Proactive’s Tylah Tully breaks down Just the Facts of the latest news from Dynamic Metals Ltd (ASX:DYM).
The company progressed its flagship exploration projects during the September quarter, focusing on the Widgiemooltha and Lindsays projects in Western Australia.
The company ended the quarter with A$5.3 million in cash, ensuring continued funding for its gold and lithium exploration efforts.
At Widgiemooltha, Dynamic finalised a lithium-focused joint venture with Mineral Resources Ltd (ASX:MIN), retaining a 60% interest while MinRes holds 40%, with the option to increase its stake to 80% by sole funding A$15 million in exploration over the next four years.
Dynamic is free to explore the project’s gold potential, with two key targets identified at Cognac West and Chalice South. Soil sampling at Cognac West returned promising results, with assays reaching 2.1g/t gold, and drilling is scheduled for early 2025.
At Lindsays, Dynamic identified 36 gold and 22 lithium targets, with fieldwork planned for …