DRE

3.23%

1.5¢ dreadnought resources ltd

DRE General discussion topics, page-448

First 448 Last

Share
Profile

Follow
ntrain

508 Posts.

209

29/02/24

17:13

Post #: 72676992
Share

Originally posted by Polonium210: ↑

Depends on where you draw the starting line, but following the acquisition of IronRinger group by Tychean in early 2019 that saw an additional 350 million shares added (plus another 23.3 million in lieu of the cash component)…so by the time Tychean re-named to Dreadnought at that same time there was a total of 1.08 billion SOI.
Since then, regular cap raisings to keep the ship moving forward (note, the SOI totals also includes the issue of securities through deals or tenure acquisition etc);
June 2019 ~$1.3 million (1.39 b SOI)
November 2019 ~$1.7 million (1.74 b SOI)
May 2020 ~$0.5 million (1.89 b SOI)
August 2020 ~$1.5 million (2.10 b SOI)
October 2020 ~$3.5 million (2.25 b SOI)
April 2021 ~$3 million (2.44 b SOI)
September 2021 ~$8 million (2.83 b SOI)
August 2022 ~$12 million (3.04 b SOI)
February 2023 ~$21.4 million (3.3 b SOI)
October 2023 ~$3.9 (3.46 b SOI)
The only reason for listing that is simply to highlight that the SOI have effectively tripled in five years…but at the end of the day that’s exploration really, its the game we choose to play. Plus anyone that participated in the early days has had ample opportunity to lock in a win.

Anyway, in looking forward, we are sitting on a working capital balance of ~5 million which is an ok buffer, not great but ok. I say not great because DRE does have reasonably high overheads (imo). e.g. half-yearly admin costs of $0.84 million, $0.1 million in legal fees, and staff costs of $0.4 million, not to mention the tenure holding costs…all of which adds up.
The issue is that most of these are fixed regardless of whether a drill bit touches the ground or not. Now fair enough, if they were planning to shut up shop and go into hibernation mode then you would also see a reduction of some of those over heads...but to go down that path obviously reduces the potential for a transformative value re-rate through discovery...which is what the aim is.
So, given the company position and assuming a somewhat reduced exploration burn rate as stated by DT (AC drilling still costs money) I personally think we are likely to see a raise before the end of the September quarter...it’ll just be a case of under what conditions and what exploration results come through.

To me leaving it until beyond then, or kicking the can too far down the road, would be irresponsible of management. I get that its a fine-line between raising early vs waiting for better terms...but running the gauntlet and pinning everything on either a change in market sentiment or exploration success is an unnecessary risk in an inherently risky business. I would much prefer they make a preemptive raise to secure funding for the planned exploration strategy then go and test that exploration strategy, rather than being backed into a corner.

Expand

Watch what happens to the share price when everyone starts dumping before end of financial year to take advantage of tax losses!
Unless something massive is discovered very soon, this will get real nasty with end of year coming & credit raise looming...

DRE Price at posting: 1.9¢ Sentiment: Sell Disclosure: Held
2 Upvote

0 Great analysis

Reply

Top Stories

EEG

NT Gov't delivers environmental approval for Empire Energy's Beetaloo Carpentaria pilot gas play

CUF

CuFe sells its Crossroads gold royalty to Northern Star for $4M cash; says better than waiting for mine launch

Week 46 Wrap: Copper hits 2mth low as Trump threatens net zero pace; US rally fades; HotCopper’s picks

IRX

InhaleRX gains approval for clinical trial to test non-opioid therapy for cancer pain

BTH

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

HotCopper Highlights: Your most watched stocks for Week 46, 2024

GDM

Banshee's historic trenches prove rich in antimony and gold for GDM

CLE

Cyclone signs MOU with Vale for development of Iron Bear play

BNL

Blue Star Helium sees approval for five more wells at 'Galactica/Pegasus' project in Colorado

3DA

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

First 448 Last

Add DRE (ASX) to my watchlist

(20min delay)
Last 1.5¢		Change -0.001(3.23%)		Mkt cap ! $56.29M

Open	High	Low	Value	Volume
1.5¢	1.6¢	1.5¢	$20.11K	1.320M

Buyers (Bids)

No.	Vol.	Price($)
30	6264945	1.5¢

Sellers (Offers)

Price($)	Vol.	No.
1.6¢	2100323	7

View Market Depth

No.	Vol.	Price($)
30	6264945	0.015
20	4971353	0.014
15	8783503	0.013
5	2188981	0.012
1	1500000	0.011

Price($)	Vol.	No.
0.016	2100323	7
0.017	7006802	15
0.018	3868495	16
0.019	3569582	13
0.020	1198866	9

Last trade - 16.10pm 15/11/2024 (20 minute delay)

DRE (ASX) Chart

DRE General discussion topics, page-448

NT Gov't delivers environmental approval for Empire Energy's Beetaloo Carpentaria pilot gas play

CuFe sells its Crossroads gold royalty to Northern Star for $4M cash; says better than waiting for mine launch

Week 46 Wrap: Copper hits 2mth low as Trump threatens net zero pace; US rally fades; HotCopper’s picks

InhaleRX gains approval for clinical trial to test non-opioid therapy for cancer pain

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

HotCopper Highlights: Your most watched stocks for Week 46, 2024

Banshee's historic trenches prove rich in antimony and gold for GDM

Cyclone signs MOU with Vale for development of Iron Bear play

Blue Star Helium sees approval for five more wells at 'Galactica/Pegasus' project in Colorado

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

DRE General discussion topics, page-448

Top Stories

NT Gov't delivers environmental approval for Empire Energy's Beetaloo Carpentaria pilot gas play

CuFe sells its Crossroads gold royalty to Northern Star for $4M cash; says better than waiting for mine launch

Week 46 Wrap: Copper hits 2mth low as Trump threatens net zero pace; US rally fades; HotCopper’s picks

InhaleRX gains approval for clinical trial to test non-opioid therapy for cancer pain

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

HotCopper Highlights: Your most watched stocks for Week 46, 2024

Banshee's historic trenches prove rich in antimony and gold for GDM

Cyclone signs MOU with Vale for development of Iron Bear play

Blue Star Helium sees approval for five more wells at 'Galactica/Pegasus' project in Colorado

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News