[VIDEO] Dreadnought Resources (ASX:DRE): Discovering a New Rare Earth Province, page-29

Ahh, my fourth ape insult, broker manipulating HC friend wants me to be concise. Aside from the fact I don;t do concise, heading away shortly for the weekend so my precise DRE desktop has to wait unfortunately (I do this as a hobby not job btw). Enough time to tell you how I think it went down though...

DRE have tenements on watch in the Ashburton area and others maybe with the right geology to test their idea. These tenements or previous iterations have many exploration reports filed with the mines dept, they did their research before previous tenement owner decided to drop and the ground went open for application.

There is a strong correlation between unconformity, basin style crustal fault driven alteration and U&Th. Browns Range was discovered by following up closely associated uranium anomalies. Athabasca Basin is famous for uranium anomalies and nearly all RE enrichment there I could find was associated with elevated U&Th. Good chance the Bresnahan tenements had historical U&Th surveys/samples in the past from numerous iterations of uranium exploration. Just like Yangibana... the hope is alteration/veining/ironstones never previously tested for RE are enriched in RE. So, our intrepid DRE geos drive to some of the previously identified U&Th anomalies along the regional faults, and/or just Tojo Map along them with their scintillometer looking for high U&Th readings in prospective slica-iron-other alteration outcrops.

Early prospect rock chip sampling isn't about taking representative channel or some such... it's about cherry picking the most likely samples to demonstrate mineralisation potential. If the very best rocks look good, then go back and do your exploration thing generating and ranking drill targets on scale/grade potential. The idea is good logic, cheap ealry stage exploration for proof of concept, then see how it goes. You seen the pics, a couple of hand sized rocks in the sample bag next to the scintillometer.

I'm impressed by the project gen creativity and pragmatic action plan. I'm not impressed by tic toc phone skits spliced into a slick reality TV promo video. But that's just me, old school type more interested in what the results are telling me than the management. Management been selling their new projects as the next good thang since Adam was a boy, just using the tools of the times. The best two samples were low grade ~1.25% TREO, and the HREE is probably all yttrium because there is precious little DyTb.

I was going to niggle Eddy and his crew yesterday about DRE re-testing 10c support but that sort of thing is not my style. That said, here you guys are at 9.5c after all the ramping of "going to 20c shortly". Market isn;t that bad, yet the few buyers can't even hold the line against a few CR flippers got cold feet. Why is that? Is that because all the sellers this week, last week, last 6 months have no idea and must be allergic to making money because everyone here agrees it;s going to 20c just as soon as the CR is out of the way? Some people posting Bresnahan makes DRE a TO target shortly and $1 not too long after The mind really does boggle.

Here's a thought, not every seller is an idiot, they probably have good reasons. There are probably as many sellers have an idea of what lab results are coming based on the trusty XRF machine as there were buyers had an idea of good results during the fantastic 2022 run up (https://hotcopper.com.au/posts/66069046/single). That delay between drill and lab assay is a two-edge sword, not that it crossed anyone's mind here disappointment was a possibility lol. Maybe pending results are great and it's only nervous CR flippers, maybe it's savvy LT holders stepping off the escalator before Lassonde gets too far into action? Who knows why there are no buyers and the price cutting through support like a knife though butter?

So many questions, so much going on, so much hanging on the coming results next 3-6 months. What to do? Again, call me old fashioned, but I try to bone up as much as possible on what constitutes value or not, how much that value is worth, then use that research to time an entry/exit depending on my investment time frame and the stage of exploration/development. Sounds like lot of work doesn't it... well, it is. As someone said of your intrepid leader Texas Hold'em, the harder one works the luckier they get. I wish Dean and his team the very best of luck, I really do. That won't stop me following the results no matter how good a bloke he is.

GLTAH