Q2 report reveals
5 million of the loan has been drawn down verifying the loan
facility situation discussed.
Strangely 1 million was paid back 27 May and drawn down again 4 June
page 7 Q2
https://www.asx.com.au/asxpdf/20180726/pdf/43ws8ltdsnc4hw.pdf
Note also 3 Points about the Q2 result
Point 1 the ounces
Q2 production 6103 ounces -target 6 500 ounces - 397 ounces
Q1 production 5735 ounces -target 6400 ounces - 665 ounces
The production figures are from page 164 (pdf 17/100) of HK Business
http://www.hkexnews.hk/app/sehk/2018/ ounces/a15436/EDM-20180523-19.PDF
The negative result for this year with ounces is 1062
Point 2. The company had luck with currencies
3 million was obtained see Q2 result page 7
"Foreign exchange gains 3.1"
https://www.asx.com.au/asxpdf/20180726/pdf/43ws8ltdsnc4hw.pdf
There is this 3 million in cash and
The foreign exchange gains and losses are typically balanced over the time.
There is still real risk of the liquidity
https://hotcopper.com.au/threads/loan-use-5-million-by-15-may-cash-crises-terms-of-the-loan.4250206/
Point 3. The cash cost was 1066 USD/ ounce. This was better than during the previous
quartal but considering the price of gold at 1230 USD the margin is thin.
Conclusion: even with luck with HK listing Dragon and possible 10 million financing
Dragon will be trouble next few years
