Dragon Energy Limited (“Dragon”) was incorporated in June 2006 and in February 2009 was admitted to the Official List of ASX. The Company’s listing on the ASX was facilitated by cornerstone investor the China-based Shandong Taishan Sunlight Group Company Limited (“Shandong Group”), which controls 1.5 billion tonnes of coal and 100 million tonnes of iron ore resources in China as well as engaging (in a lesser capacity) in steel making and power generation. It has also facilitated many large commercial mining transactions in the Chinese resources sector.
Shandong Group is essentially a private enterprise and provides Dragon with direct and indirect financial capacity, wide industry connections, and mining know how, to underpin Dragon’s growth and pursuit of mineral projects.
Dragon has evaluated numerous projects worldwide, mostly in bulk commodities, coal and iron ore. By June 2010, Dragon has applied for and acquired 12 iron ore tenements in Western Australia totalling 1,193km2 and has an 85% Joint-Venture interest in 13 coal tenements in Queensland totalling 4,558km2.
Dragon’s short to medium term focus is to aggressively explore these tenements to ascertain prospectivity and to upgrade known resources. Dragon has the advantages of ready funding capacity and a preparedness to pursuit projects with a long term outlook.
At the same time Dragon will continue to review new opportunities despite the volatility in the financial markets, in the industry and in the political domain.
