Majestic Gold Ji dual listing in Hong KongThis has been translated from Chinese
At 07:33 on March 31, 2011
Site News Finance Hong Kong media reported, in Shandong Province Songjiagou operating gold-mining project Majestic GoldCorporation, except now listed on the Toronto and Frankfurt, its Chief Executive Officer and Director of Korea Round (Rod Husband) interview with this paper that The group is interested in listing in Hong Kong for a double.
Han Round admits, to implement the dual listing, you may need up to nine months, the premise is to find appropriate financing partners. In terms of overseas listing of Chinese companies have gold discount, he believed that the Hong Kong markets, will help narrow the relevant discount, and help it obtain financing space.
To find lower-cost China gold
Majestic is currently about 40-45% shareholder in the capital as people, and another 45% shareholder of European investors. Han Round pointed out that the discovery of gold in China, compared to the cost of similar foreign mining companies to explore in the ground need to lower to its case, to invest approximately $ 20,000,000, will be able to find 300 million ounces of the gold, is expected to change in future worth one billion U.S. dollars into the market of the company.
The company will continue to look after those who are already close to the production phase of the project, the goal is to obtain resources for 50 from 00 thousand to 10 million tons, annual gold production of 250,000 to 500,000 ounces. At the current annual output of more than 10 million ounces of gold projects Songjiagou dollars, back to the time originally set at 1.4 years, but the current prices, this time to have the opportunity to return to less than 1 year.
Majestic in the operation, the equity financing of not more than 25% of the limit level, if a suitable partner, South Korea Round said, do not rule out the equity financing proportion increased to 50%. Accordingly, the company is expected to return to 10 times times the size of an average of 3 to 7 times.