Alrighty. Welcome, everyone. It's 10:02, and it seems like there are quite a few people in the room already, and a few more will join, I'm sure. We'll get this thing started. Firstly, thanks to everyone for tuning in. I'm Dean Tuck, Managing Director of Dreadnought Resources. I'm out here on site at Mangaroon. It's not a fake background, you know, there's a few things going on around me. I'm looking forward to giving everyone an update, and we've had quite a few questions and polls things come through, and I've prepared for quite a few of those. At the end of the webinar, we'll go through a lot of those questions I've prepared answers for, and of course, take any additional questions as they come through. We will get this thing started. Straight into it, we'll get an update on Mangaroon Gold.
That is certainly the main focus of everyone's attention and what we're up to at the moment, and why I'm currently on site covered in flies sitting in the wind. Mangaroon, I said, as we as we're most of everyone who has joined the webinar and created pre-polling suggested that they were very familiar, somewhat familiar with the company. I'll try to glance over some of the overarching things. The Mangaroon project, it's a large greenfield project up in the Gascoyne region, about 330 km from Paulsens gold operation, where we're looking at treating the Star of Mangaroon corridor. It's a very underexplored belt.
We've got a lot of major geological structures identified with minimal modern exploration, lock-up drill targets ready to go, and a lot of the capital raise that we recently did will allow us to bring forward a lot of that exploration, which we're very excited about. Getting to the Star of Mangaroon, it's a historical producer in the region. We put out a maiden resource. In July last year, we put out our gold strategy for Mangaroon, commenced that drilling to undertake the resource. At the end of last year, we put out our initial resource on the Star of Mangaroon. We say initial because it was the first, we called it sort of a minimal viable product.
If everyone remembers, you know, end of last year, it's been two years of a pretty rough market for Dreadnought and junior explorers in particular, and it was a very tight capital market. In July, when we announced our self-funding explorer strategy, it was about producing a minimal viable product at the Star of Mangaroon. What is a small open-cut opportunity that had enough that we could put together a scoping study to prove economics, get into production, and start creating cash flow to fund exploration with and also return money to shareholders. That was really the reality of our position last year as we were coming into this year. We delivered that initial resource in November, got the scoping study out in February. The gold price has significantly run.
When we put out that scoping study, gold was $4,100 and the maximum up to $4,600, and now it's up to $5,000, $5,100, which means at current prices, it's actually closer to $60 million in free cash flow. That's about 10-12 months of production, max drawdown, AISIC, and everything else. Black Cat Syndicate has now invested $2 million into Dreadnought and entered into an agreement to secure the first right to negotiate the gold development for the Star of Mangaroon to be processed and delivered to Paulsens. It is quite an exciting opportunity for us. It was, like I said, it was an initial resource. We're up here at the moment, drill re-expanding to add ounces to the Star of Mangaroon and also on our other granted mining leases to grow that resource base, extend operations, increase cash flow. When we—oops, sorry, I'm actually on the same.
There we go. Look at the Star of Mangaroon. We've had a lot of limited exploration in the 1980s, 1990s, a lot of shallow drilling produced high grades. Drilling done by Dreadnought confirmed the thickness and grade of a lot of those using photon assays and new techniques as well, which is good for the free gold nature of the Star of Mangaroon. First pass drilling that we did at the end of last year at Popeye had a highlight of 3 meters of 22.8 grams per ton from 13 meters down. We see a lot of potential to grow this resource, add to the mine plan, and improve the financials.
Our main focus very early on in this program that we're doing now is adding shallow ounces, extending the Star of Mangaroon on Popeye, and then also go to Two Peaks, Pritchards, and Red Gold Mine to increase, to identify ounces there and add that to the production profile on our granted mining leases. When we look at the Star of Mangaroon and what we're looking at drilling straight away, the image, the long section on the right, you'll see the polygon that's sitting there. That's the resource that we put out at the end of last year. That's the same resource polygon that was for which the scoping study was based upon.
