Next 1.5 months will be GREAT!!?? Huh.February came and went and was pretty much a dud - no news aside from Q4 & YE financials. Very disappointing. I figured shareholders would get some update on progress made between the release of Q4 and Q1 yesterday, but no cigar. At least shareholders were able to review the Yantai Mill construction agreement from a funding and accounting approach - and I sure do like their approach:
-Stepped acquisition accounting
-Partners pay for mill up front, Majestic uses it as collateral in loans and pays back partners, or a combo of that and payment from proceeds of the sale of gold. Very smart and mitigates risk without dilution at lower share prices.
Another positive in February is that we continued to trend in the .20's. Since Jan 17th, 26.9 million shares have traded above .20 cents. Nice base built, with TD a heavy seller and Instinet a big buyer.
Since no news was released in Feb, I figured I'd post what we shareholders know is going on, but haven't been updated on:
1) Drilling results. Still waiting on info - mentioned in the Nov 18th Interview. Have they ramped up exploration? Will resources be increased? Sure would love that update in the "short term" as Rod put it four months ago.
2) Chinese Engineering report and licensing for expansion that results from the engineering report. This was supposed to be done in the first calendar quarter, so March would be the month. It would be nice to hear about the current status, for sure. This also is a precurser to Pre-Feasibility... so, we continue to wait...
3) Loan/Finacning agreement. Again, I've read on German boards and Interviews that this is expected in the first calendar quarter of 2011 - so end of March again...
4) Completion of and start up of mill. Completion was slated for April or "Spring" 2011, so, I would not expect this to be done yet (tri-stock). Usually, with new mills, production is started slowly and ramped up - I see no reason to think this would be any different.
5) TSX/HK listing? Who knows where this stands...
6) Q2 financials - due out at the end of May. Hopefully we have answers to the above by then (but who the heck knows). I've come to the conclusion that any time-line Majestic gives, add two months or more before they make it public. That said, what is important to me is that they make continued progress and deliver on their items. I know big projects. I know the delays that occur with them. Been there, done that, and understand. But, keep damn investors informed along the way...
Continuing to hold as Majestic moves closer to substantial milestones... but would like to be kept more informed by the company (as has been the case for 18 months).
Just my 2 cents...
B