Board Change • Jun 25
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. 2 independent directors (3 non-independent directors). Independent Non-Executive Director Martin Pak was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Jun 25
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to HK$4.55, the stock trades at a trailing P/E ratio of 2.6x. Average trailing P/E is 14x in the Metals and Mining industry in Hong Kong. Total returns to shareholders of 279% over the past three years. Valuation Update With 7 Day Price Move • May 29
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to HK$5.86, the stock trades at a trailing P/E ratio of 3.3x. Average trailing P/E is 17x in the Metals and Mining industry in Hong Kong. Total returns to shareholders of 319% over the past three years. Valuation Update With 7 Day Price Move • Mar 19
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to HK$8.82, the stock trades at a trailing P/E ratio of 5x. Average trailing P/E is 18x in the Metals and Mining industry in Hong Kong. Total returns to shareholders of 756% over the past three years. Announcement • Mar 15
Dragon Mining Limited Announces Retirement of Carlisle Caldow Procter as Independent Non-Executive Director Dragon Mining Limited announced that Mr. Carlisle Caldow Procter has notified the Board of his decision to retire as an independent non-executive Director by rotation at the forthcoming annual general meeting of the Company, and will not offer himself for re-election in order to devote more time to pursue other interests in accordance with his retirement plan. With effect from Mr. Procter’s retirement at the conclusion of the annual general meeting, he will also cease to be the chairman of the remuneration committee, as well as a member of the audit and risk management committee and nomination committee of the Company. Reported Earnings • Mar 13
Full year 2025 earnings released: EPS: AU$0.36 (vs AU$0.081 in FY 2024) Full year 2025 results: EPS: AU$0.36 (up from AU$0.081 in FY 2024). Revenue: AU$143.8m (up 98% from FY 2024). Net income: AU$60.2m (up 368% from FY 2024). Profit margin: 42% (up from 18% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 106% per year but the company’s share price has increased by 120% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 12
Dragon Mining Limited, Annual General Meeting, May 21, 2026 Dragon Mining Limited, Annual General Meeting, May 21, 2026. Valuation Update With 7 Day Price Move • Mar 02
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to HK$12.80, the stock trades at a trailing P/E ratio of 18.6x. Average trailing P/E is 20x in the Metals and Mining industry in Hong Kong. Total returns to shareholders of 1,322% over the past three years. Announcement • Feb 05
Dragon Mining Limited to Report Fiscal Year 2025 Results on Mar 12, 2026 Dragon Mining Limited announced that they will report fiscal year 2025 results on Mar 12, 2026 Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to HK$7.75, the stock trades at a trailing P/E ratio of 11.4x. Average trailing P/E is 21x in the Metals and Mining industry in Hong Kong. Total returns to shareholders of 580% over the past three years. Valuation Update With 7 Day Price Move • Jan 21
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$8.67, the stock trades at a trailing P/E ratio of 13.3x. Average trailing P/E is 19x in the Metals and Mining industry in Hong Kong. Total returns to shareholders of 803% over the past three years. Valuation Update With 7 Day Price Move • Oct 22
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to HK$7.10, the stock trades at a trailing P/E ratio of 11.3x. Average trailing P/E is 17x in the Metals and Mining industry in Hong Kong. Total returns to shareholders of 914% over the past three years. Valuation Update With 7 Day Price Move • Oct 08
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to HK$8.38, the stock trades at a trailing P/E ratio of 13.2x. Average trailing P/E is 19x in the Metals and Mining industry in Hong Kong. Total returns to shareholders of 1,017% over the past three years. Reported Earnings • Sep 24
First half 2025 earnings released: EPS: AU$0.08 (vs AU$0.012 in 1H 2024) First half 2025 results: EPS: AU$0.08 (up from AU$0.012 in 1H 2024). Revenue: AU$54.5m (up 78% from 1H 2024). Net income: AU$12.7m (up AU$10.7m from 1H 2024). Profit margin: 23% (up from 6.4% in 1H 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has increased by 114% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Sep 23
Dragon Mining Limited has completed a Follow-on Equity Offering in the amount of HKD 177.384396 million. Dragon Mining Limited has completed a Follow-on Equity Offering in the amount of HKD 177.384396 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 31,619,322
Price\Range: HKD 5.61
Discount Per Security: HKD 0.126225
Transaction Features: Subsequent Direct Listing Valuation Update With 7 Day Price Move • Sep 10
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to HK$7.00, the stock trades at a trailing P/E ratio of 9.1x. Average trailing P/E is 13x in the Metals and Mining industry in Hong Kong. Total returns to shareholders of 724% over the past three years. Announcement • Sep 09
