| Completion of sale of interest in Weld Range Metals | |
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ASX ANNOUNCEMENT 11 SEPTEMBER 2015
COMPLETION OF SALE OF INTEREST IN WELD RANGE METALS LIMITED
Further to its announcement on 7 September 2015, Dragon Mining Limited ("Dragon Mining" or "the Company") is pleased to announce completion of the sale of its 39.95% interest in Weld Range Metals Limited, the owner of the Weld Range Project that is located in the Mid-West region of Western Australia, to Ausinox plc ("Ausinox").
The remaining $750,000 of the $1 million agreed consideration has today been paid to Dragon Mining, together with
$128,773 in interest and $33,742 reimbursement of costs incurred, over and above the purchase price, by Dragon
Mining as a result of non-completion.
Dragon Mining's Executive Director, Mr Brett Smith, commented: "We are pleased that the sale of this non-core asset has now been completed and thank Mr Michael Naylor of Weld Range for his efforts in bringing this transaction to a conclusion. The funds will be used towards further developing our Nordic projects."
For and on behalf of
Dragon Mining Limited
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Dragon Mining NL
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PRODUCER |
CODE : DRA.AX |
ISIN : AU000000DRA1 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Dragon Mining is a nickel and gold producing company based in Australia. Dragon Mining develops nickel, gold and copper in Australia, in Eritrea and in Finland, and holds various exploration projects in Australia, in Finland and in Spain. Its main assets in production are SVARTLIDEN in Sweden and ORIVESI in Finland, its main assets in development are VAMMALA, PAMPALO and KUUSAMO in Finland, WELD in Australia and ZARA in Eritrea and its main exploration properties are ASHBURTON and WELD RANGE in Australia, KAAPELINKULMA, RITAKALLIO, TAMMIJÄRVI, SUKSETON, HANHIMAA, KUHMO and KYLYLAHTI in Finland and LUGO in Spain. Dragon Mining is listed in Australia and in Germany. Its market capitalisation is AU$ 197.2 millions as of today (US$ 130.5 millions, € 120.8 millions). Its stock quote reached its lowest recent point on December 12, 2014 at AU$ 0.08, and its highest recent level on July 23, 2021 at AU$ 4.69. Dragon Mining has 88 840 000 shares outstanding. |