Ferret's Stock to Watch: DYNASTY METALS AUSTRALIA08:51,...

Ferret's Stock to Watch: DYNASTY METALS AUSTRALIA
08:51, Wednesday, 10 January 2007

NEW CHAIRMAN SHOULD MAKE A BIG DIFFERENCE TO PROSPECTS

Sydney - Wednesday - January 10: (RWE Aust Business News)
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OVERVIEW
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Dynasty has to be an encouraging name for a speculative miner
which aims to become a long-term producer of a variety of metals.

Its life has been very short, having been on the list for a
little more than a year.

In that time Dynasty Metals Australia Ltd's (ASX:DMA & DMAO) aim has
been to explore, and where possible, to develop its projects, following a
focus on 100 per cent acquisition and evaluation of new areas.

Of major importance to the future of Dynasty has been the news
that David McSweeney had accepted an invitation to become non-executive
chairman of the company.

He has had an impressive career in the mining and resources
industry.

As a founding director of Gindalbie Metals Ltd and the managing
director of the company for over a decade, Mr McSweeney was responsible
for transforming Gindalbie from a junior gold exploration and mining
company into a diversified mid-tier mining company with a market
capitalisation in excess of $300 million.

Mr McSweeney said he was attracted to Dynasty because of its
excellent portfolio of diverse assets in uranium, gold, base metals and
its coal bed methane project in the mid west.

"Many uranium companies today have several projects, but Dynasty
has grown its asset base in just 12 months from five to 20 uranium
projects," Mr McSweeney said.

"Dynasty has an aggressive approach to project acquisition and I
believe I can assist in focusing the company on its core business of
developing the uranium exploration projects and seeking joint venture
partners for some of their projects," he said.

It fits in with Rita Brooks as managing director and Graham
Anderson (director and company secretary).

The board also relies on the technical expertise of its
exploration consultant Alan Svanosio.

Dynasty's outgoing chairman, Peter Andrews, will remain on the
Dynasty board as a non-executive director.

Dynasty has a portfolio of Australian exploration projects,
which are variously prospective for a wide range of commodities,
including uranium, coal seam gas, gold, nickel and iron.

All of these projects have been identified by Ms Brooks and have
been tenured by applications over then open ground.

The process is continuing and has allowed the company to start
each project with a 100 per cent interest.

This assessment and acquisition strategy means that the company
has not incurred expensive acquisition costs and it is able to evaluate
its projects in-house and with selected consultants.

Joint ventures to spread the exploration risks and to maximise
the chances of discovery are continually sought.

The company considers there is potential for discovery with this
exploration strategy.

Dynasty is aiming to add value to its investment in its
exploration projects and to date the company is encouraged that this
strategy preserves funds and allows it to evaluate more advanced
projects.

Since listing, Dynasty has reviewed several more advanced
projects, but has not taken any of them past this stage.

Dynasty has been adding to its uranium portfolio and is
continually looking for opportunities to expand as an energy portfolio,
while systematically exploring its IPO exploration projects portfolio.

The results from Dynasty's first drilling program at its Bendoc
gold project were announced in April and are considered encouraging.

The company is looking forward to drill testing more projects.

Of particular interest will be the drill testing of Dynasty's
new coal seam gas project.

In Australia there had been a paucity of uranium exploration in
the last 20 years until recently and the company has been acquiring
projects with uranium potential that it considers warrant further
exploration.

The key objective in Dynasty's growth strategy in uranium
exploration is to develop its existing uranium prospects through
exploration and drilling.

Dynasty is well placed to participate in uranium exploration in
2007. It now holds 23 uranium exploration licences in Western
Australia and the Northern Territory, covering nearly 5,000 square
kilometres, several of which are have recorded occurrences of primary
(calcrete) and secondary (pegmatites) styles of uranium mineralisation.

At listing Dynasty's had three uranium exploration projects and
none of its tenements were granted.

Since then, 18 new applications have been made and field work
has commenced on five recently granted exploration licences.

SHARE PRICE MOVEMENTS
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Shares of Dynasty yesterday finished steady at 26c. Rolling high
for the year is 42c and the low 12c. The company has only 23.9 million
shares on issue with a small market cap of $6.2 million.

The Yanrey Project is situated 95km southeast of Onslow and
comprises four exploration licences, the first three of which were
granted in August.

The palaeochannel which host the Manyingee Uranium Deposit
(Inferred Resource of 12,000 tonnes U3O8 @ 0.08pc) lies about 500 metres
west of Dynasty's E09/1538 and probably continues into it.

Several other major palaeochannels have been identified by
previous explorers, including Osbourne, Bennett and Main Channel, and
Dynasty's tenements include parts of these.

Identifying the location, extent and depth of the palaeochannels
prior to drilling will be the next stage in testing this area.

Meanwhile the Hector Bore prospect, situated about 250km east of
Carnarvon, contains several uranium occurrences identified from previous
exploration.

E09/1204 has been granted and two more applications were made
for to the north and south of Hector Bore to extend the project area.

A first reconnaissance was made in June and second sampling and
mapping visit was made in August.

BACKGROUND
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Dynasty Metals Australia Ltd incorporated in August 2004 to
acquire a diverse portfolio of exploration projects.

It is an exploration company developing gold, uranium, nickel
and iron projects in Western Australia and Victoria.

Dynasty listed on the Australian Stock Exchange on December 6,
2005.

On listing the company raised $2.7 million from its IPO issue
of shares.

The capital raised provided the company with funding to begin
exploration on its projects for uranium, gold, nickel and iron.

In February there was an entitlement issue of options to
shareholders followed by a placement of shares in June.

Dynasty has on hand about $2.8 million with an issued capital of
28,519,583 shares and 25,794,700 options.

Dynasty recently completed a ground scintillometer and sampling
program on its Mt Phillips uranium project in the Gascoyne and
anticipates receiving results from this work in the coming week.

ENDS

Copyright © 2007 RWE Australian Business News. All rights reserved.