What we have here in the callouts, such as MA43, SM5, MA23, 1 at 53, 3 at 12, 2 at 30, these are all intercepts from historical drilling that are outside the current resource and also therefore outside the study. These are shallow high-grade ounces. This is where the rig is set up, and we'll be commencing drilling, or I think it's just stop saying that, where the rig has commenced drilling, adding those, looking to add those shallow high-grade ounces inside the pit at Star of Mangaroon that's currently outside the resource. That'll have quite profound impacts on the economics and also the free cash flow that comes from the Star of Mangaroon pit itself. Moving 500 meters south, the second area that we'll be drilling down at Popeye, we hit that three meters of 22 from the first drill holes ever put into that area.
This was a shaft that was sunk to provide mine water for the Star of Mangaroon a few decades ago. When they sank that shaft, went down a vein that was carrying high-grade gold. We put the first drill hole into that, three at 22. We have a bunch of drill holes going in out here, looking to extend that mineralization, confirm the orientation of that. If we can actually get a second pit on the same mining lease, or a second pit anywhere on these mining leases, that will have quite profound impacts on the economics, the studies, allowing us to better utilize equipment within the mining and improve the financials of what is actually going on. We are very excited to get this drilling done and see what ounces we can be adding on our granted mining leases that all can be brought into production in short notice.
Taking a step back, like I said, going into this year, our focus was exactly on what I just went through, get into production, become masters of our own destiny, and then use that funds to do the big exploration that we're wanting to do out here at Mangaroon and Elara, and then also return excess cash flow to our shareholders. When we take a step back and we look at Mangaroon, and I talk about Gruyère, everyone loves to talk about how the project is under explored. We look at Mangaroon and compare that to other greenstone belts. This is, here it is compared to Gruyère. This is looking at open file drill data. It's just one proxy to look at. It's not perfect, but it gives you a good idea. This is drilling from 1990 to 2017 out of Gruyère, four years after discovery.
You can see that greenstone belts have been absolutely peppered with drilling. Mangaroon, exact same scale, almost no drilling, and all the drilling down here in the southwest, that's around Haitian Zangibanda and our rare earth drilling. Looking to an even more end member extreme example, Kalgoorlie area versus Mangaroon, this is the exact same scale. You can see the absolute dearth of drilling at Mangaroon. When we talk about something being underexplored, this is what really drives us into an area. Geologically, the region should have gold, and the exploration and the drilling just has not been done to prove it up. We see great, great opportunity for major discoveries in an environment like this.
When we go back and look at a lot of the major discoveries in WA for the last 10, 15 years, your Hemies, your Tropicanas, your Gruyères, all of these are essentially going out into unloved areas and doing that exploration and finding the big prize. We're excited to be able to bring that exploration forward to this year instead of waiting to get to that work of cash flow in next year from the Star of Mangaroon. We'll look at why we think this area has a lot of potential. Big arm wavy geology here. We have major structures. We have the prospective host rocks, volcanic symmetry basins. These provide nice rheological and chemical contrast. The structures are major fluid pathways, and the prospective host rocks are areas where that gold's going to fall out.
When we plot up the historical workings, which is what those stars are on there, you can see there's quite a bit of historical workings and areas that a lot of them aren't even in WAMEX at this point. We find historical workings new time all the time out here. We visited Fence Line just yesterday, which is quite a bit of a mission to get out to. That thing looks like it has scale, and we're looking forward to drilling that here in the near future as well. When we look at that, when we look at the history of the region, the history of Mangaroon, this is an area where the historical production and all these occurrences have been found by prospectors, traditional owners, and pastoralists.
What they're going to be looking for, they're going to be looking for high-grade veins sticking out of the ground. If it's a low-grade system, they don't care. They have to transport that a long way. Low-grade systems aren't of interest. These things had to be ounce plus for them to make any money being out in these remote parts. The major part of that is that it has to be sticking out of the ground. You put a half a meter, a meter of cover on that, and you're not going to see the prospector, the traditional owner, and the pastoralist aren't going to see that gold, high-grade gold sticking out of the ground. The image on the right there, that's taking those same structures and putting in the 100K reglet from the GSWA. What you see is a really nice correlation.
All those historical workings sit in areas where there's outcomes. A lot of those major structures, in particular, like the Mingabar Fault, which is that Nima tenement that we picked up recently, that's a major crustal scale structure. Seismic has confirmed that thing goes down to the mantle. What you have there in the collision of the Yilgarn and the Pilbara, you have this major flexure point, major structure, great big bend. This is the really sort of arm wavy greatness you're looking for for big fluid flow. With big fluid flow, if there's gold in that, then having it dropped out as well. These undercover areas are places that we want to see a lot, where we see a lot of potential for making a big discovery.