Dragon Mining Limited has filed a Follow-on Equity Offering in the amount of HKD 177.384396 million. Dragon Mining Limited has filed a Follow-on Equity Offering in the amount of HKD 177.384396 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 31,619,322
Price\Range: HKD 5.61
Discount Per Security: HKD 0.126225
Transaction Features: Subsequent Direct Listing Recent Insider Transactions • Sep 03
Non-Executive Chairman recently sold HK$1.3m worth of stock On the 1st of September, Arthur George Dew sold around 220k shares on-market at roughly HK$6.09 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Arthur George's only on-market trade for the last 12 months. Valuation Update With 7 Day Price Move • Aug 27
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to HK$5.90, the stock trades at a trailing P/E ratio of 7.8x. Average trailing P/E is 12x in the Metals and Mining industry in Hong Kong. Total returns to shareholders of 620% over the past three years. Reported Earnings • Aug 24
First half 2025 earnings released: EPS: AU$0.08 (vs AU$0.012 in 1H 2024) First half 2025 results: EPS: AU$0.08 (up from AU$0.012 in 1H 2024). Revenue: AU$54.5m (up 78% from 1H 2024). Net income: AU$12.7m (up AU$10.7m from 1H 2024). Profit margin: 23% (up from 6.4% in 1H 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 83% per year whereas the company’s share price has increased by 86% per year. Valuation Update With 7 Day Price Move • Aug 11
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to HK$4.38, the stock trades at a trailing P/E ratio of 10.5x. Average trailing P/E is 12x in the Metals and Mining industry in Hong Kong. Total returns to shareholders of 392% over the past three years. Board Change • Aug 11
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 4 highly experienced directors. Non-Executive Director Lai Lam was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Aug 09
Dragon Mining Limited to Report Q2, 2025 Results on Aug 20, 2025 Dragon Mining Limited announced that they will report Q2, 2025 results on Aug 20, 2025 Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to HK$5.07, the stock trades at a trailing P/E ratio of 12.2x. Average trailing P/E is 9x in the Metals and Mining industry in Hong Kong. Total returns to shareholders of 306% over the past three years. New Risk • May 26
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Hong Kong stocks, typically moving 15% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (15% average weekly change). Earnings have declined by 3.6% per year over the past 5 years. Minor Risk Market cap is less than US$100m (HK$559.7m market cap, or US$71.4m). Valuation Update With 7 Day Price Move • May 23
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to HK$3.18, the stock trades at a trailing P/E ratio of 7.7x. Average trailing P/E is 9x in the Metals and Mining industry in Hong Kong. Total returns to shareholders of 141% over the past three years. Board Change • May 20
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 4 highly experienced directors. Non-Executive Director Lai Lam was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Valuation Update With 7 Day Price Move • Apr 22
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to HK$3.39, the stock trades at a trailing P/E ratio of 8.4x. Average trailing P/E is 9x in the Metals and Mining industry in Hong Kong. Total returns to shareholders of 147% over the past three years. New Risk • Apr 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hong Kong stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 3.6% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (HK$458.5m market cap, or US$59.1m). Reported Earnings • Apr 12
Full year 2024 earnings released: EPS: AU$0.081 (vs AU$0.033 in FY 2023) Full year 2024 results: EPS: AU$0.081 (up from AU$0.033 in FY 2023). Revenue: AU$72.8m (up 20% from FY 2023). Net income: AU$12.9m (up 148% from FY 2023). Profit margin: 18% (up from 8.6% in FY 2023). The increase in margin was driven by higher revenue. Production and reserves: Gold Production: 39.829 troy koz (37.668 troy koz in FY 2023) Proved and probable reserves (ore): 4 Mt (4.2 Mt in FY 2023) Number of mines: 2 (2 in FY 2023) Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Announcement • Apr 03
APAC Resources Limited (SEHK:1104) proposed to acquire remaining 70.35% stake in Dragon Mining Limited (SEHK:1712) from Sincere View International Limited, Arthur George Dew, Carlisle Caldow Procter and others for approximately HKD 240 million. APAC Resources Limited (SEHK:1104) proposed to acquire remaining 70.35% stake in Dragon Mining Limited (SEHK:1712) from Sincere View International Limited, Arthur George Dew, Carlisle Caldow Procter and others for approximately HKD 240 million on April 1, 2025. A cash consideration of HKD 244.68 million valued at HKD 2.2 per share will be paid by APAC Resources Limited. As part of consideration, HKD 244.68 million is paid towards common equity of Dragon Mining Limited. Upon completion, APAC Resources Limited will own 100% stake in Dragon Mining Limited. The transaction will be financed through unsecured term loan facility of up to HKD 245 million. The transaction is subject to approval by Securities and Futures Commission of Hong Kong and Australian Securities and Investments Commission. The deal is also subject to the approval of offer by acquirer shareholders.
