Annual Report to Shareholders - 30 June 2024
Released
Released
Announcement PDF
ANNUAL
REPORT
ACN 119 031 864
CORPORATE
DIRECTORY
DIRECTORS
Paul Chapman
Dean Tuck
Philip Crutchfield
Robert Gee
SHARE REGISTRY
(Non-executive Chairman)
(Managing Director)
(Non-executive Director)
(Non-executive Director)
COMPANY SECRETARY
Jessamyn Lyons
REGISTERED OFFICE &
POSTAL ADDRESS
Level 3, 88 William Street
Perth WA 6000
PO Box 712
Osborne Park DC WA 6916
Telephone: +61 (8) 9473 8345
Website: www.dreadnoughtresources.com.au
ABN 40 119 031 864
Automic Pty Ltd
Level 5, 191 St Georges Terrace
Perth, WA 6000 Australia
hello@automicgroup.com.au
(within Australia): 1300 288 664
(international): +61 (2) 9698 5414
AUDITORS
PKF Perth
Level 8, 905 Hay Street
West Perth WA 6005
STOCK EXCHANGE
Australian Securities Exchange
(Home Exchange: Perth, Western Australia)
ASX Code: DRE
DREADNOUGHT RESOURCES (ASX:DRE) IS A HIGHLY
ACTIVE WEST AUSTRALIAN MINERAL EXPLORER FOCUSED ON
FINDING THE METALS NEEDED NOW AND IN THE FUTURE.
CONTENTS
CHAIRMAN’S LETTER
1
DIRECTORS’ REPORT
2
AUDITOR’S INDEPENDENCE DECLARATION
17
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND
OTHER COMPREHENSIVE INCOME
18
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
19
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
20
CONSOLIDATED STATEMENT OF CASH FLOWS
21
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
22
CONSOLIDATED ENTITY DISCLOSURE STATEMENT (CEDS)
45
DIRECTORS’ DECLARATION
46
INDEPENDENT AUDIT REPORT
47
ASX ADDITIONAL INFORMATION
52
1
Dreadnought Resources Ltd
Chairman’s Letter
Dear Fellow Shareholder,
We are pleased to present the 2024 Annual Report for Dreadnought Resources Limited.
The past year has been another active one and we have made substantial progress on multiple fronts including:
•
•
•
•
•
•
•
•
•
Extending the Gifford Creek Carbonatite to >17km long with high-grade zones of Nb and REE.
Drilling thick high-grade niobium at the Gifford Creek Carbonatite.
Intersecting massive & disseminated sulphides long the 40km long Money Intrusion at the Mangaroon Ni-Cu project.
Finalising an extensive and first-ever review over Mangaroon gold identifying multiple targets that are now starting to bear fruit.
Acquiring & consolidating the Bresnahan U-Au-Sb- Pb project (100%).
Identifying 16 camp scale lithium targets at Central Yilgarn and Mangaroon.
Delivering a large, independent JORC Code 2012 Mineral Resource (“Resource”) at the Yin REE Ironstone Complex of 29.98Mt
@ 1.04% TREO (87% Measured & Indicated).
Confirming that Yin can produce a high quality mixed rare earth carbonate, a major commercialisation milestone.
Embarking on a strategy to be a self-funded explorer by potentially outsourcing the funding, development, haulage and processing
of an open pit mine at Star of Mangaroon.
Notwithstanding these achievements, it was not all smooth sailing as our share price reflects. In particular, rare-earth markets cooled
considerably in the face of global economic uncertainty.
The question is how we regain the ground lost on our share price and we have adopted four key strategies as outlined below:
1.
Transform into a self-funded explorer: This involves a potential high-grade open pit at the Star of Mangaroon where we
outsource funding, development, haulage & processing to third parties. This is a common model in WA given the robust gold
price. Once successful, extend this model concept to Popeye, Two Peaks, Lead, Pritchard Well, etc. In this way, we reduce
reliance on market funding and generate our own cashflow aimed at making life changing discoveries.
2.
Progress Gifford Creek Carbonatite to a commercial assessment by undertaking low cost/high value add work:
We need to determine whether the Gifford Creek Carbonatite niobium has the potential to deliver an economic Resource/Ore
Reserve. Given infrastructure and mineralogy, preliminary work to date says this is possible. Once confirmed, we will have a
decision to make regarding sole risking or joint venturing.
