Australian (ASX) Stock Market Forum

DRE - Dreadnought Resources

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Muschu said:
A friend emailed me today and included in the message that she and her husband have 2 million shares bought at 0.03 cents.
I had never heard of Tychean prior to today.
Does anyone have any comment to offer on TYK?
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2,000,000 shares @ 0.03 cents = 60,000 cents = $600.

Muschu said:


Have you got that calculation right skc... ?
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I only had 1 drink tonight :D

On related matter: here's a relevant youtube video.

https://www.youtube.com/watch?v=zN9LZ3ojnxY
 
Good youtube.

I checked with friends who originally said they bought at 0.03, without adding whether this was cents or dollars.

Turns out they bought at $0.003.

Now they are waiting for the price of gold to rocket.....:)
 
Muschu said:
Good youtube.

I checked with friends who originally said they bought at 0.03, without adding whether this was cents or dollars.

Turns out they bought at $0.003.

Now they are waiting for the price of gold to rocket.....:)
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OK.

FWIW, the lowest price a stock can trade on the ASX is $0.001 (or 0.1c). So by technical definition (not technical analysis) they bought pretty close to the bottom.

All the best to them.
 
Muschu said:
Yes $6000
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I think they have lost that money, I took a look at this company a few weeks ago after hearing about it on "your money, your call", However I couldn't bring myself to even make a $500 spec play on it, I just don't think it has a hope of ever producing any value.
 
Value Collector said:
wouldn't they have bought at $0.003 making it $6000,

$600 would be a buy price of $0.0003, I didn't think things could trade that low.
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No it can't trade that low on the ASX. But I was going by the information provided in the first post... and there was no mention whether it was purchased on market or otherwise.

Anyway, it's now clarified that the position was bought @ 0.3c or $0.003, making it a $6,000 position.

I'd opine that my comment "not exactly a high conviction call" still stands.
 
Value Collector said:
I think they have lost that money, I took a look at this company a few weeks ago after hearing about it on "your money, your call", However I couldn't bring myself to even make a $500 spec play on it, I just don't think it has a hope of ever producing any value.
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I tend to agree. Perhaps their only hope is that someone might buy the lease.
 
Muschu said:
I tend to agree. Perhaps their only hope is that someone might buy the lease.
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Yeah, but they had $100K in the bank in December, they have issued my shares to get some more cash, which they will burn through in no time.

They will have to keep coming to market for more cash, and each time it dilutes the existing holders more, and eventually they will need to consolidate the Billions of shares on issue to allow them to continue this. So the 2,000,000 old shares my eventually become 2,000 new shares which end up sinking to $0.003 again.

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Maybe I am too pessimistic on this one, But I really can't see a pathway to building shareholder value, even if they did sell a mining lease, the profits may just get sunk into dead end project and burned over time.
 
On February 28th, 2019, Tychean Resources Limited (TYK) changed its name and ASX code to Dreadnought Resources Limited (DRE).
 
Hey guys, anyone looking for a mining exploration company to get involved in should really check these guys out, up 40% today on the ASX, still trading under 1c, some big results in the works, first drilling on a previously restricted site and other projects. Feeling super bullish! Good luck!
 
Annakamala said:
Hey guys, anyone looking for a mining exploration company to get involved in should really check these guys out, up 40% today on the ASX, still trading under 1c, some big results in the works, first drilling on a previously restricted site and other projects. Feeling super bullish! Good luck!
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Welcome to ASF Annakamala …. Please feel free to elaborate on the positives you see with DRE.

I had a quick look and they appear to have some quality tenement areas …… the have a market cap of around $9 million which is low/good ..... but only a bit over $1 million cash in the coffers.

They will obviously need more cash in the near term which could be their biggest hurdle unless they have some serious Investors lined up to participate. ... Thoughts?
 
https://cdn-api.markitdigital.com/a...access_token=83ff96335c2d45a094df02a206a39ff4 - WHY DID THEY PUT THEIR MONEY ? (and why can't I too :))
Moving into right direction with the value of stock got almost tripled in recent months. Hoping to put my tip for November.
SHH did not become my winning horse.
Drilling starting in November first week :)
Disclaimer - always DYOR. I am holding and biased to get this stock succeeded. But - But - no ramping from me.
 
I've put this on my watch list simply because they produce a very good powerpoint.

Plus, I like things under 2c.

Purely speculative at this stage you'd think.

Presentation

Screen Shot 2021-03-18 at 12.21.31 pm.png
 
I really don't know why I'm following this puppy. Maybe it's the name. Are they actually putting holes in the ground, or just making powerpoints? Looks like it's started to go up, for no apparent reason. :confused:
Screen Shot 2021-05-06 at 11.50.22 am.png


Screen Shot 2021-05-06 at 11.41.55 am.png
 
kennas said:
Are they actually putting holes in the ground, or just making powerpoints? Looks like it's started to go up, for no apparent reason. :confused:
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They've been drilling and it looks like there's quite a bit of target testing and news flow to come in the next few months. Punters getting in early?

DRE060521.png
 
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