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龙资源有限公司(1712.HK)新股速递

Dragon Resources Co., Ltd. (1712.HK) New Stock Express

致富證券 ·  Oct 18, 2018 00:00  · Researches

A summary of the collection

The collection is mainly in Finland and Sweden for gold exploration, development and processing. Focus on the development of owned and new assets within a reasonable distance between the two production industries. Through (I) the production and production industry of the economic economy, (ii) to develop new projects that meet the objectives of the economic market, such as the Faboliden project, and (iii) to pay attention to enterprises and social responsibilities, in order to increase the value of the stock market and generate sustainable investment. The collection income mainly comes from the sale of gold through a financial institution in London, and mainly from the sale of gold essence to gold essence customers. The budget of the collection can be divided into three categories: (I) production, (ii) production, and (iii) expected production.

Industry summary

According to Frost Sullivan, by the end of 2017, the global gold market has reached 54000 yen, while that of the Central Asian Union is 1170 yen. In addition, Frost Sullivan expects international gold to range from US $1200 to US $1400 per ounce from the first quarter of 2019 to the third quarter of 2020.

Cymbals

The volatility in the gold market may have a significant adverse impact on the profitability and cash flow of the market; in addition, the fund sales of the collection are conducted in US dollars, such as the appreciation of the Australian dollar against the US dollar, the contractual obligations listed in Australian dollars may be significantly adversely affected.

Valuation

According to the IPO documents, assuming that the global development sale was completed on April 30, 2018, the calculation of more than 139 shares expected after the completion of the sale of the shares, the share should account for A $3189 of consolidated tangible assets, equivalent to HK $1.33 per share (at the rate of A $1.00 to HK $5.80 million).

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