Junior mining company investors should take a good hard stare at this chart:
Duluth Metals (DM.to) went into a JV agreement with Antofagasta (ANTO.L) in January 2010, worked the JV for years, then the market went against the juniors and things sagged. Even more so when ANTO.L decided not to pick up on its option in mid 2014, when DM.to shares went into freefall.
Thing is, turns out that ANTO.L wasn't suddenly out of love with the Twin Falls JV property, it just wanted to get its hands on 100% of the thing without having to pay much. Which brings us to today's news, ANTO buying out DM.to for a song.
They told you capitalism was fair, didn't they? They told you the little guys can beat the big guys, didn't they?