Dragon Mining (DRA)

[Corporate]

Alright this appears to be an overlooked Goldie.

Market Cap of only $68m
No real sovereign risk
Should produce 80,000oz this financial year, 100,000oz in 2010
3 or 4 producing mines
About $12m in credit notes owing (DRAG.ax)
$8m in cash and gold concentrate

I will post more detail latter.

Chart looks interesting. Phaedrus, could you work your magic on it? Appears to me to have broken the resistance at 9.2c on low volume.

DYOR

[Phaedrus]

Yes. it is an interesting chart, C.

It's good that you noticed the break of resistance at 9.2 cents - and it's also good that you noticed the attendant low volume. This of course reduces its import a little.
Breaking through 9.2 cents is of course positive, but I would see the resistance levels of 7 cents and 10 cents as being of far greater significance. We all know that support/resistance is often found at "round figures" and we should not be surprised to find some future resistance at 10 cents.

Note the beautifully clear textbook example of a classical "Price/volume climax" giving an entry signal at just 2.1 cents. If only!

I could have added a whole raft of other technical indicators to this chart - but who need 'em? Why clutter up a nice clear simple chart with needless confirmatory signals?

So often, less is more.

http://i602.photobucket.com/albums/tt102/PhaedrusPB/DRA1124.gif

[Thumpa]

I've been holding DRA for a while.
These guys are now selling gold unhedged for the last few months , so I'm expecting a jump in margin for the next 6 months.
Also they have been buying back convertables for a while sub $1 face value (code DRAG)

I think production usually increses in their winter , as a lot of these scandinavians bugger off for long summer holidays....

Also no sovereign risk . its not Africa or Sth America.... but taxes are higher for these social paridise country's

[drillfix]

Seems to be hitting that wall of resistance @10.5c with plenty sellers.

Would consider buying after that break or on any possible dip into the 8c 7c area.

[drillfix]

Hey Corporate, 60 Million gone through @ 9c before market open.

Whats the story mate, somebody REALLY hungry?

[drillfix]

Corporate, are you there mate? This stock is hammering along now, and trust me to get in and then out previously Sheebers :rolleyes:

Good luck to you though, looking good ;)

[Corporate]

Corporate, are you there mate? This stock is hammering along now, and trust me to get in and then out previously Sheebers :rolleyes:

Good luck to you though, looking good ;)

Hey Drill, dammit another one that i've picked, not bought, and then someone has hit the GO button! Oh well you can't ride everyone. It would have been nice to have poured in my BCC profits.

I'm still tempted to get in but want to see if it can hold 10.5c.

[Corporate]

Hey Corporate, 60 Million gone through @ 9c before market open.

Whats the story mate, somebody REALLY hungry?

I think this is the disgrunted European holders. I'd really like to know who bought them though...

[drillfix]

Hey Drill, dammit another one that i've picked, not bought, and then someone has hit the GO button! Oh well you can't ride everyone. It would have been nice to have poured in my BCC profits.

I'm still tempted to get in but want to see if it can hold 10.5c.

Gee damn Corporate, Even I got into them and the out of them previously ..lol

IMO, this will go to 15c if breaks and holds 11.5c, but who knows, one can never be exactly sure in these markets with what is flavour of the day, week, month.

[Corporate]

DRA now with a market cap of $58m. CHEAP but could go lower.

[JBmurc]

looking for a new Gold sector investment DRA do look very good at current levels-also looking at IAU(more risk atm)-NAV soon to be a gold producer

good to see Eurogold take the 20m shares last friday at 9.5c.


Reviewing the Eurogold quarterly report they make the following statement:

"It is not the intention of the Board that the primary business of Eurogold will be that of a passive portfolio
investor."

[shasta]

looking for a new Gold sector investment DRA do look very good at current levels-also looking at IAU(more risk atm)-NAV soon to be a gold producer

good to see Eurogold take the 20m shares last friday at 9.5c.


Reviewing the Eurogold quarterly report they make the following statement:

"It is not the intention of the Board that the primary business of Eurogold will be that of a passive portfolio
investor."

JBMurc

Did you catch the GDO presentation today,

http://www.stocknessmonster.com/news-item?S=GDO&E=ASX&N=483359

Market Cap at ~$200m has factored in the increase of gold production for FY10, but FY11 is +50% again.

Worth keeping an eye on

[JBmurc]

mine cash costs of below US$300/oz

reserve and resource base –total of 13.6m ounces

nice worth keeping an eye on

[shasta]

mine cash costs of below US$300/oz

reserve and resource base –total of 13.6m ounces

nice worth keeping an eye on

Also have listed options GDOO - expire 12/10/2012 @ $0.50 strike price (current price $0.07),

GDO Head shares closed at $0.26 today

Sorry to hijack the DRA thread

[Awamoa]

For those interested in a gold explorer/producer this company deserves a look.
Its announcements lately are positive and the share price is beginning to respond.
It is about to have a 10 for 1 consolidation has cash reserves and has producung mines coming on stream.

[Awamoa]

She is starting to fizz.Up 26% today.