re: Ann: CHN: Option to Acquire Dragon Mining... @greenme, I was...

re: Ann: CHN: Option to Acquire Dragon Mining... @greenme, I was thinking along the same lines as you but probably without calling it rubbish.

Depending upon your time reference, this deal is poor if we were back in the 07 mineral boom where absurd prices were paid for blue sky, pipe dreams and empty promises. Factors such as time to first pour and sovereign risk aren't even considered.

Today though, its a great deal. Let CHN focus on convincing someone else of the pipe dream, raise the cash and pay DRA out. Contrary to what others have said, I hope they upgrade the resource, I hope the Canadians buy in etc etc.

In the meantime, DRA can focus on Scandanavia, get Europeans on board and gradually build wealth. I posted earlier I expect gold to be $1500 this year, but in 5 years who knows.
Its clear the Euro's have a clear goal, and Africa ain't it.

Anyone out either hold (or get burnt on) UMC or AGS ??? The lesson there is sometimes you've got to take the opportunity because only after do you realise its a good one.

Good luck all.