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Dreadnought Resources Limited ( (AU:DRE) ) has provided an announcement.
Dreadnought Resources Limited has announced a scoping study for the Star of Mangaroon project, indicating a promising initial open pit gold production target of approximately 20,000 ounces at a grade of 10g/t Au. With robust financial projections, including an operating cash flow of $40.1 million at a gold price of $4,100/oz, the project aims to commence in 2025 following further approvals and contractor engagement. The company is exploring outsourcing options for funding and development, which would enable it to become a self-funded explorer, leveraging cash flow for future exploration. The project’s development could substantially impact Dreadnought’s market position and provide significant benefits for shareholders.
More about Dreadnought Resources Limited
Dreadnought Resources Limited operates in the mining industry, focusing on the exploration and development of gold projects. The company’s primary product is gold, and it is actively pursuing opportunities in Western Australia with a particular focus on the Mangaroon Gold Project.
YTD Price Performance: -8.33%
Average Trading Volume: 3,275,462
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$41.45M
See more insights into DRE stock on TipRanks’ Stock Analysis page.
