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- Dreadnought Resources (ASX:DRE) completes a share purchase plan that kicked off in September
- Eligible shareholders were offered a further $30,000 worth of shares in DRE
- The company raised $3.96 million from investors and a further $1.04 million from its own directors
- That second $1.04 million payment must be approved by shareholders
- Shares last traded at 3 cents
Dreadnought Resources (ASX:DRE) has confirmed its directors have now collectively invested $6.2 million into the company.
The data further signals that Dreadnought’s own C-suite have skin in the game – typically approved of by investors.
The general idea, for the uninitiated, is that a company run by people who stand to lose wealth is more likely to be run with discipline.
Wide portfolio
Dreadnought is a true poly-metals explorer.
The company is a gold and copper explorer, it’s a rare earths explorer, and just last week it also highlighted its uranium exposure.
Dreadnought made clear at Diggers & Dealers 2023 that its plans are to develop projects into attractive assets, and then sell them on.
In short, the company is targeting growth opportunities.
Rare earths focus
For much of 2023, the explorer was heavily focused on rare earth elements (REEs).
Its WA-based Mangaroon project in the Gascoyne boasts five large carbonatite targets expected to contain commercial quantities of rare earths.
At Mangaroon, the REE target was boosted threefold.
That project receives its name from a geological formation in the Gascoyne some two billion years in age.
REEs, effectively synonymous with critical minerals, are increasingly on the radars of national governments with a view towards domestic supply chains and security thereof.
To that end, the company most recently secured another WA Government cash injection to continue REE mining development.
DRE shares last traded at 3 cents.