We look forward to getting stuck into some of this area this year with aircore drilling and, of course, RC drilling in various different tracing out. We look at that as undercover. We look at there is also going to be, we believe, lots of additional high-grade outcropping or subcropping areas. That is with the stream sediment data. For the past three, four years now, we have been doing stream sediment sampling across the 5,000 plus square kilometers of the project area. Draw your attention to a few things here. There are stream sediment samples to the north and to the south. Those are areas that we have turned and burned. While the tenement boundary is consistently changing here at Mangaroon, as we add new ground, as we are able to do deals, and also as we are turning over ground in areas that we have deemed less prospective.
We look at this area. The other thing I'd like to point out, the Star of Mangaroon, that's this cluster of alluvial stream and, sorry, alluvial stream and gold and stream sediment samples. We see quite a broad sort of low-level anomalism around the Star of Mangaroon. This is where the vast majority of the historical workings are, including a lot of alluvial workings. When we look at it in areas like Borda, High Range North and High Range South, we start to see larger, broader, and stronger gold and stream sediment anomalism than present at the Star of Mangaroon. When we look at these areas, places like Borda, this is where Steve's Reward's coming out. This thing's over a kilometer long outcropping high-grade vein. We have High Range North, High Range South.
These are areas where prospectors have pulled out gold in the past, and they've seen almost no gold exploration at all whatsoever. We are extremely excited by what these regions will pop up, and these stream sediment samples will get us into areas where there's subcropping to outcropping high-grade gold opportunities that we'll be getting stuck into this year as well. It's important we'll be drilling Steve's rewards in the next couple of months. Target definition work, that's our soils. Over the past few years, we've been doing, we've done about 10,000 soils out here. Just highlighting, once again, these major structures where they outcrop or have very, very shallow cover. You can see those gold trends sitting along those major structures.
That Mingabar Fault is just one of the things that gets me quite excited, of course, the Star of Mangaroon and the other areas. We still have a lot of target definition work, especially around Borda, High Range North and High Range South, where our stream sets have continued to highlight big anomalous areas. We expect to see that pipeline of opportunities, of targets to drill and make a discovery continue to fill, not only from aircore on the undercover targets on the major structures, but also in the areas like Borda, High Range South and High Range North, where the mineralization should be outcropping or near outcropping. We have a steady stream of targets that we'll be looking to get stuck into. We'll zoom in on some of these areas, looking around where we've done quite a bit of the soil anomalism, soil work.
Targets like we have the Tiger Trend, Star of Mangaroon. You can see the other five mining leases pointed out in there, the Pritchard Mine, the Red Gold Mine, Two Peaks, all correspond with nice gold-in-soil anomalism. We look over Steve's Reward. We have not done the soils over that yet. We did some orientation soils just a couple of weeks ago. We should expect those out here shortly. That is now a kilometer-long outcropping lode. As we continue to explore areas like Borda, High Range North, High Range South, where we have not even done the soils yet, we expect to see a lot more high-quality targets come through. Looking at places like along the Mingabar Fault, you have Cullens, some quite a strong gold anomaly in soils.
In 1986, Peter Cullens, who is the uncle to Drew Money, and is also related to Sean Darcy and the family out at Linden and Tower Station. Their uncle put these holes in 1986. This is one of the few areas where the Mingabar Fault daylights, and you've got three meters of 6.5 and 26. There's gold on these structures where they're daylighting. We're getting a strong anomalism, midday moon. That's a 3 kilometer long by 800 meter wide gold in soil anomaly. That only dissipates as it goes to the south undercover. These are large scale anomalies, strong anomalies. We've also confirmed bedrock mineralization at midday moon. We have scalable, strong anomalies, major structures, confirmed bedrock mineralization. These are areas that we're looking forward to drilling here very, very shortly.
We are very excited by the walkup targets that we have, and of course, the pipeline of targets to come. That is Mangaroon. Again, we talked about why we did the cap raise, why we decided to bring that forward, because right now, the last 12 months, market's been very tough. Our mission was to take measures of our own destiny, get into production, use that cash flow to go out here and test these targets next year in 2026. Those markets have changed. The gold price is going through the roof. Now is the time to be drilling these targets in parallel with bringing the Star of Mangaroon into production. That is why we did the cap raise. That is what we will be doing.
