DMA - Dynasty Resources

happytown said:

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

Click to expand...

kennas said:

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?

Click to expand...

kennas said:

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

Click to expand...

happytown said:

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

Click to expand...

barney said:

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

Click to expand...

kpas said:

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.

Click to expand...

adobee said:

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..

Click to expand...

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.

Click to expand...

kpas said:

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.

Click to expand...

thestevo888 said:

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

Click to expand...

happytown said:

...

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

...

Click to expand...

happytown said:

similar sp/vol movement to initial jorc resource ann

easy 100% profit again

nice beneficiation results

Click to expand...