DRA 0.00% $2.11 dra global limited

There is also the probability that after Dragon lists on HK Ex...

  1. 10,204 Posts.
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    There is also the probability that after Dragon lists on HK Ex that it will undertake a scrip merger with Tanami Gold(TAM) that will have some $A33mil in cash and liquid investments by the end of July together with a 25% interest in a gold mining project, Central Tanami(in Northern Territory, Aust), that will be developed in a couple of years - their 75% partner is Northern Star(NST), which is Australia's second largest gold miner - Tanami(TAM) has a put option to sell its interest to NST for $A32mil so that is the minimum value of TAM's interest in this joint venture.
    There have always been similar shareholdings(Allied Properties) in DRA and TAM - and both of these Companies share offices/administration. Allied Properties has recently divested its interest in TAM to APAC Resources(that does have loose ties to Allied Properties). One could be forgiven for speculating that this transaction was initiated to allow this scrip merger between DRA and TAM to occur.
    On completion of this merger, DRA would have plenty of cash and a broader range of
    gold mining projects and so would be more attractive as an investment in HK.
 
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