We are looking forward to delivering multiple drill programs this year, not just in adding ounces on the existing mining leases, but also testing these targets on our major structures. Looking forward to making that big discovery that is actually going to be the massive value driver for Dreadnought and our shareholders. One of the other benefits of doing that is that also we have been able to keep the Elara Gold Project in-house. The Elara Gold Project down in the central Yilgarn, just outside of Menzies. We are right next door to Ora Banda. We are absolutely hitting goals at the moment. We also have the high-grade Metzke's Find resource there at 6.8 grams per ton gold. We are nearby Ora Banda. Aurenne has the Mount Ida Mill nearby. And of course, you have Delta Lithium or Delta Metals or whatever they are called these days next door to us as well.
To the unexplored history, the Elara Greenstone Belt, that's a pretty common theme for most of our projects we get into, controlled by iron ore companies for quite some time. In 2016, Newmont got involved, pegged the majority of the Elara Greenstone Belt because it had a broad geochemical anomaly of gold and tin and arsenic. That was based off of GSWA laterite sampling. They came out, they did their proprietary geochemical surveys, their terrain sensing and deep sensing geochemistry. They generated quite a few large targets, and they cleared over 27 km of tracks to do a major aircore program out of Elara. I was working nearby. I was working closely with Newmont during that time period.
When they were going to use the airport rig from us after we had finished using it, however, that airport rig had a few incidents, and the program ended up not being completed by Newmont that year. The following year, Newmont got approval in the Central Land Council to explore around Tanami, and it became all hands on deck for Tanami. If you understand the resources at Tanami, you would know why it became all hands on deck. As a result, Newmont put this project up for grabs, and we acquired that from Newmont when Dreadnought first founded in 2019. We were a $3 million market cap. We had $300,000 in the bank. Going out there and doing the giant airport program that Newmont had planned was not something that we could afford to do at the time. We did what we could do.
We focused on some of the historical workings, generating some targets, digging up the history of Captain Longmoor and the rest of it, and delivered that Metzky's resource just a couple of years ago. This is one of the most underexplored greenstone belts in the Yilgarn Craton. You look next door, Ora Banda and Delta in the Mount Ida and Illaara belts, most quite a significant amount of drilling and almost nothing next door at the Elara Belt. Ora Banda's kicking goals at the moment. It's worthwhile noting that in 2021, 2022, when the last time we did significant work out here, gold price was down to $2,200-$2,100. Ora Banda was in receivership, not in receivership, but Davyhurst had been going to care and maintenance. They were struggling, and the times have significantly changed over the last couple of years.
Ora Banda Mining absolutely kicking goals next door right now, making new discoveries in that belt, the prime time to get stuck back into Elara and do those programs that Newmont saw the massive potential in. That is why we are very, very excited to keep Elara within our portfolio. It also gives us a lot of seasonality. Gascoyne, right now, it is 40 degrees up here. It is still bloody hot, covered in flies. Whereas out in Elara right now, it is around 30, but the low of 14 would be a great time to be out there drilling. Start of the year, end of the year, it gives us an area where we can get stuck into drilling programs a lot quicker, a lot safer. Having that in there so we can rotate between the projects, as we used to say, cricket season and footy season.
Very excited to have that. More new flow, more drilling, and of course, the exploration potential there is very significant. We've done a lot of work at Elara over the years, and it's just primed right now for a big aircore program, which is what we've got planned to do at Elara, as well as add to that resource at Metzky's Find. We have these massive basin central structures. A lot of these are undercover. They have a deep saprolite profile. This is prime territory for aircore drilling. Anywhere else in the Yilgarn this area has been covered in aircore drilling already. Of course, that's what Newmont wanted to do. We are looking very forward to getting stuck into a very substantial area. We got some big bends in here, these 15-20 degree bends in the major structures, center of the belt.
