DGR Global (ASX: DGR) is a resource project generator and investment company focused on creating exploration and development companies in a wide array of commodities, including copper, gold, nickel, molybdenum, iron ore and uranium.
DGR Global’s strategic focus is on securing provincial tenure positions that are prospective for commodities which attract globally exposed capital funds. Each project or exploration strategy is initially held as a separate subsidiary of the parent company.
DGR Global (ASX: DGR) is continuing with the strategic company focus to build a resource factory, with the launch of new subsidiary Pinnacle Gold, the eighth company in DGR’s pipeline.
This comes just one day after former wholly owned subsidiary Armour Energy (ASX: AJQ) listed on the ASX.
Pinnacle lodged eight Exploration Licence Applications covering more than 2,400 square kilometres in a potential gold and silver province in New South Wales, with seven of these now granted.
The company’s ground position is located in an underexplored region which has similarities to discoveries by former DGR subsidiaries.
These include Solomon Gold’s (AIM: SOLG) Rannes Project in Queensland, which hosts an Inferred Resource of486,935 ounces of gold and more than 13 million ounces of silver, and Navaho Gold’s (ASX: NVG) North Bowen Project Area.
Initial field work has already commenced on the first of the granted tenements. Early exploration on Pinnacle’s tenements will focus on a 50 kilometre long structure which is dotted with historical gold workings and a 28 kilometre long parallel structure to the west.
Importantly, records from exploration in the area in the 19th century indicate high grades of visible gold in near surface work on a number of reefs. No previous drilling has been identified on these structures.
Armour Energy listing
Armour Energy hit the boards of the ASX at 11am AEST on Thursday April 26 after closing one of the largest petroleum initial public offerings in recent years.
The company secured the full A$75 million that it was seeking for its initial shale gas exploration in the McArthur Basin.
Armour is jumping straight into its stated aim of proving the potential for large scale gas and associated liquids resources in its extensive 126,000 square kilometre portfolio in the McArthur, South Nicholson and Georgina Basins of the Northern Territory and Queensland.
The company has already secured a rig to drill up to 9 vertical wells and 3 lateral wells in EP 171 and EP 176 in the McArthur Basin during the next 2 years with the first well expected to spud on 1 May 2012.
This initial work also includes the completion of 2 multi stage fracture stimulation programs.
Separately, Amour is funding the drilling of 2 exploration wells to a total of A$4.25 million by the end of 2012 in PEP 166, Gippsland Basin and the option to spend a further A$4.75 million to drill and frac a third well to earn a 51% interest in the permit under a farm-in deal with Lakes Oil.
DGR has a history of finding and developing large projects and new provinces, and has spun off a number of subsidiaries into standalone companies.
The company has retained interests in its former subsidiaries, including 25% of Armour Energy, 29% of Navaho Gold and 10.6% of Solomon Gold as well as 30.6% in Mt Isa Metals (ASX: MET) and 41% in AusNiCo (ASX: ANW).
In addition, DGR is progressing the corporate development of Archer Resources, with a focus on copper gold silver porphyry systems, and IronRidge Resources. Capital raisings and stock exchange listings are planned for these companies in 2012.
DGR is targeting a pipeline of 20 listed assets within the next five years.
Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.