3.
Discovery (100%): We have demonstrated ability in making discoveries. Our top 4 prospects across our 100% owned portfolio
each have the potential to be life changing and are summarised below:
• Mangaroon Camp Scale Au Prospect: 10km x 15km lithostructural setting with numerous historical gold workings and where
first pass modern exploration has defined dozens of new gold and base metal targets.
• Stinger Nb Prospect: a ~2.5km long zone of niobium mineralisation within the Gifford Creek Carbonatite with limited drilling
having already identified significant saprolite and fresh carbonatite mineralisation.
• Bordah Camp Scale Au Prospect: Similar lithostructural setting to the Star of Mangaroon Camp defined by stronger gold
and pathfinder in streams anomalism with no previous record of exploration or prospecting.
• High Range Camp Scale Au Prospect: >50km long highly prospective and unexplored lithostructural setting with some of
the strongest gold in stream sediment anomalies at Mangaroon.
4.
Commercialise our portfolio & make discoveries funded by third parties:
The status on this front is currently outlined below:
• Mangaroon REE/Critical Minerals (100%): contains a Resource of 40.82mt @ 1.03% TREO and is already global scale with
plenty of upside; we are minimising holding costs while maximizing preparedness for an upturn in REE markets.
• Mangaroon Ni-Cu (100%): has confirmed sulphide Ni-Cu in the 40km long Money Intrusion; joint venture discussions are
well advanced.
• Bresnahan U-HREE-Au-Sb-Pb (100%): uranium targets have been identified by global uranium companies; partial joint venture
discussions are well advanced.
• Tarraji-Yampi (75%/100%): confirmed sulphide Ni-Cu, strategic review underway.
• Central Yilgarn (100%): multiple, confirmed high-grade gold, iron-ore and base metals targets, partial joint venture
discussions are well advanced.
In relation to the critical minerals at Mangaroon, this remains a long-life, strategically important, potential Tier 1 project in one of the
world’s top investment jurisdictions being Western Australia (Investment Attractiveness Index published in the 2023 Fraser Institute’s
Annual Survey of Mining Companies).
In closing, we would like to thank our stakeholders including traditional owners, local communities, employees, joint venture partners,
suppliers and other business partners. We also would take this opportunity to thank our fellow shareholders for your ongoing support.
Paul Chapman
Chairman
Annual Report 2024
2
Directors’ Report
Your Directors present their report on the consolidated entity (referred to hereafter as the Group) consisting of Dreadnought
Resources Limited (referred to hereafter as the Parent Entity, Dreadnought or the Company) and the entities it controlled at the end
of, or during, the year ended 30 June 2024.
DIRECTORS
The following persons were Directors of the Company during the whole of the financial year and up to the date of this report, unless
otherwise stated:
Paul Chapman
(Non-executive Chairman)
Appointed 9 April 2019
Dean Tuck
(Managing Director)
Appointed 9 April 2019
Philip Crutchfield
(Non-executive Director)
Appointed 13 September 2022
Robert Gee
(Non-executive Director)
Appointed 2 March 2023
PRINCIPAL ACTIVITIES
The principal activities of the Group during the financial year were minerals exploration and development. There were no significant
changes in the nature of activities of the Group during the year.
DIVIDENDS
No dividends have been declared or paid during the year (2023: Nil).
OPERATING RESULTS AND FINANCIAL POSITION
The net result of operations for the financial year was a loss of $6,319,382 (2023: $5,521,985).
The net assets of the Group have increased by $1,196,113 during the financial year from $50,841,416 at 30 June 2023 to $52,037,529
at 30 June 2024.
3
Dreadnought Resources Ltd
Directors’ Report
continued
REVIEW OF OPERATIONS
The Group is an ASX-listed exploration and development company focussing on acquiring and exploring high-quality projects within
the state of Western Australia. The Company’s strategy is to discover major deposits on these projects either by itself or in joint
venture with major mining companies. The review addresses highlights and significant changes in state of affairs during the year and
to date.