This is all the great big arm wavy stuff you want to look at when looking for a prospective area. Strong anomalies among these structures. We are looking forward to getting stuck into Elara. There will be more details coming out on that over the coming months as we plan to get out there second half of this year. Of course, Metzky's Find, we have the resource there. The last drill program we did stepped out 150-200 meters to the north and continued to hit gold. It was at six at over a gram. The other side of the dike that terminates the Metzky's resource to the north. We are looking forward. We have opportunity here to extend that resource and add to that resource as well.
We also look forward, given the free gold nature of Metzky's, which is very similar to Star of Mangaroon, also utilizing photon assay technique over this area to try and get some better assay control over some of this ground. Rare earths in the Gifford Creek Combined Site Complex. There's been a few questions around this. There is still significant critical metal potential out here. This is sitting in the background. This is a free kick for our shareholders. We continue to have ongoing discussions. On the back of Wyloo taking over Hastings this year, we see a lot of potential for corporate movement in the critical metal space. The free fall of rare earth prices has stopped. We're starting to bounce back. And the novium out here is just potentially quite significant as well.
Throughout the next 6, 12, 18 months, we certainly see an opportunity to commercialize this and make this area quite an exciting critical metal opportunity. We will continue to have those discussions, and we will continue to find ways to personalize value for our shareholders on the critical metals while we focus our time in the mine that we. I think every mail-out we do costs $10,000, $20,000, $30,000. Anything that we can do to get emails in allows us to put more money into the ground. Every $10,000, that is more than a day of drilling. The more we can put towards that, the more chance we have to make them discover. How to sign up electronically? Feel free to email the company info. Debbie and Dan will be able to look after you and help set that up.
You can join the investor hub and agree to email communication, or sign up to Atomic and agree to email communication, or fourth option, communicate with your broker and ask to move to email communication. If you have any questions, please contact us. Debbie and Dan will be able to help out. If you get signed up with the mail, it will certainly help us. It will help bring down our admin costs. I believe Debbie's even stolen one of our gold nuggets to offer to people who sign up electronically. Be on the lookout for that, and please be in contact with any questions you have or any help you may require.
In summary, Dreadnought remain a gold-focused explorer, developing the high-grade Star of Mangaroon, generate cash flow, add the short-term production ounces, boost that cash flow, deliver discoveries from walk-up targets, and generate and define targets for discovery. We have quite a few questions and poll results that have come through. I'll go through these quickly, about 25 minutes in, so we're not doing too bad. First off, thank you to the 22 people who responded to the poll that Robin sent around, and also the 19 questions we received pre-webinar. It's given me a chance to put together a few slides to talk about some of these. Of course, once I'm through these, I'll take any other questions people may have. In regards to the polling, 10:00 A.M. per time seemed to work for about 70% of our respondents.
That will be the time that we target going forward for these webinars if we plan to do quite regularly. The recordings will be made available afterwards for anyone who can't make it. We expect they should all be out on the same day. I have been promised by Robin and Investor Hub that this video will be out later today. All respondents were somewhat familiar to very familiar with Dreadnought. I am trying to keep the background in these webinars light on and punchy for what we're actually doing. I will treat a lot of that background information for new investors, save that for the welcome page to look at the update on our Investor Hub, and also use that for our conferences.
Try and keep this a bit punchy and more direct to what we're doing right now instead of spending time talking about who we are and the board and the rest of it. The question themes that we've included, sorry, the question themes include the timeline for Star of Mangaroon production, shares on issue, SOI, are we considering consolidation, share buybacks, et cetera, SPP information, which I've already covered, update on the other projects, where is Dreadnought on the sun curve, our strategy, read availability, and project portfolio. I'll quickly go through some of these. The timeline for the Star of Mangaroon production. Since we've announced the gold strategy in July last year, we've delivered on each of our milestones as outlined above. Our gold strategy, exploration target, and resource drilling was announced and commenced in our September quarter.
In July, we announced that gold strategy. In November, we put out our, I believe it was November, we put out our initial resource over the Star of Mangaroon. In February of this year, we got out the scoping study. Black Cat continues to support us. We're looking to finalize the agreements in the June quarter and then have all approvals in place for the mine plan, mine closure plan, and commence production in the second half of this year. Everything remains on track for everything that we set out in July last year and going forward. In regards to cash flows, that is getting approvals and into production. When we look at cash flow, I pulled out this graph from our scoping study, which we put out in February this year. I believe it was February, February, January, actually January.