Yu Ming Investment Management Limited acted as financial advisor for APAC Resources Limited. Board Change • Apr 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 4 highly experienced directors. Non-Executive Director Lai Lam was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. New Risk • Mar 14
New major risk - Revenue and earnings growth Earnings have declined by 3.6% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 3.6% per year over the past 5 years. Minor Risk Market cap is less than US$100m (HK$300.4m market cap, or US$38.6m). Announcement • Mar 13
Dragon Mining Limited, Annual General Meeting, May 22, 2025 Dragon Mining Limited, Annual General Meeting, May 22, 2025. Valuation Update With 7 Day Price Move • Mar 10
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$1.97, the stock trades at a trailing P/E ratio of 8.9x. Average trailing P/E is 11x in the Metals and Mining industry in Hong Kong. Total returns to shareholders of 36% over the past three years. Announcement • Mar 03
Dragon Mining Limited to Report Fiscal Year 2024 Results on Mar 13, 2025 Dragon Mining Limited announced that they will report fiscal year 2024 results on Mar 13, 2025 Valuation Update With 7 Day Price Move • Feb 04
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to HK$1.70, the stock trades at a trailing P/E ratio of 7.8x. Average trailing P/E is 11x in the Metals and Mining industry in Hong Kong. Total returns to shareholders of 21% over the past three years. Valuation Update With 7 Day Price Move • Jan 02
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to HK$1.75, the stock trades at a trailing P/E ratio of 8x. Average trailing P/E is 10x in the Metals and Mining industry in Hong Kong. Negligible returns to shareholders over past three years. Valuation Update With 7 Day Price Move • Oct 02
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to HK$1.70, the stock trades at a trailing P/E ratio of 7x. Average trailing P/E is 10x in the Metals and Mining industry in Hong Kong. Total returns to shareholders of 13% over the past three years. Reported Earnings • Sep 25
First half 2024 earnings released: EPS: AU$0.012 (vs AU$0 in 1H 2023) First half 2024 results: EPS: AU$0.012 (up from AU$0 in 1H 2023). Revenue: AU$30.7m (down 7.5% from 1H 2023). Net income: AU$1.97m (up AU$1.95m from 1H 2023). Profit margin: 6.4% (up from 0.1% in 1H 2023). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Aug 09
Dragon Mining Limited to Report First Half, 2024 Results on Aug 21, 2024 Dragon Mining Limited announced that they will report first half, 2024 results on Aug 21, 2024 Reported Earnings • Apr 14
Full year 2023 earnings released: EPS: AU$0.033 (vs AU$0.016 in FY 2022) Full year 2023 results: EPS: AU$0.033 (up from AU$0.016 in FY 2022). Revenue: AU$60.5m (up 15% from FY 2022). Net income: AU$5.19m (up 109% from FY 2022). Profit margin: 8.6% (up from 4.7% in FY 2022). Production and reserves: Gold Proved and probable reserves (ore): 4.2 Mt (4.2 Mt in FY 2022) Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Announcement • Apr 12
Dragon Mining Limited, Annual General Meeting, May 23, 2024 Dragon Mining Limited, Annual General Meeting, May 23, 2024, at 10:00 China Standard Time. Location: Basement 3,Novotel Century Hong Kong 238 Jaffe Road Wanchai Hong Kong Agenda: To receive and adopt the audited consolidated financial statements of the Company, the Directors' report and the independent auditor's report for the year ended 31 December 2023; to re-elect Mr. Arthur George Dew as a Director; To re-elect Mr. Pak Wai Keung Martin as a Director; to re-appoint Ernst & Young as auditor and authorise the Board of Directors to fix its remuneration; and to consider other matters. Valuation Update With 7 Day Price Move • Apr 12
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to HK$2.05, the stock trades at a trailing P/E ratio of 12.2x. Average trailing P/E is 13x in the Metals and Mining industry in Hong Kong. Total returns to shareholders of 13% over the past three years. New Risk • Mar 17
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 2,497% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (HK$265.6m market cap, or US$34.0m). Reported Earnings • Mar 15
Full year 2023 earnings released: EPS: AU$0.033 (vs AU$0.016 in FY 2022) Full year 2023 results: EPS: AU$0.033 (up from AU$0.016 in FY 2022). Revenue: AU$60.5m (up 15% from FY 2022). Net income: AU$5.19m (up 109% from FY 2022). Profit margin: 8.6% (up from 4.7% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Announcement • Jan 23
Dragon Mining Limited Final Results Receives for the Kujankallio Drilling Campaign At Jokisivu Dragon Mining Limited have been received for the underground diamond core drilling campaign undertaken in the Kujankallio area at the Jokisivu Gold Mine("Jokisivu") in southern Finland. Intercepts generated from the final 13 holes include highlights 2.50 metres @ 17.28 g/t gold and 7.10 metres @3.75 g/t gold, which support earlier released highlight intercepts from this campaign of 4.25 metres @ 13.47 g/t gold, 1.60 metres @ 26.91 g/t gold and 6.00 metres @ 8.86 g/t gold. These results align well with expectations, better defining the extent and geometry of the depth extensions of the Kujankallio lode system below current development levels, providing information to support future mine planning and development in this area. The Jokisivu Gold Mine is situated north-east of the Finnish capital, Helsinki, some 40 kilometres southwest of the Company's Vammala Plant in southern Finland. It forms part of Dragon Mining's