Nameuser said:
"The share price could change in the blink of an eye Nordic. Thin volumes and poor liquidity have let the price remain low. This is more than likely a consequence of Australian investors not wanting to hold in a foreign jurisdiction etc..."
It may also be the opposite. The price is at its current level, because speculation of Eldorado in Hong Kong stock exchange. Again there is not enough gold in the ground, but it may exist in the pockets of less informed new shareholders, the Chinese who "love gold and dragons".
Gold ounces were discussed here: https://hotcopper.com.au/threads/loan-use-5-million-by-15-may-cash-crises-terms-of-the-loan.4250206/
Some information of possible buyers is here: https://hotcopper.com.au/threads/mr-poon-pak-and-ip-want-your-shares-for-0-35-a.4291023/
The Dragon has had much higher share price even in Australia, over 2 A$ in 2004 and over 1 A$ 2011. The company has failed to fulfill the expectations based on Kuusamo for example. There is really high grade gold which was loudly announced, but company failed to inform the risks of high uranium in the ore. This lead to disqualified Environmental Impact Assessment 2014, loss of social license and the land planning decisions against the mine. The director splayed once again by not informing in due time about the failures. https://hotcopper.com.au/threads/dragons-kuusamo-eia-failed-month-ago.2313570/ https://hotcopper.com.au/threads/dragon-mining-the-duck-trouble-in-kuusamo.2659917/
The company has policy to hide problems and inform late about these. Insiders may have escaped with higher share prices. The original owner of the Finnish projects, the major mining company called Outokumpu, with deep knowledge of the problems with Kuusamo and being the original and substantial cause of the nickel problem in Vammala, appears to have cashed most of its 40 million shares, possible with 1-2 A$ (has it made 60 million A$ or even more?+ 5.5 million euros cash). Vammala plant is operating over 50% more than its permit capacity. Its new permit has been returned to the permit authority.
History with Outokumpu, see page 138 last paragraph to page 139 http://www.hkexnews.hk/app/sehk/2018/2018052305/a15436/EDM-20180523-17.PDF
Vammala permit: https://hotcopper.com.au/threads/southern-finland-and-permit-issues.2977730/
It could be the time for Dragon´s shareholders to realize, what is the real problem: No real prospects and environmentally and socially incompetent leadership especially in the Finnish company. Company could have solved some of the environmental issues by requiring participitation of Outokumpu, and also the others by using modern technology, but it has had enough interest or courage for that.
Allied Properties is the controlling owner with its own directors leading the company. The best prospect for the owners would get them responsible for problems.
To be able to continue, the company must stop irresponsible and non-sustainable projects like Kaapelinkulma. The profit would be very low, possibly a couple of million, but damage would be for thousands of years with few kilometers from the city center of Valkeakoski. The permit has been challenged in Vaasa Administrative court, and Dragon keeps gambling to invest in that project. City government has required EIA and indicated that the road plan is not sustainable. https://hotcopper.com.au/threads/do...art-mining-in-kaapelinkulma-any-time.3936668/
"Value is there but to realise it's full potential, the company has made the decision to move exchanges. Time will tell, it's that simple..."
-The full potential would be even larger disaster.
With your words, in an exchange even
"in the blink of an eye".
DRA Price at posting:
18.5¢ Sentiment: None Disclosure: Not Held