RE:ClarificationHI Value,
Sinogold's plan is roughly outlined in the HKEX application. The mine is already one of the largest gold producers in the region. With the extended and especially expanded surface mine license, they want to expand the mine significantly and the money collected through the IPO should be used for this.
If they would go with MJS, they would need to issue new shares as well. but in this case, the reasoning on how MJS would benefit from this is much clearer then with the IPO of the subsidiary.
Why they need this money, when they have +30 mio $ cash and likly +20 mio $ net income each year starting 2022?
Why have they stopped the NCIB 12.2021 and why was only around 10% of the possible 50 mio shares bought back?
I believe Canadian ompany MJS is following its purpose of business of adding value to shareholders. How does MJS want its shareholders to participate in the success of MJS?
I was of the opinion that there are preferred shares (no voting rights) and common shares (voting rights). But I could not find any confirmation of this and now assume that there are only common shares. Does anybody have some information on that?
MJS improved its communication in the last 2 years. But there is still so much room for improvement. maybe we should seriously pursue the approach of pooling voting rights from all shareholders and asking management questions? I know there was initiative on this before - should we seriously proceed with this approach?
best
richard