Ann: Quarterly Activities Report, page-9

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miningnut

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18/02/17

10:07

Post #: 22718066
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Originally posted by miningnut ↑

Interesting couple of months coming up with the HK listing.
It seems as if the residency of the parent company will change from Aust to HK and that the shares will be delisted from ASX. I will await advice from DRA but it seems shareholders will need to open an International Trading A/c with their stockbroker such as CommSec - I don't believe the paperwork is onerous these days.
But smaller shareholders in DRA are likely to exit their positions prior to the move as it might be more trouble than it's worth to set up an account and no doubt selling on the HK exchange will incur higher transaction fees, including exchange rate differentials.
I would also expect some dilution for existing shareholders as the Company will have to establish a float of shares to HK residents, hopefully that will be minimal.
So smaller shareholders selling on the ASX but I would imagine that a HK agent/broker will be soaking up shares on the ASX prior to the move.
I soaked up the entire 40k turnover today as I'm very bullish on this move and can foresee a 5 bagger within six months but that's only a gut feel.
I happened to download on the weekend the /faboliden-samrad document that was mentioned in the quarterly report which of course was in Swedish so I put it through Google Translate. I found the exercise worth it as there was one piece of info that I believe was new - they are proposing to process 500,000 tonnes of ore per annum from Faboliden after getting approval for the full EIS - they had previously stated in the 2016 Annual Report(pg 21 last sentence) that they intended to process 300,000 tonnes per annum - that's an increase of 66.7%. That increases the expected annual production from around 27,500 ozs to around 45,000 ozs which should also lower the AISC of the operation(they stated in the above document that there would be 45 full time staff at Faboliden) - I'm hoping for a margin of around $US500/per oz or close to $A30mil per annum pre-tax.

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I always thought that Svartliden was limited to processing 300,000 tonnes of ore per annum but the following ASX announcement dated 4Dec2012 confirms the new 500,000 tonnes limit.
http://www.asx.com.au/asxpdf/20121204/pdf/42bpw60sl8vzs6.pdf

Also Swedish newspaper article(that can be translated on that page):
http://www.vk.se/1836064/dragon-mining-far-forlangt#disqus-thread

At least one keen buyer yesterday that wanted to take shares into this weekend.

Last edited by miningnut: 18/02/17

DRA Price at posting: 32.0¢ Sentiment: Buy Disclosure: Held
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Ann: Quarterly Activities Report, page-9

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Ann: Quarterly Activities Report, page-9

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