DY6 Raises A$4.6M as Central Rutile Project Expands to 8,789 km²

Significant Expansion in Cameroon

DY6 Metals Ltd (ASX – DY6) has reported a major milestone in its exploration journey with a substantial expansion of its Central Rutile Project in Cameroon. The project footprint has nearly tripled, now covering 8,789 square kilometres after the addition of 5,901 square kilometres of new licenses. This expansion encompasses key prospects such as Bounde, Matomb, Alamba, and Nsimbo, all previously noted for promising rutile and heavy mineral sands (HMS) mineralisation.

Assay results from the quarter have confirmed high-grade natural rutile mineralisation, with grades reaching up to 2.1% rutile over one metre at Nsimbo and 1.57% at Alamba. These findings reinforce the project's potential to become a globally significant rutile province, a critical mineral used extensively in titanium dioxide production.

Accelerated Exploration and Drilling

Building on these encouraging results, DY6 has fast-tracked its exploration timeline. A 91-hole auger drilling campaign commenced post-quarter, targeting depth extensions at Alamba, Nsimbo, Bounde, and Nganda. The company is also conducting extensive soil sampling and portable X-ray fluorescence analysis to rapidly identify titanium-enriched zones and prioritise drilling targets. Initial laboratory assay results from these programs are expected in the December quarter, which will provide further clarity on grade distribution and mineral assemblage.

Strategic Review of Malawian Rare Earths

In parallel, DY6 has initiated a strategic review of its Malawian rare earth element (REE) portfolio. This review is timely given the increasing geopolitical focus on securing diversified and non-China supply chains for critical minerals. The company’s Malawian assets include the Tundulu REE, phosphate, and gallium project, as well as the Machinga heavy rare earth and niobium project, both showing promising mineralisation footprints. DY6 has engaged a specialist consultant to assist in exploring value realisation pathways for these assets.

Capital Raise and Leadership Strengthening

To support its accelerated exploration agenda, DY6 successfully raised A$4.625 million at $0.30 per share during the quarter. Notably, the company’s directors and CEO contributed A$290,000, demonstrating strong alignment with shareholders. Leadership has been bolstered with the appointment of Cliff Fitzhenry as CEO, transitioning from his prior role as Technical Consultant. Additional senior hires and an expanded in-country technical team, including Dr Moses Ndasi as country manager and promotions within the exploration team, underpin the company’s operational ramp-up.

Financial Position and Outlook

DY6 reported exploration expenditure of A$1.298 million for the quarter and ended with approximately A$3.7 million in cash. The company’s active engagement with investors through conferences and roadshows in key markets like Hong Kong, Perth, and Sydney signals its intent to maintain strong market visibility as it advances towards production. The upcoming assay results and strategic review outcomes will be critical in shaping DY6’s next phase of growth.