DRE - Dreadnought Resources

[debtfree]

I'm taking DRE for the January Tipping Comp. It looks like it might have some support in now around that 0.09 area, so hopefully that holds and then gives me the chance for the upside if it comes.
Price above the 20d MA which is also rising, fingers crossed for some profit this month to start the year off in the right direction.

 

[Dona Ferentes]

There's a bit of a backgrounder in the AFR on migration, attracting those with skills and the like. Texan Dean Tuck isn't one, rather he came to do a PhD, was homeless, lucked into jobs, had a stint at BHP before landing CEO at DRE....


Paul Chapman, an accountant and serial company-starter, was looking for someone “young and dumb to do all the dirty work” on a new exploration business he was going to create out of a sharemarket shell, Tuck says.

The company had $300,000 in cash, no employees, no mining or exploration approvals, and no relationships with organisations that owned the land it wanted to explore. Tuck offered to become the chief executive – and pay his own wage. He invested $30,000, which covered three months of his salary.

It wasn’t easy, but four years and 12 hires later, Dreadnought Resources reported, on 28 December, that it had discovered neodymium and praseodymium, two rare earths used in electric cars and wind turbines. The ore body, at the Yin prospect near Exmouth, contains 14 million tonnes, of which 1 per cent is estimated to be rare earths. Drilling over the next six months should find more.

Dreadnought, without raising one dollar of revenue, is now worth $300 million.

Tuck says he borrowed his leadership style from Google. “They train people up so the business wants them, but they want to leave,” he says. “I look forward to the day they [the Dreadnought staff] go off on their own and start their own businesses.”

 

[Sean K]

I'm taking DRE for the January Tipping Comp. It looks like it might have some support in now around that 0.09 area, so hopefully that holds and then gives me the chance for the upside if it comes.
Price above the 20d MA which is also rising, fingers crossed for some profit this month to start the year off in the right direction.

View attachment 151167

Hopefully this is good for a spike.

 

[Sean K]

Hopefully this is good for a spike.

View attachment 152006

This was good for a spike in late Jan, but then - eeeeek. It's almost halved in a month and a bit. The results must have been very well factored in and punters expected much more.

 

[Dona Ferentes]

went as high as 6.9c, now 5.8c. .... up 40 per cent .

Massive & Disseminated Ni-Cu Sulphides Intersected – Mangaroon (Earn-in)

HIGHLIGHTS
• RC drilling recently commenced at the Bookathanna North prospect along the 45km Money Intrusion, part of the Mangaroon Ni-Cu-PGE Project (First Quantum Minerals Earn-in). A total of 5 holes was planned for ~1,000m followed by down hole EM.
• The first hole (REYRC013, for 153m) was targeting a 37,000S conductor plate and has intersected ~14m of Ni-Cu sulphide mineralisation from 37m. The intersection includes 2m of massive sulphides and 12m of disseminated sulphides. The massive sulphides appear to be high tenor, comprised of 40-50% combined pentlandite and chalcopyrite in equal proportions.
• REYRC013 was the first of 2 holes to be drilled at Bookathanna North where two highly conductive plates have been modelled over a ~100m strike. Based on these results, additional holes will be drilled and DHEM crews are mobilising to Bookathanna North. After Bookthanna North, the rig will move to High Range to test 3 further conductors.
• Samples for REYRC013 are being rushed with assays expected in September 2023. Drilling is currently expected to take 1-2 weeks with assays and DHEM results expected in October 2023.
• This program is fully funded by First Quantum Minerals.

 

[IvoryWolf]

In response to a number of queries received at our Facebook page (ASX Traders United) regarding this particular stock, here's a chart analysis for Dreadnought Resources (DRE) considering the recent price action on 31st August.

 

[Miner]

Normally with such discovery, market leaps up but in this instance, market blinked, sniffed, sneezed and coughed out.
What could be the latent reason for such disinterest or something is hidden ?

@Sean K @debtfree @greggles @divs4ever @peter2 and others please - what you think ?

 

[Sean K]

Normally with such discovery, market leaps up but in this instance, market blinked, sniffed, sneezed and coughed out.
What could be the latent reason for such disinterest or something is hidden ?
View attachment 167037
@Sean K @debtfree @greggles @divs4ever @peter2 and others please - what you think ?

Very good grades but not sure of the potential tonnage. Looks like it might be a nuggety deposit and perhaps hard to mine if it does get to scale. Will be interesting to see follow up drilling and if it hangs together in some sort of orderly fashion.

 

[IvoryWolf]

Normally with such discovery, market leaps up but in this instance, market blinked, sniffed, sneezed and coughed out.
What could be the latent reason for such disinterest or something is hidden ?