Operational Highlights to 30 June 2024:
MANGAROON
Nb-REE (100%)
• Mangaroon REE is a globally significant critical minerals complex with a combined Resource at Yin and the Gifford Creek
Carbonatite of 40.82Mt @ 1.03% TREO.
• ANSTO, a word-leading expert in processing critical and strategic metals, has successfully produced a high quality mixed rare
earth carbonate from Yin concentrate. This is a milestone achievement in commercialisation for Yin and in progressing
discussions with rare earth refiners.
• The Nb-REE Gifford Creek Carbonatite has produced some of WA’s best niobium intercepts outside the Arunta Province
and with strong niobium identified across multiple zones, we see the potential for Mangaroon to evolve as multi-commodity
critical metals hub, within proximity to existing infrastructure.
• The Company is focussed on extending known pyrochlore Nb mineralisation and to discover additional deposits.
• Assay results from 4 holes of our 19 RC hole drilling program have already confirmed thick high-grade niobium intercepts.
Au (100%)
• Mangaroon is host to high-grade gold mineralisation at the Bangemall/Cobra and Star of Mangaroon gold mining centres which
have seen minimal modern exploration.
• We have identified a ~15km x 10km zone with strong gold-in-stream sediments and pathfinder (Ag-As-Bi-Mo-Sb-Te-W)
anomalism and subsequent to 30 June 2024 acquired a strategic land holding to further consolidate this region.
• An internal study on a conceptual open pit at Star of Mangaroon has underpinned commercialisation of these high-grade gold
targets. The Company plans to become a self-funded explorer and by adopting a model whereby funding, development, haulage
and processing are outsourced to third parties to generate cashflow to support life changing discoveries.
• The Company has confirmed visual sulphides at Tiger and down hole geophysics has identified potential massive sulphides in
off-hole conductors.
Ni-Cu-PGE (100%)
• Mangaroon hosts the fertile Ni-Cu-Co-PGE along the >45km long Money Intrusion.
• An IP survey has confirmed the geophysical signatures of a significant new mineralised system.
• Joint venture discussions are well advanced.
TARRAJI-YAMPI
Cu-Ag-Au-Co (80%/100%)
• Tarraji-Yampi is located entirely within the Yampi Sound Training Area, a Commonwealth Defence Reserve in the West
Kimberley, ~80kms from the port of Derby.
• Dreadnought was awarded a co-funded grant under the WA Governments’ merit-based Exploration Incentive Scheme for an
induced polarization geophysical survey at Tarraji aiming to highlight additional Grant’s Find like CI-Au epithermal targets.
• Four strong off-hole conductors were identified during the first phase of recent drilling. Two Orion offset targets and off-hole
conductors (OR1 and OR2) are priority targets for follow up drilling.
CENTRAL YILGARN
Gold, Base Metals, Critical Minerals, and Iron Ore Project (100%)
• Central Yilgarn covers four greenstone belts within the highly prolific Yilgarn Craton of Western Australia with significant
gold, copper, nickel, lithium and iron ore potential.
• A 13-hole RC program was completed to test 4 compelling gold targets at Viper, Leghorn, Chicken Little and Honey and
anomalous gold mineralisation was intersected in all targets. Drilling at Chicken Little was particularly encouraging intersecting
shallow, high-grade gold and silver.
BRESNAHAN
REE-HREE-Au-Sb-Pb (100%) Project (100%)
Bresnahan is a conceptual unconformity heavy rare earth element (“HREE”) project containing >3,700kms2 of prospective ground.
and assays from reconnaissance surface sampling have confirmed unconformity HREE mineralisation, similar to the Browns Range
project. Partial joint venture discussions are well advanced.
Annual Report 2024
4
Directors’ Report
continued
Corporate Highlights to 30 June 2024:
In relation to share placements, the following activities occurred:
•
In October 2023, the Company completed a placement at $0.047 per share to institutional and sophisticated investors raising
$3,960,000 (before costs). On 9 October 2023, the Company issued 84,255,319 shares relating to the placement.
The placement conditions were also extended to eligible shareholders under a Share Purchase Plan raising $628,000 (before
costs) and on 30 October 2023, 13,361,764 shares were issued to shareholders who participated in this plan.
