From the Chairman

Insight September 30, 2022

The past year has been another active year for Dreadnought and we have made substantial progress on multiple fronts.

Many view Dreadnought as an overnight success story. The reality is that it has taken about 3,000 nights to get to where we are today. Over those 3,000 nights, we have stuck to a number of basic philosophies:

  • put your money where your mouth is
  • drive significant equity returns
  • dominate an area and ensure that our projects are something that others may want to own someday
  • generate a relentless and real news flow – explorers that do well are active and convey regular and meaningful information to investors
  • put your foot on good projects and the funding will come
  • find metal and do not be dissuaded by those that say you should be focused on a particular metal or project
  • manage risk and create option value for shareholders
  • engage good people and remunerate them fairly with plenty of upside to equity success

None of this is rocket science. It’s just a matter of applying the rigour and discipline to keep going when the wind may be blowing against you.

I always like to remember our milestones, including:

To dominate around Tarraji-Yampi, Mangaroon and Central Yilgarn, we have completed 2 joint ventures, 14 acquisitions and 1 divestment.

Since gaining our ASX listing in 2019, we have raised $32.4 million in equity via 11 different raisings and converted those funds into a market capitalisation of ~$350 million. We have also issued 229 market sensitive announcements at a consistent rate of 1.2 per week from listing.

In the year ahead we will continue at a relentless pace. While success breeds its own set of challenges, I can assure shareholders we have a team that is up to the task.

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.

If you would like to read the 2022 Annual Report, click here.

– Paul Chapman, Non-Executive Chairman