wholly owned Vammala Production Centre, which comprises the Vammala Plant, a 300,000 tonnes per annum conventional crushing, milling and flotation facility, the operational Jokisivu Gold Mine, the Kaapelinkulma Gold Mine where open pit mining ceased in April 2021, the Orivesi Gold Mine where mining ceased in June 2019 and the Uunimäki Gold Project. The Jokisivu deposit represents a structurally controlled orogenic gold system located in the Palaeoproterozoic Vammala Migmatite Belt. It comprises two principal sets of parallel lodes of varying thickness and grade 200-metres apart, Kujankallio and Arpola, each of which is hosted in shear zones striking west-northwest within a quartz diorite unit. The shear zones are characterised by laminating, pinching, and swelling quartz veins and a well-developed, moderately plunging lineation. Gold mineralisation is contained within the quartz veins and shear zones within the barren host rocks. Gold mineralisation in the Kujankallio area has been shown by drilling to extend over a 710 metre vertical extent from surface, whilst gold mineralisation in the Arpola area extends over a 410 metre vertical extent from surface. The Jokisivu deposit remains open with depth and partially along strike. Open-pit mining at Jokisivu commenced in 2009 and underground production in 2011. By the end of 2023 underground development at Jokisivu has extended down to the 645m level, with approximately 3.0 million tonnes grading 2.8 g/t gold being mined from the open-pit and underground operations. Announcement • Jan 16
Dragon Mining Limited Provides Group Earnings Guidance for the Year Ended December 31, 2023 Dragon Mining Limited provided group earnings guidance for the year ended December 31, 2023. The board of directors of the company updated the shareholders of the Company and potential investors that, based on the information currently available to Company and the preliminary review of the Group's unaudited management accounts for the year ended 31 December 2023, which have not been audited or reviewed by the auditors and/or the audit and risk management committee of the Company, it is expected that the Group will record an increase in net profit for the year ended 31 December 2023 (Reporting Period) ranging between approximately AUD 4.2 and AUD 5.5 million, as compared to the net profit after tax of AUD 2.5 million for the year ended 31 December 2022 (Corresponding Period). Announcement • Jan 15
Dragon Mining Limited to Report Fiscal Year 2023 Results on Mar 14, 2024 Dragon Mining Limited announced that they will report fiscal year 2023 results on Mar 14, 2024 Announcement • Oct 26
Dragon Mining Limited Announces - Jokisivu Drilling Returns High Grade Intercepts Dragon Mining Limited announced that results have been received for underground diamond core drilling campaigns undertaken at the Jokisivu Gold Mine in southern Finland. These campaigns were directed at both the Arpola and Kujankallio areas and returned a number of narrow, high-grade intercepts including: Arpola: 2.10 metres @ 20.02 g/t gold from 90.40 metres in HU/JS-1285, 1.00 metre @ 37.00 g/t gold from 83.60 metres in HU/JS-1288, 0.70 metres @ 13.60 g/t gold from 87.40 metres in HU/JS-1288, 1.35 metres @ 24.73 g/t gold from 64.40 metres in HU/JS-1290, 4.50 metres @ 16.14 g/t gold from 85.50 metres in HU/JS-1290, 0.70 metres @ 25.80 g/t gold from 93.00 metres in HU/JS-1291, 2.00 metres @ 42.57 g/t gold from 98.00 metres in HU/JS-1292, 1.35 metres @ 14.72 g/t gold from 102.50 metres in HU/JS-1294. Kujankallio: 4.25 metres @ 13.47 g/t gold from 104.15 metres in HU/JS-1265, 1.60 metres @ 26.91 g/t gold from 109.75 metres in HU/JS-1269, 0.50 metres @ 13.55 g/t gold from 16.50 metres in HU/JS-1270, 6.00 metres @ 8.86 g/t gold from 86.50 metres in HU/JS-1270, 1.00 metre @ 17.00 g/t gold from 53.00 metres in HU/JS-1271. The results received are from two campaigns of drilling, including the fully completed 12 hole campaign in the Arpola area and 10 holes from an ongoing 23 hole campaign that is targeting the Kujankallio area. Additionally, results are also provided for the final 4 holes of the 24 hole campaign completed in the Basin Zones area. Results align well with expectations, better defining the extent and geometry of extensions to known mineralised zones in the Arpola, Kujankallio and Basin Zones areas. The results also provide additional information for inclusion in the next iteration of the Jokisivu Mineral Resource and Ore Reserve estimations, which are scheduled to commence in the coming month. Jokisivu Gold Mine: The Jokisivu Gold Mine is situated north-east of the Finnish capital, Helsinki, some 40 kilometres southwest of the Company's Vammala Plant in southern Finland. It forms part of Dragon Mining's wholly owned Vammala Production Centre, which comprises the Vammala Plant, a 300,000 tonnes per annum conventional crushing, milling and flotation facility, the operational Jokisivu Gold Mine, the Kaapelinkulma Gold Mine where open pit mining ceased in April 2021, the Orivesi Gold Mine where mining ceased in June 2019 and the Uunimäki Gold Project. The Jokisivu deposit represents a structurally controlled orogenic gold system located in the Palaeoproterozoic Vammala Migmatite Belt. It comprises a set of parallel lodes of varying thickness and grade, hosted in a shear zone striking west-northwest within a quartz diorite unit. The shears are characterised by laminating, pinching, and swelling quartz veins and a well-developed, moderately plunging lineation. Gold mineralisation is contained within