Yeah good close at the high of 2.7c.
For anyone new that's recently jumped on - have a look at DRE's chart - it was 15.5c ($471M market cap) not that long ago, on the back of the Yin REE ironstone(s) discovery.
The share price decline from those highs has been due to the REE/NdPr price decline over the same period.
I wonder how high the share price/market cap would go if/when the NdPr price recovers to the higher levels, especially as since those highs DRE has done a lot of work on the REEs, including:
- making further discoveries
- drilling out a resource from the ironstones of 29.98Mt @ 1.04% TREO (29% NdPr: ~50% higher NdPr:TREO ratio than the world average) (resource is from drilling out only 4km out of 43km of ironstones)
- putting out a 100Mt REE Exploration Target on the ironstones
- discovering the 17km long carbonatites (source of all the ironstone mineralisation in the area)
- doing wide-spaced drilling on carbonatites to test their extent
- drilling out a quick 10.84Mt @ 1.0% TREO resource from the carbonatites
- getting up to 77m @ 0.7%/30m @ 1.0% from 16m depth hits of Niobium mineralisation at the carbonatites
And that's just the REE/Niobium at one of their projects - plenty of irons in the fire/discoveries to be made and/or confirmed with current drilling and the drilling to follow it.
Good to see WA1 also close 27% up today (Wednesday) and on its high (market cap now $1.269B - an increase of $274M just today, and likely going higher tomorrow) - not bad for an explorer that's yet to put out a maiden resource.
Hopefully WA1 gets taken over early/soon and some of that money moves over to DRE (or before takeover will also be fine)!
For comparison (per below image/green highlights), DRE's carbonatites are about 4-5 times bigger than WA1's, and DRE have scattered drilling results/hits of Niobium over most of that 17km, from their recent wide-spaced, first pass drilling.
And there's also drilling result hits of Niobium 5kms away from the carbonatites (9m @ 1.0% Niobium, 18m @ 0.7% Niobium) at the ironstones, and there's also Niobium rock chips ~10km SE from those hits (15.2% & 12.9% Niobium).
Anyway, we'll see what DRE's upcoming targeted Niobium drilling shows up!
Cheers,
GB.
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