DMA - Dynasty Resources

[happytown]

Re: DMA - Dynasty Metals

just ann'd a placement to Xinghua Iron and Steel Co of 11,652,197 shares @ .18

as it is a 15% placement it does not require s/holder approval

this is subsequent to the s/holder rejection of 27/09/10 of placement of 40M shares @ .16 and 20M options to Xinghua

this is a good outcome, as it provides another $2M in the bank, which dma will need for upcoming pre-feas study commencement and further expl planned, and is significantly less of a placement (and potential dilution) than was proposed

this is dma's first strategic relationship with chinese steelmakers and Xinghua have expressed their desire to build an iron ore supply business in aust

off-take agreements could follow

 

[barney]

Re: DMA - Dynasty Metals

just ann'd a placement to Xinghua Iron and Steel Co of 11,652,197 shares @ .18

as it is a 15% placement it does not require s/holder approval

this is subsequent to the s/holder rejection of 27/09/10 of placement of 40M shares @ .16 and 20M options to Xinghua

this is a good outcome, as it provides another $2M in the bank, which dma will need for upcoming pre-feas study commencement and further expl planned, and is significantly less of a placement (and potential dilution) than was proposed

this is dma's first strategic relationship with chinese steelmakers and Xinghua have expressed their desire to build an iron ore supply business in aust

off-take agreements could follow

Yeah its starting to look interesting for sure "Happy" ..... I'm happy as well :

Where there's smoke there's fire, and the smoke has been wafting around for a couple of weeks or more for anyone watching the price action.

In august 2009 in a similar chart position this one basically doubled in a matter of days. If it follows that pattern, a 30 cent SP would not be out of the question in the near future.

Considering the fundamental position is stronger as well, I think this is getting close to some serious re-rating ..... especially if the updated JORC is released with good numbers ... and there is no reason to think it won't. Happy days

 

[kpas]

Re: DMA - Dynasty Metals

A fantastic deal for DMA.

Will definitely be good to have some Chinese on the board. Will give them very easy access to investment funds as well as an important communication pathway to get their ore to market.

 

[bigdog]

Re: DMA - Dynasty Metals

Is there anyone else out there that mines detrital ore at 23-30% fe with 30-37% SiO2 and 13-15% Al203?

Anyone in Australia?

I think some companies in Brazil do but off the top of my head can't recall names.

Would take some serious treatment to beneficiate that to a grade that anyone would buy wouldn't it?

Kennas,
"Is there anyone else out there that mines detrital ore at 23-30% fe with 30-37% SiO2 and 13-15% Al203?"
-- what do these percentages mean?
====================================================
http://www.abnnewswire.net/press/en...or_Prairie_Downs_Iron_Project_Pilbara_WA.html

Sydney, Mar 18, 2010 (ABN Newswire) - Emerging iron ore explorer Dynasty Metals (ASXMA) today announced an initial maiden 453 million tonne JORC Compliant Resources including 129 million tonnes @ 30.5% Fe (equivalent to Calcined Fe "CaFe" of 33%) at a cut-off grade of 27% Fe in the Company's Spearhole Detrital Channel Iron deposit at Prairie Downs in the Pilbara region of Western Australia.

Dynasty says these initial results confirm a number of similarities between Dynasty's Prairie Downs deposit and Brockman Resources' 1.6 billion tonne Marillana Detrital Channel Iron Deposit, 100km to the north of Prairie Downs.

 

[barney]

Re: DMA - Dynasty Metals

Would take some serious treatment to beneficiate that to a grade that anyone would buy wouldn't it?

dma carried out beneficiation testwork early 2010 on 200kg bulk samples, resulting in

fe grades ranging from 53.9-56.9% fe
sio2 grades ranging from 8.6-9.1% sio2
al2o3 grades ranging from 5.7-9.8% al2o3

with cafe grades ranging from 55.7-58.2% cafe

dma is seeking a simple beneficiation process and to this end has during the recently completed drilling program collected bulk samples, each of 5-7 tonnes, from 5 separate sites for further beneficiation testwork

the results from these are expected to be released along with the jorc resource upgrade by the end of this month

pre-feasibility studies are due to commence later this year

Simple benefication certainly raises the grades to a resonable level. Grades should be improved as they learn more about the tenement structure and target the better areas.

