Ann: Option to Acquire Dragon Mining's Stake , page-60

re: Ann: CHN: Option to Acquire Dragon Mining... OK, here comes some dumb questions:

What is a rerating?
What causes a rerating?
Who does it?
What does it drive following a rerating?

I assume it is the buy/sell/hold recommendation from key rating agencies. If it is, I'm not so sure DRA is even on their agenda.

I'm of the opinion that any form of rating from these key groups will only happen after the market cap exceeds $100m+ or 13.5c or the SP shows some activity.

The EUG and Brinkley transactions have had little exposure keeping DRA under the radar - smart move by EUG and Brinkley. Accumulate without attracting attention is generally a good thing regardless of their strategy.

Daily transaction volumes are reducing with 500k to 1m becoming a regular occurrence. We are starting to see a gap grow between the highest bid and lowest offer eg today 8.4c v 8.7c and in the last minute of trade a seller will accept the highest bid - no middle ground, keeping the daily close low without drawing attention.

Something is brewing.

CHN capital raising announcement was a bit of a surprise in it didn't mention DRA. Possibly DRA gets money from current cash with new money for feasibility study and just a play on words.

I'm waiting on an announcement re Weld Ranges. What is happening there and I still have no idea what it's worth to sell or on a per share basis.

Dare I say it - I'm also keen to see the March quarter cash flow report. Mainly due to:

Longer working hours during the quarter
Gold in transit from last quarter
Possibly cash from CHN
Strong gold price - especially Euro gold

Whilst frustrated I'm certainly holding until more unfolds.

A big concern for me is if there is manipulation (not convinced) a 50% premium at today's price means DRA is for sale for $90m, well below fair value.

The last trading halt was a bit uneventful, when do you think we will next see a price sensitive announcement? and what about what?