the quartz veins and shear zones within the barren host rocks. Mineralisation in the Kujankallio area has been shown by drilling to extend over a 710 metre vertical extent from surface, whilst mineralisation in the Arpola area extends over a 410 metre vertical extent from surface. The deposit remains open with depth and partially along strike. Open-pit mining in the Kujankallio area commenced in 2009 and underground production in 2011. A small open-pit was mined in the Arpola area in 2011 and underground production commenced from this area in 2014. Underground development has now extended at Jokisivu down to the 645m level, with approximately 2.8 million tonnes grading 2.9 g/t gold being mined from the open-pit and underground operations by the end of June 2023. New Risk • Oct 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hong Kong stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (HK$256.1m market cap, or US$32.7m). Reported Earnings • Aug 28
First half 2023 earnings released: EPS: AU$0 (vs AU$0.023 in 1H 2022) First half 2023 results: EPS: AU$0 (down from AU$0.023 in 1H 2022). Revenue: AU$33.2m (up 36% from 1H 2022). Net income: AU$26.0k (down 99% from 1H 2022). Profit margin: 0.1% (down from 15% in 1H 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 79 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Aug 08
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to HK$1.56, the stock trades at a trailing P/E ratio of 19.3x. Average trailing P/E is 8x in the Metals and Mining industry in Hong Kong. Total loss to shareholders of 22% over the past three years. Announcement • Jul 23
Dragon Mining Limited to Report First Half, 2023 Results on Aug 25, 2023 Dragon Mining Limited announced that they will report first half, 2023 results on Aug 25, 2023 Valuation Update With 7 Day Price Move • Jun 14
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to HK$1.20, the stock trades at a trailing P/E ratio of 14.3x. Average trailing P/E is 7x in the Metals and Mining industry in Hong Kong. Total loss to shareholders of 29% over the past three years. Valuation Update With 7 Day Price Move • May 10
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to HK$1.70, the stock trades at a trailing P/E ratio of 20.4x. Average trailing P/E is 8x in the Metals and Mining industry in Hong Kong. Total loss to shareholders of 2.3% over the past three years. Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment improves as stock rises 49% After last week's 49% share price gain to HK$1.34, the stock trades at a trailing P/E ratio of 16.2x. Average trailing P/E is 8x in the Metals and Mining industry in Hong Kong. Total loss to shareholders of 33% over the past three years. Valuation Update With 7 Day Price Move • Mar 20
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to HK$1.15, the stock trades at a trailing P/E ratio of 13.9x. Average trailing P/E is 7x in the Metals and Mining industry in Hong Kong. Total loss to shareholders of 37% over the past three years. Reported Earnings • Mar 11
Full year 2022 earnings released: EPS: AU$0.016 (vs AU$0.002 in FY 2021) Full year 2022 results: EPS: AU$0.016 (up from AU$0.002 in FY 2021). Revenue: AU$52.5m (up 5.0% from FY 2021). Net income: AU$2.49m (up AU$2.20m from FY 2021). Profit margin: 4.7% (up from 0.6% in FY 2021). Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Feb 06
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to HK$1.14, the stock trades at a trailing P/E ratio of 8x. Average trailing P/E is 8x in the Metals and Mining industry in Hong Kong. Total loss to shareholders of 34% over the past three years. Valuation Update With 7 Day Price Move • Jan 14
Investor sentiment improved over the past week After last week's 24% share price gain to HK$1.05, the stock trades at a trailing P/E ratio of 7.3x. Average trailing P/E is 7x in the Metals and Mining industry in Hong Kong. Total loss to shareholders of 38% over the past three years. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 2 highly experienced directors. Non-Executive Director Lai Lam was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Aug 19
First half 2022 earnings released: EPS: AU$0.023 (vs AU$0.002 loss in 1H 2021) First half 2022 results: EPS: AU$0.023 (up from AU$0.002 loss in 1H 2021). Revenue: AU$24.4m (down 4.6% from 1H 2021). Net income: AU$3.62m (up AU$3.89m from 1H 2021). Profit margin: 15% (up from net loss in 1H 2021). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has fallen by 26% per year, which means it is performing significantly worse than earnings. Board Change • Aug 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 2 highly experienced directors. Non-Executive Director Lai Lam was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Apr 07
