but still good news that MJS is investing in marketing. I can't judge if 18K for 6 months is a lot/reasonable or a little. But it is something.
There would be enough to report in the coming months. As long as MJS/PRG finally adheres to its own timetable and, as announced, finally does something for its shareholders or communicates a plan.
Timetable
- CFO post: Company update in the coming weeks, sent on January 26, 2024
- Q1 MJS 2023: May 29, 2023
- CFO mail: Company update, which should also contain a decision on a dividend, around mid-June 2024
- Completion of due diligence purchase mine: July 2024
(i) a formal definitive agreement with the owner of the potential target would be entered into;
(ii) relevant regulatory approvals would be applied for, including the business licence;
(iii) first capital contribution conducted; and (iv) mining assets into the newly established sino-foreign joint venture be injected My speculation:
- MJS/PRG will earn very good money this year. (maybe 20 million USD net profit, we will know more with the Q1 figures). We will see how the costs for the purchase of further projects will be offset in the balance sheet.
- MJS/PRG will continue to earn very good money next year and in the future
- MJS will start to share profits with its shareholders this year
- A dividend will be paid this year, as this is the only way the small group with the majority of shares can benefit from this investment
Net profit 20 million USD for the Company group. MJS share 70% = 14 million USD
0.005 USD - price 0.15 USD price per share equals 3.33% dividend yield - P/E ratio 11.5 - costs = 5.225 million USD
0.01 CAD (0.0073 USD) - share price 0.2 USD Price per share corresponds to 3.65% dividend yield - P/E ratio 15.4 - Costs = USD 7.628 million
USD 0.01 - share price USD 0.3 Price per share corresponds to 3.33% dividend yield - P/E ratio 17.7- Costs = 10.45 million USD
Interesting website - gold mining stocks sorted by dividend for comparison / P/E ratio for comparison: https://companiesmarketcap.com/gold-mining/gold-mining-companies-ranked-by-pe-ratio/
I think the growth potential makes a dividend yield of 3.3% and a P/E ratio of around 15 appropriate. The costs can definitely be paid from the expected net profit / net income attributable to shareholders. Not to mention what "we" have paid in "our share of profits" for 10 years. And have only received empty promises in return.
Rocksample shipments - MJS future business venture Lithnium in Australia
en.tradingeconomics.com/commodity/lithium
Like many commodities, lithium has also corrected very sharply. The e-car industry is probably heading for an extremely tough competitive battle. I cannot say whether and in what form lithium production in Australia makes sense from an MJS shareholder perspective.
My preference would be for MJS to do nothing and simply pay out the majority of the profits to its shareholders. Unfortunately, the past has shown that the risk of incompetence, failure to deliver on forecasts and promises outweighs the potential rewards of entering the lithium business.
In the end, as always, it all depends on the small, presumably rich majority of shareholders.
I hope this was helpful for some of you
best regards
Richard
Translated with DeepL.com (free version)