SILVER DRAGON RESOURCES INC. (OTCMKTS:SDRG) Files An 8-K Other Events
Item 8.01 Other Events.
Silver Dragon Resources Inc. (the Company) has obtained the KPMG
Advisory (China) Limited (KPMG) independent appraiser valuation
report and the Beijing Shengda Industrial Group Ltd. (the
Purchaser) Price Waterhouse Coopers (PWC) independent appraiser
valuation report to assess the fair market value of the Dadi
mining rights (the Mining Rights) as of March 1, 2017 (the
The valuation results of the Dadi Mining Rights issued by KPMG
and the valuation report issued by PWC are RMB751 Million
(approximately USD$109,967,705) and RMB322.23 Million
(approximately USD$47,183,613), respectively.
Silver Dragon Resources owns a 20% equity interest in China,
Sanhe Sino-Top Resources Technologies, Ltd. (“Sino-Top”) and
subject to execution of an Equity Transfer Agreement with the
Purchaser, completing a change of business registration and
approval by the PRCs Foreign Exchange Administration, the Company
will receive approximately USD$15,714,692 for the transfer of its
20% equity stake in Sino-Top.
Forward Looking Statements
This report contains “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward looking statements are statements that are not historical
facts and are generally, but not always, identified by the words
“expects,” “plans,” “anticipates,” “believes,” “intends,”
“estimates,” “projects,” “aims,” “potential,” “goal,”
“objective,” “prospective,” and similar expressions, or that
events or conditions “will,” “would,” “may,” “can,” “could” or
“should” occur. The Company cautions investors that any
forward-looking statements by the Company are not guarantees of
future results or performance, and that actual results may differ
materially from those in forward looking statements.
Item 9.01 Financial Statements and Exhibits.
Silver Dragon Resources Inc. ExhibitEX-99.1 2 exhibit99-1.htm EXHIBIT 99.1 Silver Dragon Resources Inc. – Exhibit 99.1 – Filed by newsfilecorp.com Silver Dragon Receives Valuation Results of its Chinese Mining Claims TORONTO,…To view the full exhibit click
here About SILVER DRAGON RESOURCES INC. (OTCMKTS:SDRG)
Silver Dragon Resources Inc. is an exploration-stage company. The Company is engaged in the acquisition and exploration of silver and other mineral properties. It focuses on the exploration of various properties located in the Erbahuo Silver District in Northern China (Inner Mongolia), including the Dadi and Laopandao properties, in which the Company has an interest through its equity holdings in Sanhe Sino-Top Resources and Technologies, Ltd. The Company carries out operations in Canada and China. The Dadi silver-polymetallic property (the Dadi Property) is situated in north central Inner Mongolia in the Xilin Gol Administrative District. It has approximately five mineralized zones at the Dada Property. The Dadi Property consists of an area of over 10 square kilometers. The Company’s Laopandao Silver-Tin-Polymetallic Project (the Laopandao Property) is located in north central Inner Mongolia in Keshiketeng County. The Laopandao Property has an area of over 4,480 hectares.