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DRE - DREADNOUGHT RESOURCES LTD


blacksheep
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Noticed this one received a "Please Explain" from ASX - responded this morning with a stock standard "I know nothing" Had a quick look at HC - the place you go to see who is ramping what :biggrin: Seems Tolga Kumova bought a swag @ .004c - "I bought a swag at .004c on a tip from a guy who knows what he is doing a few weeks back. Hadn't paid attention and now think I should actually do some homework haha". - and the troops are excited.

 

Tolga Kumova tweeted earlier today that he has bought in! Giddyup!

 

and

 

This might explain some of the buying:

 

https://twitter.com/KumovaTolga/status/1168732042101743616

 

Mr Deep Pockets + Friends have had quite a few big run ups (SYR, BGL, NCZ, etc).

 

Plenty of significant activities/newsflow coming up.

 

Yeah, but Mr Deep Pockets + Friends have also had a number of duds which are not mentioned - all of which did indeed run hard on the back of his involvement, but sadly also came crashing back down to earth when the hype did not match the results.

 

The project that is getting people excited is subject to a "dispute"

 

CLAIM BY ARROW MINERALS LTD. (ASX:AMD)

Dreadnought Resources Ltd (âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“Dreadnoughtâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚ or âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“the Companyâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚ÂÂ) wishes to advise that a notification

of a claim by Arrow Minerals Ltd (âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“Arrowâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚ÂÂ) relating to the Companyâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s recent acquisition of the

Illaara Gold Project has been received. Arrow has claimed the misuse of confidential information by

Dreadnought in relation to the acquisition of the Illaara Gold Project.

 

Based on that claim, Arrow has sent correspondence to the Company stating that Arrow believes

they are entitled to claim the Companyâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s interest in the Illaara Gold Project recently acquired by

Dreadnought. Arrow has informed Dreadnought that they believe the Illaara Gold Project is now

held on trust for Arrow. No formal court proceedings have been instigated by Arrow. However, Arrow

has threatened to commence proceedings if the dispute is not resolved.

Dreadnought strongly refutes Arrowâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s claim. The Company is seeking appropriate legal advice and

will vigorously defend the claim should the threatened proceedings commence.

 

As advised in the Companyâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s June 2019 quarterly, target definition exploration at the Illaara Gold

Project is expected to commence in late August 2019.

On behalf of the Board,

 

RESPONSE TO ANNOUNCEMENT âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã¢â‚¬Å“

DREADNOUGHT RESOURCES LIMITED (ASX: DRE)

Arrow Minerals Limited (Arrow or the Company) refers to Dreadnought Resources Limitedâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s

(ASX: DRE) (Dreadnought) announcement âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“Claim by Arrow Minerals Ltd.âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚ÂÂ, lodged today.

 

Arrow confirms that it has sent letters to Dreadnought and Ironringer (Illaara) Pty. Ltd. (Ironringer)

requesting a meeting to discuss Ironringerâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s acquisition of the Illaara Gold Project and subsequent

assignment to Dreadnought.

 

Ironringer and Dreadnought have not responded to Arrowâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s request. Arrow reserves its rights.

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  • 1 year later...

well, DRE is 4c these days. had a bit of a run in July from 2.5c peaking soon after at 6c for all of about 5 minutes.. Usual exuberance, reacting to news for the usual early days exploring outfit.

Tarraji-Yampi Ni-Cu-PGE & Au: geophysical and environmental surveys were undertaken. Ground based Fixed Loop EM Surveys identified three conductors at Orion Ni-Cu-PGE which are being drilled in July 2021. Also, diamond drilling at Texas Ni-Cu-PGE commenced and is ongoing with the initial hole intersecting sulphides within the Ruins Dolerite.

Subsequent to the end of quarter, RC drilling commenced at the Orion Ni-Cu-PGE, Fuso and Paul’s Find Cu-Au and Chianti-Rufina Cu-Pb-Zn-Ag targets and is expected to finish in July/August 2021. Ongoing target generation work confirmed high grade Cu-Ag-Bi-Sb at Rough Triangle.

 

Mangaroon Ni-Cu-PGE, REE & Au: First Quantum Minerals Limited (FQM) entered into an Option/JV agreement regarding the base metal rights over five tenements at Mangaroon. Work programs included: mapping and rock chip sampling over outcropping Ni-Cu-PGE mineralisation along the Money Intrusion (Ni-Cu-PGE); soil sampling over the Edmund and Minga Bar Faults (Au); and rock chip sampling and mapping of outcropping high grade Rare Earth Element ironstones.

Subsequent to 30 June 2021, a 1km long outcropping gossanous horizon was identified along the Money Intrusion and additional high grade REE outcrops were confirmed over 2.5km of strike.

 

Illaara Au-Cu-LCT-Iron Ore: A number of work programs were completed at Illaara during the quarter including:

• Regional soils survey to generate and define drill targets for gold, VMS base metals and Lithium Caesium Tantalum Pegmatites.

• RC Drilling at Metzke’s Corridor ... 24 holes for 3,513m of drilling at Metzke’s Find, Longmore’s Find, Black Oak, Bald Hill, and Little Dove.

• RC Drilling at Lawrence’s Corridor ... 45 holes for 3,864m of drilling at 14 lithostructural geochemical targets.

 

 

.... gee whizz. they are in the minerals game! Just add Gold to everything. Nickel, REE too, nor forgetting PGE. Oh, it is WA; hardly a place where this geology is uncommon.

 

 

 

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  • 11 months later...

it appears the REE play may , just may, have some traction. DRE had been trading around 4c for most of the year but has run to 6.5c in the last month and is now in a trading halt, looking to raise more, adding another 5% to the share base... The interesting bit is the offer may get away at 6c, which is a very small discount for the usual mining cap raise gig. (a 7.4 per cent discount to the last close, 1.4 per cent discount to the five day volume weighted average price and 0.8 per cent premium to the 10 day VWAP).

Dreadnought posted assay results from its first drill line at the Yin rare earth ironstone, which sits in its Mangaroon Project in the WA Gascoyne region. A JORC Resource is not expected until the December quarter, but some investors were said to view it as the most significant rare earths discovery since Lynas Rare Earths. [or so goes the scuttlebutt].

A term sheet sent to potential investors said the proceeds would support drilling and other activities at Mangaroon, but also sampling at its Kimberly projects (copper, silver, gold, cobalt, nickel and platinum group) and Central Yilgarn project (copper, gold, nickel, lithium and iron ore).

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