Re: Silver Dragon Resources
in response to
by
posted on
Dec 30, 2009 06:10PM
Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America
Yes they definitely would have to change the name and you never know stranger things have happened. From what I have read Silver Dragon own 40% of Sanhe Sino-Top Resources & Technologies, Ltd. which is from China.
Also interesting was this release that just came out Dec 23. Seems an abrupt change of plans came about and they don't elaborate on their plans:
Silver Dragon Terminates Equity Transfer Agreement to Sell Erbahuo MineBEIJING, December 23, 2009 (PRIME NEWSWIRE) -- Silver Dragon Resources Inc. (OTCBB: SDRG) announces that it has terminated the previously announced definitive agreement to sell its 70% equity interest in the Erbahuo polymetallic project in China and its 70 % ownership in the Chinese subsidiary, Chifeng Silver Dragon Resources & Technologies, Ltd., to a private Chinese investor. Silver Dragon will pursue and implement an alternative strategic plan.
Under the original signed definitive agreement the Chinese investor committed to pay Silver Dragon a deposit of RMB1.8 million, or ~US$260,000 within three business days after signing the definitive agreement, with the balance of RMB 4.2 million, or US$622,000 due upon Chinese Ministry of Commerce approval.
Silver Dragon will not sell the Erbahuo silver mine and will instead implement an alternative strategic plan which includes a 2010 listing on a major Canadian stock exchange.