Farm's flying, can't believe it's April already. We put out this straight from the scoping study regardless. What we have here is once we have approval and we commence, there's about three months of getting mobilized, getting set up, pre-strip, and all the preparation. Three months into that, we start digging, and there's a month lag time for gold to go through a pulse and to generate cash flow. Around month four and month five from the start of production or from mining approvals and commencement, we expect to see that cash flow come through. At the moment, based on the existing resource and study, that's a 10-12 month operation. We should see all that cash flow come through by 12, 13 months in.
Hopefully, the drill program and the ones that we'll follow up with in the next couple of months will add ounces to that and extend that cash flow. We'll see what the drill bit says. Remain on track for production starting end of this year. Four to five months after production commences or after mining commences and approvals, we should start seeing cash flow come through. Webinar questions, shares on issue, are we considering share buybacks, consolidation, et cetera? Return of capital to investors, which board and management are all significant investors in the form of dividends, share buys, et cetera, will all be considered once we're in a position of positive cash flow. Reducing the shares on issue is a significant discussion point for us here. The consolidations, generally in regards to consolidations, obviously a lot of discussions around that.
Consolidations have a negative reputation and they can be counterproductive. What we will monitor, how Brightstar and Pantoro Gold over the next couple of months, they have both announced, I think, a 25-for-1 and a 17-for-1 consolidation. We will continue to monitor that situation. Our preference is, of course, share buybacks over consolidation, but we will see how those other ones go. The last thing we want to do is to do a consolidation to make our shares on issue smaller at the wrong time and just cause our share price to go back down to norm, which is what it does for a lot of companies. We want to make sure we do it from the position of strength and good momentum. Ideally, we do that with the share buybacks and not a consolidation. We will see how that goes. All the discussions are there.
Once we're in the position of cash flow, we can discuss. We'll continue to monitor how the market responds to Brightstar and Pantoro. Update on other projects, Central Yilgarn. Earlier this year, we divested Evanston Yerilgee to Catalina. On the back of our ability to raise additional capital a week or two ago, Elara will stay with Dreadnought with drilling expected in the second half of this year. Updates to come out on what those programs will look like. Need to say we're quite excited to get stuck into some of those aircore programs that we've been wanting to do since 2019. Bresnahan, we delivered that joint venture with Teck over a part of Bresnahan.
Given that there was no change in government and unlikely to be a change in uranium mining here in the state of WA, combined with continued rare earth depression, the results, a lot of discussions that we were having leading into the election have not materialized. We still have two discussions ongoing. We'll see how those play out. On the back of uranium and rare earth not holding up very strongly, strength of hand for a deal with Bresnahan is getting quite a bit weaker. We'll continue to see what happens in that space. If need be, we'll move that project on. Project Yampi, a few questions coming through on that. This continues to be under review. No drilling planned this year. Project Yampi, fantastic couple of gold discovery, great opportunity up there as we saw with the last two drill programs.
The Kimberley can be an expensive place to operate, and we haven't had, we didn't hit home runs. We have some things to follow up. We have some drilling to do. What's the best outcome for that? Is it going to be looking for a quality partner to help advance that project? Absolutely. That would be something that we would absolutely consider. Otherwise, to advance it ourselves, we'd be looking to be in sort of a situation where we're producing our own cash flow and we can allocate capital appropriately to how that work gets done. Still under review. What are the potential outcomes? We're not in a rush to divest that. We still see great opportunity for that couple of gold discovery that we have potential to make more. It is an expensive place to work, has strong seasonality.
It's a project that we will have sitting there and look at how we best move that. One of the things that's quite, I guess, one thing for Taraji-Yampi from its peak back when it was a couple thousand square kilometers back in the early days of Dreadnought, that's now fallen back to quite a tight area. Our land holding there is very focused around our discoveries and our targets and where we think is prospective. The holding cost for Taraji-Yampi is very insignificant. That's a nice option for us. We'll continue to look for partners. Once we get into cash flow, look at allocating capital to Taraji-Yampi to take that project through. Where is Dreadnought on the Lassonde curve? Always a wonderful question. I love the Lassonde curve. I guess there's one thing that's probably important to point out.