In addition, the directors contributed a further $1,040,000 to the placement, which was approved by shareholders at the
annual general meeting held on 23 November 2023. On 22 December 2023, 22,127,660 shares were accordingly issued to
the directors.
•
•
In relation to options, the following activities occurred:
i.
Options issued to other parties:
• On 9 October 2023 the Company issued 6,000,000 options to Shaw and Partners and their nominees for their role as
Lead Manager in the October 2023 placement. The options have an exercise price of $0.094 and expire on 9 October
2025.
ii. Options exercised by employees or directors:
• On 9 April 2024, the Managing Director exercised 31,500,000 options for a total amount of $157,500.
In relation to performance rights, the following activities occurred:
Performance rights issued to employees or directors:
i.
Performance Rights vesting and exercised:
• On 5 July 2023, the vesting condition for Class B was achieved and 2,566,667 Performance Rights for directors and
11,983,334 Performance Rights for employees vested.
• On 1 August 2023, the Company issued 2,566,667 fully paid ordinary shares and 11,983,334 fully paid ordinary shares to
the directors and employees, respectively upon exercising the vested rights.
• On 28 August 2023, the vesting condition for Class C was achieved and 2,566,667 Performance Rights for directors and
11,983,329 Performance Rights for employees vested.
• On 4 September 2023, the Company issued 2,566,667 fully paid ordinary shares and 11,983,329 fully paid ordinary shares
to the directors and employees, respectively upon exercising the vested rights.
ii. Performance rights granted:
• On 4 December 2023, the Company issued 3,600,000 Performance Rights to a director and 13,900,000 to employees.
• These were divided into four equal tranches subject to the following vesting conditions:
- Class D: The Company’s Volume Weighted Average Market Price over a period of 20 consecutive Trading Days (20day VWAP) being at least $0.10.
- Class E: The 20-day VWAP being at least $0.15.
- Class F: Completion of 12 months continued service from the date of issue of the Performance Rights.
- Class G: Completion of 24 months continued service from the date of issue of the Performance Rights.
The Company made the following acquisitions during the year:
•
On 4 October 2023, the Company announced that it had executed a tenement sale and purchase agreement with an unrelated
party to acquire a 100% interest in exploration tenement E52/3412 and E52/3462. The key commercial terms included
$100,000 in cash, 2,500,000 fully paid ordinary shares at completion and a 1.0% gross royalty. The shares were issued on 13
February 2024.
FUTURE DEVELOPMENTS, PROSPECTS AND BUSINESS STRATEGY
The Group is focused on delivering significant shareholder returns through the discovery of economic mineral deposits in the Tier 1
jurisdiction of Western Australia. The Group will achieve these goals by:
Transforming into a self-funded explorer;
Progressing the Gifford Creek Carbonatite to a commercial assessment by undertaking low cost/high value add work:
Making life changing discoveries on 100% owned ground; and
Commercialising our portfolio & making life changing discoveries funded by third parties.
5
Dreadnought Resources Ltd
Directors’ Report
continued
MATTERS SUBSEQUENT TO THE END OF THE FINANCIAL YEAR
Subsequent to 30 June 2024, the following significant events were undertaken by the Group:
•
•
•
•
On 25 July 2024, the Company announced the issue of 6,927,040 shares to Topdrill Pty Ltd under a drill for equity arrangement
for drilling services performed at the Tarraji Yampi Project in June / July 2024.
On 26 July 2024, the Company announced a strategic acquisition of ~300km2 of highly prospective and strategic ground along
the Mangaroon Shear Zone from Redscope Enterprises Pty Ltd. The key commercial terms included $50,000 in cash, 16,00,000
fully paid ordinary shares and a 1.0% gross royalty to complete the acquisition. The shares were issued on 26 July 2024 and
were subject to voluntary escrow conditions.
On 26 Jully 2024, the Company announced a gold commercialisation strategy for Mangaroon as part of its strategy to transform
into a self funded explorer.
On 5 August 2024, the Company announced a $3,500,000 (before costs) capital raise and a further $210,000 for director
participation subject to shareholder approval.
Other than the events detailed above, there has not arisen in the interval between 1 July 2024 and the date of this report any item,
transaction, or event of a material and unusual nature likely, in the opinion of the directors, to significantly affect the operations of
the consolidated entity, the results of those operations, or the state of affairs of the consolidated entity, in future years.
