Dragon Mining (01712) announced that on September 8, 2025 (after Hong Kong Stock Exchange trading hours), the company entered into a placement agreement with a placement agent. Under the agreement, the placement agent has conditionally agreed to act as the company's placement agent on a best efforts basis to procure not less than six placees to subscribe for up to 31,619,322 placement shares at a placement price of HK$5.61 per share, representing a discount of approximately 19.86% to the closing price of HK$7.0 per share on the last trading day on the Hong Kong Stock Exchange.

Assuming all placement shares are fully placed, the total gross proceeds from the placement will be approximately HK$177.4 million, with net proceeds of approximately HK$172.8 million. The proceeds will be allocated as follows: approximately HK$110.7 million for acquiring mining contractor business; approximately HK$37.5 million for settling environmental bonds; approximately HK$17.4 million for upgrading facilities and equipment at processing plants in Finland and Sweden; and approximately HK$7.2 million for mining development costs at Svartliden.