Lassonde Curve is for discoveries and mineral properties. It's not for companies. Dreadnought is not a single prospect company. Part of our strategy has always been to have a pipeline of opportunities that are sitting along that Lassonde Curve. We have a pipeline of prospects and discoveries all at different stages. You look at the Star of Mangaroon, that's looking, that's now getting into that development phase. It's starting that ramp up, getting into the strategic investment and getting into cash flow. You look at something like Yen, that's in the orphan thing. You've got that sort of study ready. It's sitting there. The resources are there. It's waiting for a return of sentiment for rare earths and pricing. Whereas things like Steve's Reward, that's sitting right at the front end, pre-discovery. You're going to drill hole into that here in May, June.
You are rising up on a discovery. Same thing with all of our other targets. Where is Dreadnought on the Lassonde curve? We are all over it. That is part of the strategy of being an explorer. We are not a single asset, single project company. We keep that pipeline going. We have prospects. The more appropriate question is, where are our different prospects? Where is the value being driven from for Dreadnought? Where are those prospects on the Lassonde curve? In regards to gold, we have pre-discoveries, discoveries hopefully being made with this drill program and the next one, and also that development phase of Star of Mangaroon. Dreadnought strategy, I had a couple of questions on that. It has certainly been a roller coaster of a ride since 2019. The overarching strategy for Dreadnought remains unchanged since 2019.
That might seem a bit that some people might not believe me on that one, but that's all right. Essentially, delivering our strategy as Dreadnought has always been to deliver shareholder value through major discovery or discoveries in the Greenfield strain of WA. Greenfield discoveries are some of the largest value creation events in the resources industry. De Grey, Hemi, Gold Road, Gruyère, Sirius Resources, Nova Bollinger, Sandfire's DeGrussa. All these are just massive value creation events. That's always been the passion and the drive behind Dreadnought and what we do. When you go into Greenfield's exploration, you never know what you're going to get, although Forrest Gump style, like WA1 being a great example. The critical metals of the Gifford Creek Bronze Age Complex are still, they still provide an option value for our shareholders.
We continue to believe that there is significant value in the Gifford Creek Bronze Age Complex. Those critical metals, those critical metals will deliver value for our shareholders when markets change and important decisions are. In developing the Star of Mangaroon, Dreadnought's not necessarily becoming an operator as far as like a change in strategy. Developing the Star of Mangaroon was an opportunity that allows us to become self-funded, particularly when we have that willpower capital market and return access capital to our shareholders. That is that when we announced that, it was a self-funded explorer. It was the ability to, instead of having to tap the markets in the future to drive exploration, we actually become masters of our own destiny. We could fund exploration from our own cash generation. Of course, we return access capital to our shareholders.
Our focus remains on what we believe to be the major value driver. As I said, I'd already used the story this year. We want to create a billion dollars. The greatest way to do that is through making a major Greenfield discovery at Elara and Mangaroon. We are very much focused on that. That overarching strategy, delivering major shareholder value in the Greenfield terrain from a discovery, is something that's always been our focus when it comes to exploration and what you're going to get. We will continue to put the drill into good targets and see what we come up with. Do we foresee any issues securing rigs needed to accelerate drilling? Short answer, absolutely not.
While gold exploration is up, nearly all commodities, rare earths, lithium, et cetera, that have been utilized in drill rigs for the last few years have all dried up. At RAU this year, there are plenty of high-quality drilling contractors going around looking for work. We have already commenced discussions with a number of drillers for the air core and the rest of the drilling that we plan to be kicking off here in the next month or two. We look forward to getting that drilling done. We do not foresee any issues securing the rigs needed to deliver that drilling. Should Dreadnought focus on just one project or a set of multiple? This kind of goes back to the strategy. It is a bit of an overlap on that. The past few years, hand up, absolutely admits Dreadnought, we took on way too many projects.
It was five projects in the portfolio, four or five projects in the portfolio. It was too much. We were spread too thin. We have been working over the last year, year and a half with some of the divestments and joint ventures and other discussions ongoing to simplify that portfolio and bring that focus back. Having said that, as an exploration company, we maintain that having two projects on the go is ideal. We never wanted to drop back to one project. We never wanted to drop Alara. A tight capital market was forcing our hand. Having two projects, so having Mangaroon in combination with Alara, allows for more continuous news flow throughout the year. We could have started drilling at Alara two months ago and been through one or two drill programs already under our belt. I have been seeing that in the 40-degree heat.
