Quite an interesting announcement from our latest neighbour,...

Quite an interesting announcement from our latest neighbour, Minerals 260 (MI6), on 4 October 2022; they have just entered an agreement to acquire on completion 100% of the “Ti Tree” project highlighted below:




For those of you who do not know, MI6 is the company that was de-merged from LTR and is headed by the latter company’s former MD, the legendary Dave Richards (who, amongst other achievements throughout his illustrious career as a geologist, was instrumental in the discovery of the globally significant Kathleen Valley Li deposit).


The terms of consideration for the potential transaction are quite hefty from MI6’s side (will not bore you with all of the details here - you can read them for yourselves).

Overall I see this corporate activity as a big plus for DRE in terms of not just the growing excitement and prospectivity of the surrounding Gascoyne area as an emerging mineral province of potentially global importance, but also as an implicit endorsement and validation of DRE’s view of and approach to Mangaroon (including 100% REE and its JV project with FQM - noting The Money Intrusion specifically indicated on the map above).

For the avoidance of doubt this is not intended as cross-promotion (I do not hold MI6 at present, albeit did initially following the LTR demerger), but rather commentary that I see as being directly relevant to DRE and its Gascoyne projects.

Very best to all shareholders.