DRE

6.67%

1.6¢ dreadnought resources ltd

As I said when I made my June...

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davybabyk

2,905 Posts.

12689

06/08/22

12:18

Post #: 62961391
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Originally posted by davybabyk: ↑

Yeah. Wow. $12m raised and only 1 - 1.5 million being spent on the other projects, so 88% - 92% of the funding is going into the Mangaroon Rare Earths.

"We will have a lot of evolving news flow...."

I think that is quite the understatement. The incredible early results - including assays which validate the XRF readings in the field - have totally turned up the heat on Mangaroon. With 3 km of strike length and 66 follow up targets - plus the carbonatite intrusions as well - those two drill rigs will be very very busy.

Interesting to hear Dean talk about "66 plus rare earths targets to go through and additional rare earth targets to define". He goes on to say that: "we will also have the team going through all those anomalies that we want to go look at, to make sure we have additional targets coming through that pipeline." I think that's code for - we've been running around the scrub with the XRF unit, guys, and you ain't seen nothing yet.....

No wonder the SP is heading up and up. It's worth bearing in mind, as well, that the delayed results from Illaara and Terraji-Yampi could also surprise in a good way, and I don't think any of that is factored into the current share price. Dean is very sharp, as we have seen, and he has been substantially expanding the Yilgarn/Illaara region tenements. There will be good reason for that.

I made a major addition to my DRE holdings in late June at 4 cents a share and that parcel is now up +89%. Sure I could take the profit, but my assessment (personal opinion not advice), is that this party has barely started. Instead of selling, I plan to free up cash elsewhere and buy some more.

Cheers

Dave

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As I said when I made my June purchase:

https://hotcopper.com.au/threads/ann-gold-coast-investment-showcase-presentation.6808057/page-35?post_id=62230806

Not claiming any brilliance here. If I really was smart I would have bought lots lots more than I did....

Cheers

Dave

DRE Price at posting: 7.5¢ Sentiment: Buy Disclosure: Held
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Last 1.6¢		Change 0.001(6.67%)		Mkt cap ! $60.04M

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