Majestic Gold Corp. MJGCF

Primary Symbol: V.MJS

Metals & Mining Gold

Majestic Gold Corp. is a Canada-based mining company. The Company is engaged in mineral resource exploration, development and extraction. The Company’s Songjiagou Gold Mine covers approximately 75.04 square kilometers in Muping, Yantai, Shandong Province, China. It has four separate tenements, including E36/918, E37/1334, E63/2110 (Kumarl) Tenement and E77/2817 (Moorine) Tenement. These tenements are located in Western Australia, an area with demonstrated potential for the discovery of lithium oxide mineralization. E36/918 tenement has been granted and consists of two blocks located 150 kilometers (km) North of Leonora, about 50 km north of Leinster, along the east side of the Kathleen Valley. E37/1334 tenement has been granted and consists of six blocks located west of Leonora township, 200 km North of Kalgoorlie and 700 km northeast of Perth, in the Goldfields region. E63/2110 (Kumarl) tenement has been granted and is comprised of 10 blocks located 250 km south of Kalgoorlie.

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Majestic Gold Corp.

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Post by Value2020on Nov 23, 2020 7:51am

764 Views

Post# 31950939

Debt Repayments

Mjs should do press releases when they pay off a tranche of debt. Over 5.7 million is already paid down this year.

There 2 payments were due on Novmeber 6 & 13 (4.4 million)

(i) a $2,939,750 (CNY 20,000,000) (December 31, 2019 - $2,870,264) one-year loan bearing an interest at 5.655% per annum and repayable on November 6, 2020. The loan is guaranteed by a third party;
(ii) a $1,469,875 (CNY 10,000,000) (December 31, 2019 - $1,435,132) one-year loan bearing an interest at 6.31% per annum and repayable on November 13, 2020. The loan is guaranteed by certain third parties, including Dahedong;