re: Ann: CHN: Option to Acquire Dragon Mining... It's also possible that CHN are looking for funds for the project, and to get the funds they needed confirmation from DRA.
I think this project will well exceed 1mill ounces as there is plenty of upside. Having a minority interest can also be a problem at times.
Looking at our market cap $62million and considering that this deal is worth say $14million, taking out Zara - that leaves us with a market cap of $48million with all the cash, bullion and $20-30million coming through each year.
All the gold stocks have been rising whilst DRA was in a trading halt, so expect DRA to go back up over the next few days. Price of Gold is very high and rising
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$1.34 |
Change
-0.050(3.60%) |
Mkt cap ! $571.8M | |||
| Open | High | Low | Value | Volume |
| $1.40 | $1.41 | $1.33 | $2.161M | 1.585M |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 18387 | $1.34 |
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| Price($) | Vol. | No. |
|---|---|---|
| $1.34 | 3757 | 2 |
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