Bearing in mind they have only scratched the surface of their tenements (16 klm2 of a possible 3600klm2), sheer volume of resource, even at lower grades is looking potentially very large.

And there is also DSO ore from the Marra Mamba formation deposits which gives a much higher grade ..... An inferred 23Mt Jorc already on that with minimal "effort".

Early days of course, but when Chinese Steel companies put their hands up to join the party, it seems prudent to buy a few balloons

 

[kpas]

Re: DMA - Dynasty Metals

Simple benefication certainly raises the grades to a resonable level. Grades should be improved as they learn more about the tenement structure and target the better areas.

Bearing in mind they have only scratched the surface of their tenements (16 klm2 of a possible 3600klm2), sheer volume of resource, even at lower grades is looking potentially very large.

And there is also DSO ore from the Marra Mamba formation deposits which gives a much higher grade ..... An inferred 23Mt Jorc already on that with minimal "effort".

Early days of course, but when Chinese Steel companies put their hands up to join the party, it seems prudent to buy a few balloons

I agree.

The chinese joining the party is the bit that makes me interested. It is the connection that should ultimately get the project off the ground (in terms of funding and infrastructure but also in finding a buyer for the final product).

It's definitely a positive sign for this company.

 

[barney]

Re: DMA - Dynasty Metals

I agree.

The chinese joining the party is the bit that makes me interested. It is the connection that should ultimately get the project off the ground (in terms of funding and infrastructure but also in finding a buyer for the final product).

It's definitely a positive sign for this company.

A lot more buying interest on this so far today (up 11% atm) ...... You'd think 25 cents will be a bit of a resistance level, but if that breaks anything could happen cause there are not a lot of interested sellers at the moment. Lets hope the resource upgrade gives some good numbers.

LOL ..... I beat you to it "by that much" Adobee

 

[adobee]

Re: DMA - Dynasty Metals

bit of intested pushing this one back to highs not seen for quite a while.. I think Chinese involvement is promising and that with recent push increased JORC not far away.. Fingers crossed for holders.. seems to go pretty much unnoticed at the moment..

 

[kpas]

Re: DMA - Dynasty Metals

bit of intested pushing this one back to highs not seen for quite a while.. I think Chinese involvement is promising and that with recent push increased JORC not far away.. Fingers crossed for holders.. seems to go pretty much unnoticed at the moment..

I imagine the market will probably largely ignore this until the upgraded JORC is released.

Definitely significant headroom considering the market cap is still only $17m.

 

[kpas]

Re: DMA - Dynasty Metals

Not exactly the announcement that we were waiting for, but given the location and competition for these tenements, it is a positive step forward for DMA.

DYNASTY WINS APPLICATION PRIORITY IN
TWO TENEMENTS IN STRONGLY CONTESTED BALLOT
● Further to winning the priority ballot for application E52/2591, Dynasty has also
been successful in winning priority for applications E47/2404 and E47/2396 over
ground prospective for iron ore.
● E47/2396 (24.3km²) is located in the vicinity of Rio Tinto’s Marandoo mine and
has potential to host iron ore deposits.
● E47/2404 (9.5km²) contains Brockman Iron Formation and also has potential for
detrital and channel iron deposits.
● Dynasty’s competitors in the applications for these areas include major iron ore
companies.
● Further increase in strategic tenement holdings – builds on existing Pilbara
tenements and will become part of its Pilbara Region Exploration programs.
● E52/2591 (20.5km²) announced on the 24th September shows strong magnetic
features often associated with buried iron deposits.
Sydney, Australia: The Directors of Dynasty Metals Australia Limited (ASX: DMA) are pleased
to announce success in winning application priority for an additional two tenements, in a
strongly contested ballot involving some major iron ore miners. The tenements are
strategically located in the Pilbara region of Western Australia, and take Dynasty’s tenement
holding to ~4,569km² (granted and in‐application). Being drawn first in the ballot gives
Dynasty priority over a number of competing applications by other major players for these
areas. Securing priority for these areas in the ballot process advances the Company’s strategy
to increase its strategic holdings in the highly prospective Pilbara region and build on its
exploration success on the Prairie Downs Iron Project. The ballot win follows the placement of
shares to the steel maker Hebei XingHua Iron and Steel Co. Ltd, announced to the ASX on 8th
October 2010.

