DRA 0.00% $1.96 dra global limited

Hong Kong listing in July 2018? Any risks?

  1. 312 Posts.
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    In this other discussion Miningnut suggested that listing would start on June 12th,
    millie34au said that his money would on July, which appears to be agreed to be
    the best estimate.
    millie34au  on 11 June 2018:
    "Hi   I would have thought it was something they would have to announce as it would be material . My understanding is that there is a hearing in which there may even be further questions and that only once all those have been answered the prospectus is updated with those responses and any  material events up to that date and only then is the final ok given by the HK exchange .Only then  we would see the  delisting  from the ASX . I wish you were correct and it would be in the next couple of days but my money is on it being some time next month,"
    https://hotcopper.com.au/threads/an...listing-from-asx-and-listing-on-hkex.4208055/

    The day has changed numerous times. There are new risk factors emerging.
    After 11 June it was informed, that Orivesi environmental permit was rejected by Vaasa Administrative court and
    in contrast to last year's information a permit is need to appeal to Supreme administrative court,
    which Dragon will try to get.

    If permit would not be granted, then Dragon would have problems with near term income.
    They have  invested  a lot of exploration in Orivesi and reported "price sensitive" good results.

    After June 11th, it has been also discovered in one section of Hong Kong papers, that until May 15th 5 million of the loan facility was used (interestingly this was not updated to most parts of the document). The loan would need to payed back until 2019.
    There are financial problems with current mine status, and last year was negative by 8.3 million A$, this connued on Q1 2018, and apparently also during Q2.
    https://hotcopper.com.au/threads/loan-use-5-million-by-15-may-cash-crises-terms-of-the-loan.4250206/

    Here some people  with "big pictures" say that Fäboliden is huge and open, but this is not true.
    There is only 100 000 tons test mining permit. Dragon has promised to produce
    environmental permit application for Fäboliden in Q2 2018 (now late), and earliest time for opening
    is in 2020.

    There is no upside with gold production based on the prediction in business part of the Hong Kong
    documents. Last year  was catastrophic with production of 28 204 ounces, negative cash flow was 8.3  million.

    This and next year are predicted to be even worse  2018  26300 ounces, 2019 27 700 ounces, 2020 and 2021
    are predicted to be a bit better with 33 200 and 33 400 ounces, but even these are worse than
    last positive year 2016 with 34 417 ounces. Then the production would sink 2022 to 23 700, 2023 to 25 700
    and 2024 ounces 10 100. It possible that Fäboliden could continue as tunnel mine for a couple of years.
    There is no upside with Fäboliden.
    The production figures are from page 16   (pdf 17/100)
    http://www.hkexnews.hk/app/sehk/2018/2018052305/a15436/EDM-20180523-19.PDF
 
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