From prospectus,media articles and company presentations...

From prospectus,media articles and company presentations

https://duke-exploration.com.au/

•IPO Price $0.25 per share
•Total SOI 74.8 million
•Mcap $18.7 million
•EV at IPO (after costs) $10.3 million

Interests in 5 tenements that have drill ready copper, silver and gold opportunities in QLD & NSW.

▪ The Bundarra porphyry copper, silver and gold project is the most advanced: 100% owned. Located in mining friendly Central Queensland 145 km south west of Mackay and 85 km east of Moranbah by road.

▪ Prairie Creek an epithermal gold project 80 km north of Cracow

▪ Red Hill conceptual gold and copper porphyry targets in the Lachlan Fold Belt: 100% owned.

▪ Up to 10% Free Carried Equity in tenements held by Lachlan Resources Pty Ltd, a wholly owned subsidiary of Emmerson Resources (ASX: ERM) covering new porphyry systems in the highly prospective Lachlan Fold Belt.

The Bundarra project near term copper, silver and gold mine development opportunity.

▪ High grade (7-16% Cu) historic copper production – Bundarra was recognized as the highest grade copper project in Australia in 1800s with 47 historic workings, including underground mines, across the tenement

▪ Advanced exploration – Exploration drilling and geophysics confirms Tier One scale potential. Recent work confirms historic data, with a strong correlation with recent drilling and the geophysical model, informing an independent Exploration .Target of copper and silver endowment, with exponential growth potential from 103 untested targets

Aim of drilling to provide a continuous sample of the mapped historic veins and intersect the granodiorite contact at depth (550m drilled).
▪ Copper, silver, gold and molybdenum mineralisation was intersected in all holes, all mapped veins intersected and five new veins intersected between the known veins.

▪ Highest grade vein assays returned to date, including 16.95% Cu, 287 g/t Ag and 0.31 g/t Au and 10.45% Cu, 191 g/t Ag and 0.27 g/t Au

▪ Veins comprise massive chalcopyrite veins and breccia in highly altered siltstone hornfels.

▪ Veins pinch and swell along dip and strike but have good continuity and are predictable over 440m strike from drilling.

▪ Copper intersected in shear zones in the granodiorite, which may also be a target.






Prairie Creek Gold project offers potential for a new epithermal gold discovery 80km from Cracow

▪ Historical drill hole intersection of 52m at 2.1g/t gold and large geochemical footprint. Tenement covers numerous historical occurrences of gold mineralisation associated with Grandore granitic complex and Camboon Volcanics of the Auburn Arch.

▪ Located in established mineral province, between Theodore/Cracow (80km to S in same belt of rocks: 2 Moz Au) and Mt Morgan (9 Moz Au).

▪ The area now recognized for both low and high sulphidation styles of epithermal gold mineralisation and porphyry gold and copper mineralisation.



Redhil

Targeting Cadia look-alikes (37 M oz Au, 7.5 Mt Cu).

▪ Surface results including 0.17% Cu, 11.5 g/t Au support base metal and gold mineralisation.

▪ Historical workings highlight potentially multiple mineralisation styles including skarn, epithermal and VMS which may be related to buried
porphyry intrusive sources.

▪ Magnetic images reveals a number of circular and sub-circular magnetic anomalies indicative of buried intrusions, (porphyries) and associated potential epithermal and skarn targets.

▪ Magnetic inversion studies have defined 11 near surface magnetic anomalies
that require drill testing

They also have a great team

Experienced team – scientific, technical, corporate & governance

• ASX Board and Management experience
• History of successful exploration and mine development

Conclusion :

It is very well priced at 10 mil EV . They have a right mix of brownfield and Greenfield projects .They are not only drill ready but they have been actually drilling and have been generating some solid hits which is likely to continue.

Worth mentioning an exceptionally capable team who got successful explorations history.

Looking at some of the recent Explorers IPOs performance... I.e. Siren Gold , Miramar , Suvo ,Coda etc IMO Duke will do very well at open and later it will depend on exploration success / News flow

I think it should open between 40c to 50c ... they are targeting JORC resource in June 2021 .. subject to exploration success ... It should trade above $ 1 in next 6 to 12 months !

ALL IMO

DYOR

GLTAH