 

[barney]

Re: DMA - Dynasty Metals

Not exactly the announcement that we were waiting for, but given the location and competition for these tenements, it is a positive step forward for DMA.

Bit of speccing today ahead of the awaited Resource update.

Last couple of weeks have seen this one creep up nicely. Its not the buying that is the standout ... more the lack of sellers. It seems the current holders appreciate the potential and are just biding their time till the Company is re-rated by the market. If the upgrade gets over the magic 1 billion tonne mark, a further spike in the SP would be likely based on their current low market cap.
Holding patiently.

 

[Wysiwyg]

Re: DMA - Dynasty Metals

Trading Halt! A resource upgrade that is sensitive enough to move the market? Thursday or the earlier if released. Waiting (still)

 

[adobee]

Re: DMA - Dynasty Metals

good luck to those holding.. didnt get in before hand.. will look at it at following upgrade.. didnt really run that much prior so if its good should have some good upside and very little disappointment ..

 

[happytown]

Re: DMA - Dynasty Metals

expecting the resource upgrade to boost the new resource estimate to somewhere in the vicinity of 1.15bt @ approx 30% fe (using total resource and no fe cut-off, based on previous co anns)

expecting beneficiation results to be released along with the resource upgrade

releasing regular drill results would assist in attracting interest - dma have released very few drill results, specifically none in the current drilling program (since the initial jorc resource estimate)

previous sp action on anns of significance have seen sharp retracements after initial spiking - re-rating will be required to sustain current momentum beyond the jorc upgrade

would like to see significant cap raising, then 6+ rigs drilling hard on the tenements for 12 months flat out, incl some gir-type dso intercepts, with regular updates

 

[thestevo888]

Re: DMA - Dynasty Metals

Announcement just out - JORC upgrade to 1.4bt... not a massive reaction on the market so far, but it will take a while for the news to filter through -happy days

 

[barney]

Re: DMA - Dynasty Metals

Announcement just out - JORC upgrade to 1.4bt... not a massive reaction on the market so far, but it will take a while for the news to filter through -happy days

It certainly is a great announcement. This is starting to look way undervalued at the current market cap ..... happy to sit and wait for now

 

[AKB]

Re: DMA - Dynasty Metals

Looks like the big guns aren't coming to the party.

Might just be the market filling the spike - although it still feels somewhat undervalued; might be a good hold?

Any thoughts? Looks like DMA found it difficult to break away from the afternoon market slump - I don't think it's too concerning, medium term anyway.

 

[adobee]

Re: DMA - Dynasty Metals

would have expected some more movement on this.. but that is standard, the market always does the opposite to my expectations.. Need to jump back on the junior iron ore comparison thread and get kennas to update the price differences with BRM etc ..

Will watch it.. perhaps a few people will get home tonight and like the announcement .. I would think it looks more attractive for a take over now..

 

[happytown]

Re: DMA - Dynasty Metals

...

previous sp action on anns of significance have seen sharp retracements after initial spiking - re-rating will be required to sustain current momentum beyond the jorc upgrade

...

similar sp/vol movement to initial jorc resource ann

easy 100% profit again

nice beneficiation results

 

[barney]

Re: DMA - Dynasty Metals

similar sp/vol movement to initial jorc resource ann

easy 100% profit again

nice beneficiation results

Yeah you called it well "HT" ..... Bit dissapointing in a sense, but considering most of the trades today were smaller fish, its not surprising to see the traders take their profits and move on.

I'm still looking a little further down the track with this one. We have a couple of precedents with iron ore juniors in the Pilbara which indicate a healthy return on investment is highly likely ...... bit of patience required for now.

PS Agree Adobe ...... The resource relative to the market cap is making it look a bit vulnerable to a T/O ...... It would have to be at a healthy premium to todays close to get across the line though.