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Dreadnought Resources Ltd (ASX:DRE)

ALERT: Price-sensitive ASX Announcement for DRE
Current share price for DRE : $0.014 -0.012 (-46.15%)+
Announcement
Release
2 Mar 2026 8:53AM
Price at Release
$0.026
Full Release
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Summary
Kingfisher Mining Ltd announced the divestment of its Gascoyne REE Project to Dreadnought Resources Ltd, which includes 12 granted exploration licenses in Western Australia. The transaction involves an upfront payment of $2 million in Dreadnought shares, with additional milestone payments based on resource definitions. This strategic move allows Kingfisher to sharpen its focus on high-priority copper-gold, silver, lead, and zinc projects in New South Wales, thereby enhancing its financial position and resource allocation.
Key Points
  • Kingfisher Mining Ltd has agreed to sell its Gascoyne REE Project to Dreadnought Resources Ltd.
  • The sale involves 12 granted exploration licenses in Western Australia's Gascoyne region.
  • Kingfisher will receive $2 million in Dreadnought shares as upfront consideration.
  • Additional milestone payments up to $1.5 million are tied to resource definitions under JORC standards.
  • Kingfisher retains exposure to the rare earth sector through its shareholding in Dreadnought.
  • The transaction allows Kingfisher to focus on its NSW copper-gold, silver, lead, and zinc projects.
  • The divestment strengthens Kingfisher's financial position and reallocates resources to high-priority NSW projects.
  • The Copper Blow IOCG Project in NSW is a primary beneficiary of this strategic shift.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.