@Sean K @debtfree @greggles @divs4ever @peter2 and others please - what you think ?

Share price movement may be get interesting once recent resistance of $0.036 from 13th November is cleared @Miner - until then, looks like it's struggling (see today's price wick as well as the price wick from 30th November). All of the best!

 

[Miner]

Share price movement may be get interesting once recent resistance of $0.036 from 13th November is cleared @Miner - until then, looks like it's struggling (see today's price wick as well as the price wick from 30th November). All of the best!

View attachment 167047

Thanks @IvoryWolf and @Sean K - both of your responses are useful to support the old adage : all that glitters is not gold.

 

[Dona Ferentes]

glisters

 

[Sean K]

In light of the ARU orgasm I'm searching for rare earths that will get a rub by the government. $2.1m to the Dred isn't quite $800m but have they got enough to come under the spotlight down the track? Their SP has been going the same way as ARUs was. South.

Maybe this project is nothing like Nolan's.

And, maybe they've just got too many projects running and can't focus..

 

[noirua]

Dreadnought goes after top gold targets at Yilgarn

Dreadnought Resources has begun its first focused campaign of drilling on four high priority gold targets at its Central Yilgarn project.

themarketonline.com.au

05 April 2024 10:33(AEDT) Dreadnought Resources (ASX: DRE) – a multi-metal explorer with a suite of projects across Western Australia – has begun its first focused campaign of drilling on four high priority gold targets at its Central Yilgarn project.

Earlier exploration by Dreadnought on the targets in question – Viper, Leghorn, Chicken Little and Honey – has revealed intercepts such as 15 metres at 1.5grams per tonne gold from 12 metres, including 3 metres at 6.7grams per tonne from 12 metres (Viper) and 48 metres at 0.7 grams per tonne gold from 27 metres including 21 metres at 1.3 grams per tonne from 54 metres (Leghorn).

 

[rcw1]

Good evening
No money left in the kitty.

Announcement 05/08/24 (see attached):

Firm commitments have been received for $3.71m (before costs) at an issue price of $0.018 per share from institutional/sophisticated investors and Directors.
Directors have committed to invest $0.21m (subject to shareholder approval) bringing their total investment to $6.81m.

Proceeds to be used on exploration activities including: - - - Niobium drilling at the Gifford Creek Carbonatite; Mangaroon gold drilling; and Working capital.

Announcement 25/10/24 (see attached):

• Dreadnought is pleased to advise that it has been awarded a co-funded diamond drilling grant under the WA Government’s merit-based Exploration Incentive Scheme (“EIS”) for its Mangaroon Critical Metals Project.
• This is the third EIS grant that Dreadnought has received this year.
• The EIS co-funded drilling grant is for up to $180,000 which will go towards two deep diamond drill holes to test the Stinger Niobium Discovery.

Quarterly published 30/10/24 (attached):

• Developed a commercialisation strategy for gold which included a strategic acquisition of ~300km2 of highly prospective ground along the Mangaroon Shear Zone at Mangaroon Au (ASX: 26 July 2024).
• Identified four strong off-hole conductors at Tarraji Yampi. (ASX: 4 July 2024).
• Intercepted thick high-grade niobium in Gifford Creek Carbonatite at Mangaroon Nb-REE. (ASX: 19 August 2024 and 20 September 2024).
• Identified visual sulphides at the Tiger Ci-Ai-Zn-Ag prospect - Mangaroon Gold. (ASX: 15 August 2024). Subsequent to the quarter end, the Company has
• Released high grade gold intercepts from the Star of Mangaroon and significant results from Popeye, as well as visible gold logged in three diamond holes drilled as part of a Resource drilling program. (ASX: 1 October 2024).
• Released significant results from Tarraji-Yampi with six new zones of mineralisation and four off-hole conductors. (ASX: 7 October 2024). • Released high grade niobium results from Mangaroon confirming fresh mineralisation over ~1.2km of strike. (ASX: 9 October 2024).
• Released exceptional gold recoveries from Star of Mangaroon with metallurgical results highlighting the quality of the mineralisation, supporting the gold commercialisation strategy. (ASX: 14 October 2024).
• Announced the award of a further co-funded grant under the Exploration Incentive Scheme (“EIS”) for diamond drilling which will provide critical information for the ongoing assessment of the Gifford Creek Carbonatite. (ASX: 25 October 2024).
• Released further results from the Tiger VMS prospect at Mangaroon with significant base metal intercepts. (ASX: 29 October 2024).

weekly chart

Daily Chart

Not holding
Have a great week.


Kind regards
rcw1