ENVIRONMENTAL REGULATION
The Group’s Environmental Management System includes identifying and assessing environmental impacts, setting environmental
objectives and targets, and implementing strategies to reduce the impact on the environment.
The operations of the Group are subject to environmental regulations under both Commonwealth and State legislation in Australia.
In the mining industry, many activities are regulated by environmental laws. Operations are conducted under the necessary
Commonwealth and State Licences and Works Approvals. The Group considers it has complied with all relevant environmental
obligations.
SOCIAL RESPONSIBILITY
The Group strives to contribute to the social and economic wellbeing of the communities in which it operates by identifying
opportunities that create shared value and economic benefit with our local communities including, where possible, maximising local
procurement, employment, and training opportunities. We place as much emphasis on our behaviour as we do on our results. We
provide a healthy, safe, and inclusive workplace through collective leadership.
The status of the Group’s cultural and gender is shown in the tables below.
Cultural Diversity
2024
2023
Australian
International*
Australian
International*
Key Management Personnel
4
3
3
3
Other senior management
4
1
3
Other employees
5
2
6
4
Total
9
9
10
10
Overall %
50%
50%
50%
50%
* International refers to an individual’s background rather than citizenship and includes United States, Africa, United Kingdom, New
Zealand, South America, Europe, and Philippines.
Category
Gender Diversity
Category
Key Management Personnel
Other senior management
Other employees
Total
Overall %
2024
Male
5
2
4
11
61%
2023
Female
2
2
3
7
39%
Male
4
2
7
13
65%
Female
2
2
3
7
35%
COMPLIANCE STATEMENT
This report contains information extracted from reports available to view on the website www.dreadnoughtresources.com.au. In
relying on the below ASX announcements and pursuant to ASX Listing Rule 5.23.2, the Company confirms that it is not aware of any
new information or data that materially affects the information included in the abovementioned announcements or this Annual Report
for the period ended 30 June 2024.
Annual Report 2024
Directors’ Report
continued
ASX Listing Rules Compliance
In preparing the Annual Report for the period ended 30 June 2024, the Company has relied on the following ASX announcements.
ASX Announcement
02/09/2024
Drill Results & 5 Off-Hole Conductors at Tiger
ASX Announcement
28/08/2024
Australian Gold Conference Presentation
ASX Announcement
19/08/2024
Thick High-Grade Niobium Intercepts
ASX Announcement
15/08/2024
Visual Sulphides in Tiger Ci-Au-Zn-Ag Drilling – Mangaroon Gold
ASX Announcement
13/08/2024
Gifford Creek Niobium Drilling Update - Amendment
ASX Announcement
12/08/2024
Application for quotation of securities – DRE and Cleansing Notice
ASX Announcement
12/08/2024
Notification of cessation of securities – DRE
ASX Announcement
12/08/2024
Gifford Creek Niobium Drilling Update
ASX Announcement
09/08/2024
Application for quotation of securities – DRE and Cleansing Notice
ASX Announcement
05/08/2024
Proposed issue of securities – DRE (x 2)
ASX Announcement
05/08/2024
$3.71m Placement to Advance Niobium and Gold Exploration
ASX Announcement
01/08/2024
Trading Halt
ASX Announcement
31/07/2024
Quarterly Cashflow Report and Quarterly activities Report – June 2024
ASX Announcement
26/07/2024
Application for quotation of securities – DRE and Cleansing Notice
ASX Announcement
26/07/2024
Proposed issue of securities – DRE
ASX Announcement
26/07/2024
Consolidation, Growth & Commercialisation – Mangaroon Gold
ASX Announcement
26/07/2024
Strategic & Prospective Consolidation – Mangaroon AU
ASX Announcement
25/07/2024
Application for quotation of securities – DRE
