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The part that gets me the most is the little grin at the end

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Background Pony Number 17
My Little Pony - 1992 Edition

@monolyth  
Crackpot dragon theory: Crystals and gemstones in Equestria are organic, growing in the earth like living things. They do this by concentrating ambient magic flowing through the earth. Where such magic concentrations occur, they transform base rock into precious crystal and gemstone.
 
Dragons have a sort of magical digestive system that allows them to release and absorb the magical energy trapped in crystals and gems. The material reverts back to base rock, which is eliminated as waste. Since dragons are known to have extremely high internal body temperatures due to that whole breathing fire and swimming in lava thing, such waste would be baked solid. In other words, dragons shit bricks.