Dragon Mining Limited Announces Update on Exploration Activities in Southern Finland Dragon Mining Limited has received the results for the final two diamond core drilling campaigns that were completed in 2021 at the Jokisivu Gold Mine ("Jokisivu") in southern Finland. Results were received for a 7 hole, 1,185.00 metre campaign that was directed at the Kujankallio Main Zone from the 560m level ("Campaign 5") and a 9 hole, 2,151.80 metre campaign that targeted the Arpola area between the 300m and 350m levels from drill stations located on the 350m level ("Campaign 6"). Results for the earlier campaigns of drilling completed at Jokisivu during 2021 were reported to the Stock Exchange of Hong Kong Limited ("HKEX") on the 29 June 2021 Drilling Returns Encouraging Intercepts from the Company's Key Nordic Projects and 24 August 2021 High Grade Intercepts Returned from Drilling at Jokisivu. Campaigns 5 and 6 have generated a series of results that align well with Company expectations, identifying and better defining the extent and geometry of depth extensions to the known gold mineralisation at Jokisivu. Drilling of the reported campaigns was carried out by local contractor Taratest Oy using an Epiroc U6 Smart drill rig running a BQTK system to generate a 40.7mm diameter core. Following core logging, full core samples of select zones were analysed at the certified international laboratory group ALS, with sample preparation carried out at their Outokumpu facility in eastern Finland. Analysis for gold was undertaken at the ALS facility at Rosia Montana in Romania using method Au-AA25 30g fire assay with AAS finish. Samples yielding a gold value exceeding 5 g/t gold were re-assayed by Au-GRA21 30g fire assay with gravimetric finish. Drilling is now continuing at Jokisivu with results pending for a 5 hole, 975.00 metre campaign that targeted the Arpola area between the 400m and 450m levels from the 350m level. On completion of this campaign, the drill rig moved to the 205m level where it is undertaking a 30 hole, 5,500 metre campaign that is targeting the Osmo Zone in the Arpola area between the 250m and 300m levels, the Arpola Footwall Zones between the 250m and 300m levels, and the Arpola Flying Squirrel Zone between the 230m and 300m levels. Uunimäki Gold Project: Dragon Mining was advised by the Finnish Safety and Chemicals Agency ("Tukes") that the Uunimäki Exploration Licence was granted on the 11 January 2022. This decision by Tukes has subsequently been appealed to the Administrative Court in Finland, delaying the start-up of field exploration activities in this area. The Uunimäki Gold Project (" Uunimäki ") is an advanced gold exploration opportunity located to the south-southeast of Jokisivu. The project area has previously been subjected to diamond core drilling and other exploratory activities including ground geophysical surveys and geochemical till surveys by the Geological Survey of Finland (the "GTK") identifying a zone of gold mineralisation within a sheared metamorphosed gabbro over a 350 metre strike length. Reported Earnings • Mar 10
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: AU$0.002 (down from AU$0.073 in FY 2020). Revenue: AU$50.0m (down 28% from FY 2020). Net income: AU$292.0k (down 97% from FY 2020). Profit margin: 0.6% (down from 15% in FY 2020). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • Feb 26
Dragon Mining Limited to Report Fiscal Year 2021 Results on Mar 09, 2022 Dragon Mining Limited announced that they will report fiscal year 2021 results on Mar 09, 2022 Announcement • Feb 09
Dragon Mining Limited Provides Group Earning Guidance for the Year Ended 31 December 2021 Dragon Mining Limited provided earning guidance for the year ended 31 December 2021. It is expected that the Group will record a net profit after tax for the year ended 31 December 2021 ranging between approximately AUD 0.1 and AUD 0.5 million, as compared to the net profit after tax of AUD 10.2 million for the year ended 31 December 2020 The expected net profit after tax for the Reporting Period is primarily due to the factors as follows: the Group's Finnish operations incurring a AUD 3.7 million income tax expense after having utilised all of its carry forward tax losses. the Corresponding Period includes gold produced from higher grade test-mining ore tonnes at Fäboliden from May to September 2020; and lower average mined ore grade as a result of Vammala processing only ore tonnes mined from the Jokisivu mine upon completion of open pit mining at Kaapelinkulma in April 2021 and exhausting the remaining stockpiles of Orivesi ore. Valuation Update With 7 Day Price Move • Dec 03
Investor sentiment improved over the past week After last week's 17% share price gain to HK$1.75, the stock trades at a trailing P/E ratio of 13.7x. Average trailing P/E is 6x in the Metals and Mining industry in Hong Kong. Total returns to shareholders of 29% over the past three years. Recent Insider Transactions • Nov 04
CEO, President & Executive Director recently sold HK$121k worth of stock On the 27th of October, Brett Smith sold around 85k shares on-market at roughly HK$1.43 per share. This was the largest sale by an insider in the last 3 months. Brett has been a seller over the last 12 months, reducing personal holdings by HK$146k. Reported Earnings • Sep 26
First half 2021 earnings released: AU$0.002 loss per share (vs AU$0.045 profit in 1H 2020) The company reported a poor first half result with weaker earnings, revenues and control over costs. First half 2021 results: Revenue: AU$25.6m (down 29% from 1H 2020). Net loss: AU$266.0k (down 104% from profit in 1H 2020). Announcement • Sep 01
Dragon Mining Ordinary Shares to Be Deleted from Other OTC Dragon Mining NL Ordinary Shares will be deleted from other OTC effective from August 31, 2021, due to Inactive Security. Announcement • Aug 25
