Hald Year Results

The results are looking good. Half year to 30-June-2020 profit of A$6.258m (4.51 cents/share) and A$11.745m in the bank. Revenue up by 61.3%.

Test mining at Faboliden has recommenced in June and will be completed in September. Overall gold production was slightly down from the period last year (by 17.4%), mainly because of the closure of Orivesi. The average gold price realised during the period was US$1,671/oz.

The share price fell to HK$1.74 (=A$0.314)

We await the start of full production from Faboliden beginning (we hope) in early 2021, with a much higher gold price.

The report can be downloaded here: https://www.irasia.com/listco/hk/dragonmining/announcement/index.htm