Dreadnought Resources (DRE) Q1 2027 TU earnings summary

Executive summary

• Star of Mangaroon advanced toward first gold production, while Metzke’s Find emerged as a second development opportunity and exploration expanded across Mangaroon and Illaara.

• Strategy combines near-term gold development with discovery work and critical-metal optionality, targeting a transition to a self-funded explorer.

Financial highlights

• Available funds were $11.6M in cash and term deposits at quarter end; exploration and study expenditure was $3.873M during the quarter.

• A $180k merit-based EIS co-funded grant was awarded for RC drilling at Nina, Mangaroon.

• Director remuneration was $114k classified as corporate and $77k as exploration in the quarterly cash flow disclosures.

Outlook and guidance

• Dec 2026 quarter work plan targets Star of Mangaroon approvals, mining commencement, production and processing through Paulsens; timing remains subject to approvals and access arrangements.

• Planned work includes RC drilling at defined Mangaroon targets, Metzke’s Find drilling and technical studies, Illaara aircore/RC drilling, and Yin and Stinger study and test work.

• Follow-up Illaara aircore drilling is underway at 25–50m spacing after first-pass drilling tested 10% of the greenstone belt; Mangaroon mapping and sampling will prioritise discovery targets.