Good times are ahead for Dragon.
Dragon is now unhedged (previously $400 ouch)and ready to benefit from selling at spot prices, currently $1160+ and looking bullish.
It looks as though recent major sellers who benefited during the worst of the GFC(1.5c-2c buyers) and the rearranging of the top holders has now settled down. Very encouraging looking at recent Top 20 holders stabilising.
December qtr average Euro/USD 1.46 costs were US$637
March qtr average Euro/USD 1.40 so expect costs to be announced in next quarterly to be US$607.
Currently we have Euro/USD 1.35 which would work out to be $US 589!!!!
75,000 ounces projected to be produced in 2010.
At current figures 75000 @ $1160oz = $US 87million
Production costs 75000 @ $589oz = $US 44.2mill
These kinds of figures will be released in mid year report, but a very bright future for Dragon.
Current market cap $63million Incredible!!!!
Report coming will show we have cash and bullion which will easily cover debt inc convertable notes at present and then $16million worth of value coming from CHN
gold producer ready for a run
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