Join our daily newsletter At The Bell to receive exclusive market insights
- Dreadnought Resources (ASX:DRE) delivers drilling programs at its Mangaroon and Tarraji-Yampi projects in the December 2023 quarter
- The company delivered a JORC resource for the Yin rare earth ironstones
- The combined resources at Mangaroon stand at 40.82 Mt at 1.03 per cent TREO
- At the end of the quarter, the company held a cash balance of $2.8 million
- Shares last traded at 2.1 cents
Dreadnought Resources (ASX:DRE) has reported the delivery of drilling programs at its Mangaroon and Tarraji-Yampi projects in the December 2023 quarter.
The company also delivered a JORC resource for the Yin rare earth ironstones, resulting in a combined measured, indicated and inferred resources at Mangroon of 40.82 million tonnes (Mt) at 1.03 per cent total rare earth oxides (TREO).
Dreadnought highlighted that with resource activities wrapped up at Mangaroon REE, the primary focus has become on gold at Mangaroon and Central Yilgarn, while also prioritising copper, gold and cobalt at Tarraji-Yampi. This is in addition to the company’s joint venture with First Quantum Minerals along the Money Intrusion.
Dreadnought Resources continues to position itself as a key player in Western Australia’s mining landscape, with diverse projects and promising exploration results.
At the end of the quarter, the company held a cash balance of $2.8 million, which excludes funds from an R&D incentive ($2.1 million) and an earn-in/JV partner ($500,000).
DRE last traded at 2.1 cents.
