Dundas Minerals (ASX: DUN) – the Esperance Project
ABOUT COMPANY
Dundas Minerals (DUN) (https://dundasminerals.com/) explores gold and base metals in Western Australia. Its flagship is the Dundas Gold and Base Metals Project in Esperance.
The company was listed in November 2021 by raising $6m@20c. The existing 30m shares value the tenements for $6m. It also issued 30c listed loyalty option in February 2022.
CAPITAL STRUCTURE
| ASX Code | Share Price | Shares | Option (In) | Market Cap | Cash/Asset ($m) |
| DUN | 0.03 | 84628046 | 2538841.38 | 1/(1) |
| Holders No | Top 20 (Cur) | Top 20 (Pre) | Director Hold | Performance Right | Note |
| 1004 | 60.88% | 54.68% | 30.10% | last raise $1.6m@40c |
FLAGSHIP ASSETS
Dundas Gold and Base Metals Project Esperance WA (1,201 km2)
Project Data
The project area is predominantly overlain by tertiary to recent sand, calcrete and immature sedimentary rocks (including lignite) that varies in thickness from 5-30m. It is a complete greenfield project.
In October 2022, the company announced 358m of massive, semi-massive and disseminated sulphides on its first hole, but all by “visual” observation without grade support.
SUMMARY
All companies in the region such as MRD, EMT, OD6, switched to search for REE.