DRA 2.37% $1.86 dra global limited

enter the dragon......, page-2

  1. 9,111 Posts.
    lightbulb Created with Sketch. 909


    Quick update,

    CHN entered a trading halt pending a capital raising likely to enable payment for DRA's 20% of Zara and plus payment for any resource upgrade. See

    http://asx.com.au/asxpdf/20100520/pdf/31qfbz9n0wbj4f.pdf

    This amounts to ~$13M in cash and shares to DRA, using the previous posts figures, the EV at current DRA sp assuming now also the CHN payments is ~A$42M. This also assumes DRA's cash balance will not increase at record gold prices this qtr.....

    On top of this DRA will also recieve $3.4M on completion of the BFS latter this year.

    Conservatively DRA is now trading with an EV under A$40M with debt covered and less than US$40/oz on reserves and resources basis.

    DRA is being priced as an exploration stock or a gold producer discounted for failure.

    Wont happen overnight but something has to give here.




 
watchlist Created with Sketch. Add DRA (ASX) to my watchlist
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.