Shareholder Updates

16 October, 2019
Shareholder drilling update – 16th October 2019
The drilling programme at Mt Flora continued during the week with our first hole completed and delivered to the assay laboratory.  
Download the PDF (below) for the full report.


10 October, 2019
Clarification to Shareholder Update – September 2019
In September’s 2019 Shareholder update (page 8), Duke informed shareholders of change in Duke’s Board Structure from six Board members to four members. For the sake of clarity neither Director was requested to leave the Board…



8 October, 2019
Shareholder drilling update – 8th October 2019

FIRST WEEK OF DIAMOND DRILLING AT MT FLORA INTERSECTS MASSIVE CHALCOPYRITE COPPER VEINS

We have started our drilling programme at Mt Flora. The initial results are very promising and re-confirm the historical results and data from Endeavour drilling in the 1970s. We are one week into our drilling and see below for more detail on the drill results to date. We have also started an exercise of assessing processing options and independent economic modelling. We also had Toko, Greg and Eugene on site with Genevieve Luketina from Kenex, who is project geologist for this programme, for the first day of drilling. We are also getting ready to prepare our Annual Report, so the current activity is timely. Download the PDF (below) for the full report.


28 September, 2019
Shareholder Update – July/September 2019
Key highlights include:
  • Drilling program to commence on the Monday 30 Sept 2019
  • The historic drilling results and underground mining at Mt Flora confirm the potential for the mine area to host significant copper, silver and gold resources and a diamond drilling program has started to test the historic results and provide geological data to scope the potential for a low capital high profit mining operation that can be developed in a short timeframe.
  • The diamond drill holes were planned using the historic drill data, 3D veins mapped by Endeavour Oil, a grade block model of the historic drill results and an optimisation of the block model that confirms economic copper, silver and gold mineralisation could be present to a depth of 140m.
  • Three holes are planned to be drilled for a total of 545m, which should take four weeks to drill with final assay results expected three weeks after that.
  • Metallurgical test work for heap leach and flotation processing of mineralisation at the Mt Flora and Quorn prospects has been completed. The results from this work confirm recoveries reported in the 1970s. The metallurgical test work suggests that copper concentrate production of 30% may be achieved (well above industry norms of 20%).
  • A recent exposed rock chip sample returned 12.5% copper.
  • Core Metallurgical have been awarded the work to carry out an assessment of processing options.In addition, Core will deliver an independent economic model providing an economic assessment for the development of a mine at Mt Flora which will support the next phase of capital raising. This work will start in conjunction with the drilling program and is expected to be completed before the assays are received from the drilling program.
  • Management believes the Bundarra tenement has the potential to be a significant copper producer with silver and gold credits. Our outlook for the immediate future is very exciting and positive.
  • Our 10% free carry in Emmerson is also looking positive with recent results from drilling intersecting significant copper results.



30 June, 2019
Shareholder Update – April/June 2019
Key highlights include:
  • We have funds in the account. We are continuing to be prudent with our spend.
  • No directors’ fees are being paid to any director in cash except for a modest fee of $36k pa for theManagingDirector. It is intended that this will be reviewed at the end of September following the completion of the drilling program.
  • Management believes the Bundarra tenement has the potential to be a significant copper producer with silver and gold credits. Our outlook for the immediate future is very exciting and positive. Please see below for more information.
  • Our 10% free carry in Emmerson is also looking positive with recent results from drilling intersecting significant copper results.
  • We believe staying private for now makes sense given market conditions and the geological results we are seeing. Duke’s 10 cents fundraising is closed, and no more shares will be offered at 10 cents.



15 March, 2019
Shareholder Update – March 2019
Prospectus and Final Due Diligence meeting has been completed. • Broker Roadshow in Perth, Melbourne, Sydney Brisbane completed, with positive meetings overall. • Investor Presentation has been updated.


21 December, 2018
Shareholder Update – December 2018
  • The remaining two prospectus reports (Independent Renumeration Report and the Financial Investigation Report) are now completed. The Prospectus is now being reviewed by our Lawyers. A final draft and Due Diligence meeting are planned to be completed before Xmas and the Prospectus will be ASX ready by the end of January 2019.
  • As noted in the October 2018 Shareholder Update, the lodgement of the Prospectus and commencement of the IPO is planned in February 2019.
  • Download the update to read more…



11 September, 2018
Shareholder Update – September 2018
This shareholder update covers details  of Duke’s recent developments covering Corporate Developments, Company Strategy, Exploration, and Corporate Secretarial and IPO Progress, including
  • ASIC has approved our change in Company’s status from Duke Exploration Pty Ltd to Duke Exploration Limited;
  • On completion of the Prospectus, the Board, in consultation with Novus will consider the market conditions prior to the submission of its Application to register on ASX
and more…



7 July, 2018
Shareholder Update – July 2018
This shareholder update covers details  of Duke’s recent developments covering Corporate Developments, Company Strategy, Exploration, and Corporate Secretarial and IPO Progress.


1 June, 2018
Shareholder Update – June 2018
We have now raised sufficient funds to undertake our planned ASX Listing and finalise exploration activities on our key tenements, including pre-drilling exploration activities at Cloncurry and Bundarra as well as data collection and field work at EPM26852 (Prairie Creek prospect), which is currently under application.