More above market financing!All I can say is this; these goldbug and ziggy characters are among the biggest morons I have ever encountered on chat rooms. And, sorry bj, but the fact that you called goldbug intelligent a week ago or so doesn't put you in great stead either.
Press Release Source: Silver Dragon Resources Inc.
Silver Dragon Closes $1.5 Million Above Market Financing
Wednesday December 12, 8:00 am ET
TORONTO, Dec. 12, 2007 (PRIME NEWSWIRE) -- Silver Dragon Resources Inc. (OTC BB:SDRG.OB - News) is pleased to announce that it has closed a private placement consisting of 1,500,000 units (the ``Units'') in the Company at a price of U.S. $1.00 per Unit for gross proceeds of U.S. $1,500,000. Each Unit is comprised of one restricted common share and one common share purchase warrant. One warrant will entitle Unit holders to purchase one additional common share (the ``Warrant Shares'') of the Company at an exercise price of U.S. $1.25 per Warrant Share at any time within two years from the date of closing.
The Company plans to use proceeds from the financing to (i) continue development of the Cerro las Minitas silver mine in Durango, Mexico; (ii) continue the exploration, development and conversion program presently under way at the nine Erbahuo silver properties in China; and (iii) for general corporate purposes.