Dragon Mining Limited Receives Final Results for Further Underground Diamond Core Drilling Campaigns Completed at the Jokisivu Gold Mine Dragon Mining has received final results for further underground diamond core drilling campaigns that were completed at the Jokisivu Gold Mine ("Jokisivu") in southern Finland between 1 January 2021 and 31 May 2021 (the "Period"). Results have been received for 21 holes, representing holes from two separate campaigns that targeted the Kujankallio lodes at Jokisivu. The results include the high-grade intercept highlight of 4.85 metres 44.31 g/t gold, part of which incorporated a zone of 2.75 metres 77.06 g/t gold. Results for the initial two campaigns of drilling at Jokisivu for 2021 were reported to The Stock Exchange of Hong Kong Limited ("HKEX") on the 29 June 2021 - Drilling Returns Encouraging Intercepts from the Company's Key Nordic Projects. Results were received for the third campaign of drilling for 2021 at Jokisivu, a 16 hole campaign that targeted the Kujankallio Main Zone and Kujankallio Hinge Zone from the 560m and 570m levels ("Campaign 3"). This campaign returned a number of significant intercepts above 1 g/t gold, including: 2.00 metres 10.45 g/t gold from 82.00 metres in HU/JS-1156; 9.55 metres 2.48 g/t gold from 140.15 metres in HU/JS-1157; 3.90 metres 5.74 g/t gold from 115.00 metres in HU/JS-1159; 6.10 metres 4.14 g/t gold from 171.30 metres in HU/JS-1163; and 4.85 metres 44.31 g/t gold from 198.00 metres in HU/JS-1164. Results have also been received for the fourth campaign (" Campaign 4 ") of drilling undertaken at Jokisivu in 2021. The 6 hole campaign targeted the Kujankallio Hinge Zone from the 570m level, returning a series of significant intercepts above 1 g/t gold including: 4.10 metres 5.37 g/t gold from 71.50 metres in HU/JS-1171; 1.00 metre 27.60 g/t gold from 67.10 metres in HU/JS1172; and 7.25 metres 3.51 g/t gold from 75.85 metres in HU/JS-1173. Final results still remain pending for the fifth campaign (" Campaign 5 ") of drilling completed during the Period at Jokisivu, a 7 hole campaign that targeted the extensions of the Kujankallio Main Zone. Drilling has now resumed at Jokisivu after the northern summer break, with drilling commencing on a 9 hole campaign that is targeting the extensions of mineralisation in the Arpola area from the 350m level. The Jokisivu Gold Mine is located 40 kilometres southwest of the Vammala Plant. The Jokisivu deposit represents a structurally controlled orogenic gold system located within the Palaeoproterozoic Vammala Migmatite Belt. Gold mineralisation is hosted within relatively undeformed and unaltered diorite, in 1 to 5 metre wide shear zones that are characterised by laminated, pinching and swelling quartz veins. Mineralisation in the Kujankallio area has been shown by drilling to extend over a 620 metre vertical extent from surface, whilst mineralisation in the Arpola area extends over a 300 metre vertical extent from surface. The deposit remains open with depth and partially along strike. Open cut mining in the Kujankallio area commenced in 2009 and underground production in 2011. A small open pit was mined in the Arpola area in 2011 and underground production commenced from this area in 2014. Underground development has now extended at Jokisivu down to the 560m level, with 2.2 million tonnes grading 3.0 g/t gold being mined from the open-pit and underground operations by the 30 June 2021. Reported Earnings • Aug 22
First half 2021 earnings released: AU$0.002 loss per share (vs AU$0.045 profit in 1H 2020) The company reported a poor first half result with weaker earnings, revenues and control over costs. First half 2021 results: Revenue: AU$25.6m (down 29% from 1H 2020). Net loss: AU$266.0k (down 104% from profit in 1H 2020). Executive Departure • Jul 13
Joint Company Secretary Tai On Lo has left the company On the 1st of July, Tai On Lo's tenure as Joint Company Secretary ended after 2.7 years in the role. We don't have any record of a personal shareholding under Tai On's name. Tai On is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 7.17 years. Announcement • Jun 30
Dragon Mining Limited Announces Drilling Returns Encouraging Intercepts from the Company Key Nordic Projects Dragon Mining Limited informed the shareholders of the company and potential investors of recent activities. Dragon Mining has continued to advance exploration in the Nordic region with 65 diamond core holes drilled from both underground and surface drill stations for 7,829.80 metres between 1 January 2021 and 31 May 2021. These holes represent a series of completed and active drilling campaigns at the Jokisivu Gold Mine ("Jokisivu") and Orivesi Gold Mine ("Orivesi") in southern Finland and the Fäboliden Gold Mine ("Fäboliden") in northern Sweden. No drilling was undertaken at the Kaapelinkulma Gold Mine ("Kaapelinkulma") in southern Finland during the period. During the period analytical results were received for 81 holes, including those from two campaigns completed at Jokisivu during the period and results for two campaigns that were drilled at Jokisivu prior to the period, a campaign of drilling completed at Kaapelinkulma prior to the period and the campaign of drilling completed at Fäboliden. Final results for the drilling campaign undertaken at Orivesi remain pending at the end of the period. The results have generated a series of significant intercepts from Jokisivu and Fäboliden that align well with expectations, further defining the extent and geometry of the targeted mineralised zones. The results from Kaapelinkulma were lower than expectations. Highlight intercepts received during the period from Jokisivu and Fäboliden include: Jokisivu Gold Mine: 1.00 metre @ 32.90 g/t gold from 64.00 metres in HU/JS-1111; 9.30 metres @ 21.30 g/t gold from 29.70 metres in HU/JS-1127; 2.90 metres @ 28.65 g/t gold from 31.90 metres in HU/JS-1129; 4.10 metres @ 14.61 g/t gold from 30.00 metres in HU/JS-1132; 1.00 metre @ 46.10 g/t gold from 45.80 metres in HU/JS-1132; and 2.40 metres @ 16.54 g/t gold from 105 metres in HU/JS-1138. Fäboliden Gold Mine: 1.00 metre @ 35.20 g/t gold from 73.00 metres in FB20007; 6.00 metres @ 21.07 g/t gold from 6.00 metres in FB20009; 26.00 metres @ 2.46 g/t gold from 26.00 metres in FB20010;
