DRE 6.67% 1.6¢ dreadnought resources ltd

Ann: Metallurgical Test Work Supports High-Value Concentrate, page-47

  1. 410 Posts.
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    Not sure tbh, ultimately that would be a question for DT at the next shareholder interaction session or conference etc.

    I’m as keen as the rest to see work progress in the Kimberly…but personally I’m relatively comfortable with the stated timelines that DRE presented recently….i.e., geophysics and further target gen in the first half of this year then drilling in the second half. I don’t see any need for a program and/or project specific CR at this point in time. From the latest 5B (end of March) DRE had 4.4 quarters of funding available based on current burn-rate, obviously that changes depending on what happens at Yin and the carbonatites. But on that note…the administration and corporate costs seem high to me, I don’t know exactly what is going into this (legal, share registry, audit and rents etc) but $395k for the quarter and 1.25 million year to date seems high compared to others, keeping in mind staff costs are a separate line item not included in this figure….I’m assuming the previous CR fee is included in here but still.

    Imo logistics are paramount for the Kimberly work…id much rather they plan for program timelines but have backups/fallbacks if the situation changes (weather etc) rather than committing 100% and going for it whatever the cost i.e. weather events etc.
    Want to burn capital….get a helicopter involved. Its one of the reasons I dislike the promotional photo on the presentations….I get it, it looks good and shows the greenfield spirit, and yes...there are times and situations where they are the only option and can reduce cost….but my point is if they can be avoided through being flexible with timing then that’s my preference, rather than spending up big just to fulfill an expectation.

 
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