On a brighter note we still have 60.3m Atlantic lithium shares ( Which were renamed from Ironridge) then the gold assets were spun off and yet to be listed.
Jan-March Q report... DGR Global currently holds 73,022,667 shares in IronRidge Resources with a current market value of approximately
$27.04m.Oct Q report ... DGR Global currently holds approximately 67 million shares in IronRidge Resources with a current market value of approximately $23m.
Dec Q report ... DGR Global currently holds 60,363,875 shares in Atlantic Lithium Ltd with a current market value of approximately
$40.31m ,,, plus 1 Ricca Resources share for every 8 Ironridge shares when the new IPO hits town. Looking back to Jan21 to Jan22 its clear to see DGRs investment in IRR has more than doubled even though DGR sold about 13m shares at a guess of 22p ? = 40c x 13m = $5m cashed out !
I was concerned with reports DGR were selling off the Lithium company as we didn't know where they would stop but to me its looks like prudent management to fund the next up and coming "Dream" (as its called on the DGR company presentation)----AUBURN will be a cracker ! IMO
https://sicapital.co.uk/wp-content/uploads/2021/11/SI-Capital-IronRidge-Resources.pdfIMO whats holding DGR back is AJQ. AJQ holds huge acerage in some really juicy juristrictions but the sooner DGR gets that monkey off our backs the better. That being said if it all works out in the next 6 months DGR should have another company holding under its belt and still hold AJQ.
Here's also a few snippets I took from this Q report.
Atlantic Lithium-------------------------------------------
I'm always wondering about these Iron ore assets which formed the basis of major investment for Ironridge at the start of its LSE listing ..... Retention of highly prospective hematite rich iron targets in Tchibanga and Belinga Sud licence areas in **on (total tenure 5,400km2). I'm still not sure if this asset is going to Ricca or not but im glad they still have it.
Auburn 39.37% DGR ------------------------------------------------------
Yes, Auburn has diluted down to 39.37% but that's because Auburn acquired Ripple Resources (was a great deal IMO )
"Further planning of exploration activities on the Ripple Resources owned South Nicholson Project area, for which DGR is the Operator. MMI soil sampling test results from the field programme are anticipated to be received in the near future"
• Field exploration mapping and first phase sampling programme on the recently acquired South Nicholson Project completed in September 2021,
with assay results imminent.... will we get updated or have to wait another 3 months ?
Pinnacle Gold...94% DGR ------------------------------------
• 6 EPMs for gold in Queensland. • 2 MELs for gold and copper the Northern Territory.
• Collaborative ground gravity infill survey with NTGS across the Northern Territory tenements is planned for next quarter
Coolgarra Minerals....100% DGR------------------------------
• 6 Exploration Permits (EPMs) for gold, nickel, cobalt, and antimony in North Qld
• Field sampling and mapping planned for the next quarter.
Happy with what I'm seeing, I just wish there were more updates to drive the shareprice to a balanced Marketcap instead of no updates and the SP getting smashed then diluted.
Looks like the coming half year is going to see alot of progress from all the planning.... Increased my sentiment from None to Hold .