10.00 metres @ 3.38 g/t gold from 63.00 metres in FB20011; 14.00 metres @ 2.19 g/t gold from 15.00 metres in FB20015; 12.00 metres @ 3.78 g/t gold from 50.00 metres in FB20015; 23.00 metres @ 2.19 g/t gold from 70.00 metres in FB20016; 16.00 metres @ 2.34 g/t gold from 109.00 metres in FB20017; 1.00 metre @ 64.00 g/t gold from 138.00 metres in FB20017; 15.00 metres @ 2.56 g/t gold from 130.00 metres in FB20018; 7.00 metres @ 4.39 g/t gold from 26.00 metres in FB20020; and 9.00 metres @ 5.83 g/t gold from 51.00 metres in FB20029. Jokisivu Gold Mine: During the period the Company completed 39 underground diamond core drill holes directed at the Kujankallio Main Zone and Kujankallio Hinge Zone for an advance of 5,781.90 metres. These holes represent part of, five completed or still active campaigns that were designed to provide additional information to support future mine planning and development in the Kujankallio area. Results were received during the period for two campaigns completed in 2020, a 12 hole
campaign that targeted the Arpola Footwall Zone from the 205m level, spanning from the flying squirrel area to, and including the Osmo Zone. The second campaign represented a 12 hole campaign that targeted the Arpola Footwall Zone in the flying squirrel area between the 100m and 145m levels. These campaigns returned a series of significant intercepts greater than 1 g/t gold including 2.10 metres @ 13.63 g/t gold, 1.00 metre @ 32.90 g/t gold, 4.20 metres @ 4.89 g/t gold, 7.75 metres @ 2.62 g/t gold, 4.00 metres @ 5.84 g/t gold, and 2.90 metres @ 9.48 g/t gold from Campaign 9 and from Campaign 10, 9.30 metres @ 21.31 g/t gold, 2.90 metres @ 28.65 g/t gold, 4.50 metres @ 5.01 g/t gold, 4.10 metres @ 14.61 g/t gold, and 1.00 metre @ 46.10 g/t gold. During the period results were received for the initial drilling campaign of 2021 that targeted the Kujankallio Hinge Zone below the 560m level. The 10 hole campaign yielded a series of significant intercepts greater than 1 g/t gold including 3.55 metres @ 6.34 g/t gold, 2.40 metres @ 16.54 g/t gold and 2.60 metres @ 7.86 g/t gold. Results have also been received for the second campaign of drilling undertaken at Jokisivu in 2021. The 7 hole campaign targeted the Kujankallio Main Zone below the 560m level, returning a series of significant intercepts above 1 g/t gold including a best intercept of 9.05 metres @ 2.99 g/t gold. Final results remain pending for the three other campaigns completed or still active at
Jokisivu. The third campaign is a 16 hole campaign directed at both the Kujankallio Main Zone and Kujankallio Hinge Zone below the 560m level, the fourth campaign is a 6 hole campaign targeting the Kujankallio Hinge Zone and the fifth campaign of drilling is a 7 hole campaign targeting the extensions of the Kujankallio Main Zone. Kaapelinkulma Gold Mine: During the period, the company received the results for the 8 hole, diamond core campaign that was drilled at Kaapelinkulma during November and December 2020. The campaign was directed at the down plunge extensions of the Southern and Northern gold deposits at Kaapelinkulma and the lateral extensions of the recently identified lower diorite unit that is located approximately 200 metres below the Southern deposit. Results from the campaign were lower than expectations, with a best intercept of 0.80 metres @ 11.65 g/t gold received. Orivesi Gold Mine: The company completed drilling at the site of the former Orivesi Gold Mine ("Orivesi") during the period. The 15 hole reconnaissance diamond core drilling campaign targeted an area of geochemical anomalism at the western end of the Orivesi Mining Concession and a zone of geophysical anomalism at the eastern end of the Orivesi Mining Concession. At the end of the period final results for the drilling campaign were still pending. Announcement • May 26
Dragon Mining Limited Provides Earnings Guidance for the First Four Months of 2021 Dragon Mining Limited provided earnings guidance for the first four months of 2021. The board of directors of the company inform the shareholders of the company and potential investors that, preliminary unaudited management accounts indicate that the company has made a small overall net loss in the amount of approximately AUD 820,000 for the first four months of 2021 compared with a modest profit of AUD 4.408 million for the corresponding four months of 2020. The expected result for the Reporting Period is primarily due to: a decrease in the quantity of gold concentrate produced at the Vammala Production center due to throughput restraints of the crushing and milling circuit and lower mined ore grades; the Corresponding Period includes gold produced from the remaining Orivesi high-grade ore stockpiles; and Fäboliden test mining completed. However, the final environmental permit for the mine has not yet been granted and Svartliden is only treating Finland concentrate. Reported Earnings • Mar 18
Full year 2020 earnings released: EPS AU$0.073 (vs AU$0.045 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: AU$69.3m (up 31% from FY 2019). Net income: AU$10.2m (up 62% from FY 2019). Profit margin: 15% (up from 12% in FY 2019). The increase in margin was driven by higher revenue. Production and reserves: Gold Production: 43.389 troy koz (46.935 troy koz in FY 2019) Number of mines: 4 (4 in FY 2019)