The stock is tightly held, with the top four shareholders owning almost 33%.
While it opened underwater at A19.5c the shares managed to steadily climb during the session.
DY6 was able to raise the full $7 million at 20c it was seeking, in part thanks to a $2.5 million cornerstone investment by China's Zhenshi Group.
Flagship
DY6's niche is the southern Malawi alkaline province, where it has its flagship Machinga project, known for a high ratio of heavy rare earth (up to 39%) and with an average of 3.3% dysprosium.
There are two main radiometric targets at Machinga, the 7km-long Machinga Main and 4km-long Chinduzi anomalies, with promising rock chip samples and drill results such 11m at 1% total rare earth oxides with 330ppm dysprosium from 12m, and 5m at 1.5% TREO with 596ppm dysprosium from 26m.
It has nearology too, being just 40km from Lindian Resources' rapidly growing Kangankunde carbonate resource that is slated for a pilot development within the next year.
It has a 5000m RC and diamond drilling campaign underway to follow up targets previously defined by the likes of Globe Metals and Mining.
Virgin prospect
Salambidwe is characterised by a 6km diameter syenite complex with elevated levels of thorium and uranium, from which rock chips up to 2.05% TRE and 7923ppm niobium.
It is a virgin rare earth prospect with limited previous drilling that sits on the same ring complex that hosts Kangankunde and Machinga.
Globe dropped the projects several years back to focus on its flagship Kanyika niobium project, which could become Africa's first dedicated mine for the metal and a key player in the global market.
A supermetal
Argonaut analyst George Ross recently described niobium as a "supermetal" that possesses unique physical properties that contribute to remarkable enhancements in various materials, both in steel making, aerospace and specialty alloys, and increasingly in the battery space.
Supply is dominated by Brazil, which delivers 95% of the market, creating a risk to vulnerable markets, which is one reason more explorers are now in the hunt across Africa and Australia.
DY6's final project is the Ngala Hill platinum group elements, copper and nickel play, a greenfields play once explored by Phelps Dodge that has minimal spending planned, but the area has seen little attention in 20 years and, crucially, no electromagnetic surveys.
Ngala Hill covers an ultramafic chonolith spanning 2.4km by 700m that prior drilling may not have been deep enough to intersect.
The company's board comprises Minerva Corporate founder Daniel Smith as non-executive chair, and three non-executive directors: ex-resource analyst and geologist Myles Campion, lawyer and corporate adviser John Kay, and geochemist Dr Nannan He.
DY6 shares traded between 19.5 and 25c, closing up 17.5% at 23.5c.
Less than 700,000 shares changed hands.