ASX Announcement
22/07/2024
Drilling Commenced – Gifford Creek Nb-REE Carbonatite
ASX Announcement
18/07/2024
Four Strong Off-Hole Conductors identified – Tarraji-Yampi
ASX Announcement
16/07/2024
Junior Minerals Exploration Incentive
ASX Announcement
03/07/2024
Change of Director’s Interest Notice – Dean Tuck
ASX Announcement
03/07/2024
Notification of cessation of securities – DRE
ASX Announcement
19/06/2024
Drilling Extended for Nb-REE and Cu-Au Targets
ASX Announcement
18/06/2024
Tiger Cu-Au, An-Ag Gossan Confirmed Over ~500m – Mangaroon
ASX Announcement
17/06/2024
Cu-Au Drilling Commenced at Tarraji-Yampi
ASX Announcement
14/06/2024
Notification of cessation of securities – DRE
ASX Announcement
06/06/2024
Gifford Creek REE-Nb Carbonatite Update – Mangaroon
ASX Announcement
04/06/2024
Proposed issue of securities – DRE
ASX Announcement
04/06/2024
Cu-Au Drilling to Commence at Tarraji-Yampi
ASX Announcement
27/05/2024
High-Grade Cu-Zn-Ag-Au Gossans at Tiger – Mangaroon
ASX Announcement
24/05/2024
Investor Webinar Presentation
ASX Announcement
23/05/2024
Shallow, High-Grade Gold and Silver at Chicken Little
ASX Announcement
20/05/2024
Outcropping Cu-Zn-Ag-Au Gossans at Tiger
ASX Announcement
06/05/2024
High Quality, Mixed Rare Earth Carbonate Produced from Yin
ASX Announcement
01/05/2024
$300,000 EIS Drilling and Geophysical Grants
ASX Announcement
30/04/2024
Quarterly Cashflow Report and Quarterly activities Report – March 2024
ASX Announcement
29/04/2024
Drilling of 4 Compelling Targets Completed – Central Yilgarn
ASX Announcement
12/04/2024
Change of Director’s Interest Notice x 3
ASX Announcement
09/04/2024
Exercise of Options and Investment by Directors
ASX Announcement
09/04/2024
Application for quotation of securities – DRE
ASX Announcement
05/04/2024
Drilling 4 Compelling Targets Commenced
ASX Announcement
27/03/2024
Drilling and Geophysical Results from Tarraji-Yampi
ASX Announcement
13/03/2024
Star of Mangaroon Camp Scale Gold Prospect Expands
ASX Announcement
12/03/2024
Mangaroon Ni-Cu-Co-PGE Reverts to 100%
ASX Announcement
07/03/2024
Significant Untested Uranium Targets – Bresnahan
ASX Announcement
01/03/2024
S&P DJI Announces March 2024 Quarterly Rebalance
ASX Announcement
28/02/2024
Half Yearly Report and Accounts – 31 December 2023
ASX Announcement
13/02/2024
Application for quotation of securities – DRE and Cleansing Notice
ASX Announcement
13/02/2024
RIU Explorers Conference Presentation
ASX Announcement
13/02/2024
$2.1M R&D Tax Incentive Underscores Mangaroon Rare Earths
ASX Announcement
12/02/2024
Star of Mangaroon Camp Scale Gold Prospect Expands
ASX Announcement
08/02/2024
Seven Camp Scale Gold Prospects at Central Yilgarn
ASX Announcement
31/01/2024
Quarterly Cashflow Report and Quarterly activities Report – December 2023
ASX Announcement
22/01/2024
Star of Mangaroon Extended
ASX Announcement
22/12/2023
Change of Director’s Interest Notice x 2
ASX Announcement
11/12/2023
Thick, High-Grade Gold Including 7m @ 23.0g/t AU – Mangaroon
ASX Announcement
06/12/2023
Change of Director’s Interest Notic – Dean Tuck
ASX Announcement
06/12/2023
Gifford Creek REE-Nb-P-Ti-Sc Carbonatite Drilling Update
ASX Announcement
05/12/2023
Notification regarding unquoted securities – DRE
ASX Announcement
30/11/2023
Large, High Confidence Yin Ironstone Resource - Mangaroon
6
7
Dreadnought Resources Ltd
Directors’ Report
continued
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29/11/2023
23/11/2023
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08/11/2023
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01/11/2023
31/10/2023
30/10/2023
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06/07/2023
05/07/2023
03/07/2023
Trading Halt
AGM Presentation
Chair’s Address to Shareholders
