obtain additional financing, it will be forced to abandon its mineral claims and its plan of operations.
