Welcome to Dragon Mountain Gold
Dragon Mountain Gold Limited ("DMG" or "the Company") is a public company registered in Perth, Western Australia which has primarily been operating in China since its incorporation in September 2004. DMG listed on the ASX on 31 July 2007
Until recently the Company’s most advanced project was the Lixian Project in central China which hosted significant Chinese classified resources and JORC compliant Indicated and Inferred Mineral Resource in the Gansu province. Development of the project saw the total JORC Inferred and Indicated Resources at Lixian rise to 4.3Moz in July 2011.
On 7 November 2011 an offer was received from Ding Jin Limited, a wholly-owned subsidiary of Zijin Mining Group Co. Ltd, by Directors of Warrior Advance Pty Ltd (“Warrior”), a majority owned Subsidiary of DMG to purchase 100% of Long Province Resources Limited (“LPR”). LPR was a wholly owned subsidiary of Warrior and the holder of the Lixian Project.
On 30 December 2011 the Directors of DMG announced that the sale by Warrior of 100% of the issued share capital in LPR to Zijin was completed. DMG’s share of the proceeds from the sale (including debt repayment) was $151 million.
On 20 July 2012 the Company returned the majority of the proceeds from the sale to shareholders by way of a dividend and return of capital totalling $150 million.
In an announcement to Shareholders on 9 July 2012, the Chairman made the following comment;
“My fellow board members and I wish to thank shareholders of the Company for their continued support, which has enabled us to deliver this excellent result for all shareholders.”
In the meantime, DMG continues to maintain the Xinjiang Pan Pacific Mining Co. Ltd (“XPPM”) licenses held at Urumqi in North Eastern China.
The Company has a highly skilled and experienced Board and management team in, project evaluation and development.
Directors continue to actively review potential new projects suitable for acquisition and development by DMG.
Dragon Mountain Gold Limited welcomes your interest in our company.