Mr Poon, Pak and Ip want your shares for 0.35 A$ ?, page-10

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philc56

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07/07/18

15:21

Post #: 34204824
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Originally posted by miningnut ↑

Most of the costs of this exercise of moving to the HK Ex have already been paid out and is reflected in DRA's current net debt position. These costs would have been paid to the sponsor, Altus Capital in preparing four different sets of the draft prospectus(incl the one dated 29Mar18 that was probably not accepted by HKEx). I'm sure the current loan of $A5mil from Allied Properties would reflect/approximate these costs.
The underwriting agreement cannot be signed before HK Ex gives Dragon permission to list. I wouldn't expect the underwriter's commission would be greater than 5% of the $A17.5mil(so $875k). The sponsor would have to update the prospectus to a final version also(let's say $500k) so I would expect DRA to collect around $A16mil net from the HK share allotment when the funds become available.
Again some 95%+ of the development cost for both Faboliden and Kaapelinkulma has already been paid out and reflected in the Company's current net debt position. If the new development at Orivesi goes ahead then the Company will have adequate funds available to finance that.

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Nut: you wrote "If the new development at Orivesi goes ahead then the Company will have adequate funds available to finance that".

My understanding is that as DRA has announced an intention to appeal the decision on the permit then the mine at Orivesi can continue to operate until that appeal is denied or dismissed.

Good luck to all !

DRA Price at posting: 18.5¢ Sentiment: Hold Disclosure: Held
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Mr Poon, Pak and Ip want your shares for 0.35 A$ ?, page-10

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