16 Camp Scale Lithium Targets at Central Yilgarn & Mangaroon
Further Ni-Cu-Co-3PGE Assay & Drilling to Recommence
Launch of Interactive Investor Hub
Gold Drilling Commenced at Star of Mangaroon
Quarterly Cashflow Report and Quarterly activities Report – September 2023
Application for quotation of securities – DRE
$180,000 Drilling Grant for Mangaroon REEs- Amendment
Significant HREE, Gold and Uranium Potential – Bresnahan
$180,000 Drilling Grant for Mangaroon REEs
Notice of Annual General Meeting/Proxy Form
Drilling and Geophysical Surveys Completed at Tarraji-Yampi
100m Thick Rare Earth Intercepts from Yin – Mangaroon
Notification regarding unquoted securities – DRE
Share Purchase Plan Offer Document and Cleansing Notice
Proposed issue of securities – DRE
Bresnahan (100%) Acquisition & Consolidation
Mangaroon Carbonatite Now over 17km with Hither Grade Zones
Webinar invitation to Shareholders
Proposed issue of securities – DRE (x 3)
Placement & Share Purchase Plan
Trading Halt
Cu-Ag-Au-Cp Discovery Drilling Commenced at Tarraji-Yampi
High Grade Ni-Cu-Co-PGE Massive Sulphides Confirmed
Appendix 4G and 2023 Corporate Governance Statement
Annual Report to Shareholders
Highest Grades to date from Yin Infill Drilling – Mangaroon
Thick Ni-Cu Mineralisation over 400m- Amendment
New World Metals Corporate Presentation
Thick Ni-Cu Mineralisation over 400m, Open in All Directions
Change of Director's Interests Notice x 4
Application for quotation of securities – DRE and Cleansing Notice
Outstanding Gold Potential Along 10km Mangaroon Shear Zone
Massive & Disseminated Ni-Cu Sulphides Intersected
Trading Halt
Drilling Commenced at Money Intrusion Ni-Cu-PGE – Mangaroon
Initial, Independent REE-Nb-P-Ti-Sc Resource at C3
Application for quotation of securities – DRE and Cleansing Notice
Thick, High-Grade Rare Earths Continue at Yin – Mangaroon
Diggers and Dealers Conference Presentation
Rare Earth Ironstone and Carbonatite Drilling Update
Change of Director Interests x 4
Application for quotation of securities - DRE and Cleansing Notic
Quarterly Cashflow Report and Quarterly activities Report – June 2023
Noosa Mining Conference – Investor Presentation
High-Grade Rare earth & Niobium Zones at C3 & C5 – Mangaroon
Notification regarding unquoted securities - DRE
High-Grade Rare Earth & Niobium Zones at C3 & C5 – Mangaroon
Successful Junior Minerals Exploration Incentive Application
40% Increase in Resource Tonnage at Yin – Mangaroon
Trading Halt
Annual Report 2024
8
Directors’ Report
continued
INFORMATION ON DIRECTORS
Directors have been in office for the entire period unless otherwise stated.
Paul Chapman
Experience and Expertise
B.Comm, CA, Grad. Dip. Tax, MAICD, MAusIMM (Independent Non-Executive Chairman),
Appointed 9 April 2019
Mr Chapman is a company director with over 30 years in the resource sector. Mr Chapman
has held senior management roles across a range of commodity businesses and public
companies in Australia and the USA. Mr Chapman was a founding director and shareholder
of Reliance Mining, Encounter Resources, Rex Minerals, Silver Lake Resources, Black Cat
Syndicate and Dreadnought Resources.
Interests in shares, performance
rights and options
325,039,148 shares
Other current directorships
Mr Chapman is the non-executive chairman of Meeka Metals Limited (ASX:MEK) (since May
2022).
Mr Chapman is a non-executive director of Sunshine Metals Limited (ASX:SHN) (since
November 2020).
Mr Chapman is a non-executive chairman of Black Cat Syndicate Limited (ASX:BC8) (since
August 2017).
Former directorships in the last 3
years
Encounter Resources Limited
Dean Tuck
Experience and Expertise
B.Sc (Hons), FGAA, MAIG (Managing Director), Appointed 9 April 2019
Mr Tuck is an experienced geologist and exploration manager h
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