It provides more access, optionality and protection from certain events such as storms and the rest of it. It provides technical optionality. Exploration is a very uncertain business. Maintaining the pipeline of targets and commodities in different terrains and different neighbors helps mitigate that technical risk. In this gold market, what better side project to have than underexplored Greenstone Belt in the Yilgarn right next door to Ora Banda and the rest? I sort of joke that because Elara was a project that was on the chopping block, it was probably what will make the big discovery this year, but you never know. I think regardless, what a fantastic asset to have. We look forward to it. The team is very excited.
Like I said, we could have, had we had that funding in place and Elara is still on our books, we could have had two drill programs already done this year. We are very much looking forward to having that going forward. We will finish this year out at Elara and start next year at Elara as well while it is still bloody hot and cyclone season up here in the Gascoyne. That takes us to the end of the presentation and the prepared questions. If there are any other questions, please feel free to send them through. Looking at some of the questions I have up here now. Sexy vegan, let's get this gold party started. Absolutely. Thank you, sexy vegan. Absolutely.
We're very, very excited to get the gold party started and do the gold exploration, get the Star of Mangaroon into production, add ounces to that, and it's all in parallel. Make the big discovery either out here at Mangaroon or down in Elara. I think it's a very exciting time to deliver value for our shareholders in the gold space. Yeah, I think it's the gold party started. Certainly can work. Other questions? Comment on the Gippet Creek Bronze Age Complex and Taraji-Yampi. Yep, we got talks about both of those. As far as plans for 2025, ongoing discussions with the Gippet Creek Bronze Age Complex and Taraji-Yampi. 2025, probably 2026, we'll get stuck back into Taraji-Yampi. Once we have some cash flow or a partnership in place. Follow quickly behind. If you become self-funded explorer, Kimberley back on the table for next year.
Absolutely. Do we answer these questions already? If there is any other, oh, which one have we got here? Dr. McLeod, we understand that DRE has a plethora of other minerals apart from gold, like critical metals, rare earths, for example, in neodymium and prezidimium. These minerals are now no longer, spot price-wise, no longer where they were two years ago. Absolutely. Partly due to overproduction by China. Many believe, however, their prices will come back. Meantime, is there some kind of prioritization of our resources to develop our gold resources ASAP in view of the high and very possible spill rise in gold bullion prices? Should we concentrate on getting the gold out of the ground as soon as possible? New shareholder, thank you, Dr. McLeod, for that question. Absolutely. We are focused on getting that gold into production. All that approval work is being done right now.
As soon as we have approval, we'll be breaking ground on the Star of Mangaroon. Of course, also making those discoveries with that exploration side. I had a question earlier in regards to who's running the study. Is it me, the exploration geo, running the study? Absolutely not. If you look at the study work, that was all signed off on by Alistair, who's the study manager for Black Cat Syndicate. We have other people, Stephen Foley and others, ex-Newmont study manager and engineer, who's running and looking after and making sure that those studies, of course, are in good stands from the Dreadnought side. Of course, Paul Chapman, who's currently our Chairman, largest shareholder and absolute engine room behind Dreadnought. He's got Meeka Metals and Black Cat, founder of Silver Lake. Getting gold mines up and running is in Paul's blood.
We certainly have the team. We have the right people looking at that and driving that forward. My team, led by Chappi and Frank out here in the field at the moment with me, are delivering on the drill programs, delivering our discoveries. We have the right people making sure that the Star of Mangaroon remains on track to get into production with all approvals in place. The right people are ensuring that we deliver these drill programs, keep that pipeline full, and deliver the gold discoveries going forward. All right. I do not think any other questions have come through. If that is it, thank you all for tuning in. We are right at 45 minutes. I think that is a pretty good, most people's lunchtime is over. Thank you all very much for tuning in. This will be made live a bit later on.
I look forward to hearing from you again and also doing our next webinar. Feel free to continue to send through your questions. I'll continue to answer them on Investor Hub. We want everyone to be aligned, know what we're up to, know that we're driven to get the Star of Mangaroon into production, generate cash flow, and make discoveries in parallel. That's our mission for this year. We will be relentless in that pursuit. I look forward to chatting to you all again from out here in the field. Thank you very much.