Chinese Exchange Rate RecoveringIn the first 9 months of 2022, the rapid rise in the USD relative to the renminbi resulted in Majestic losing $8.4 million US when converting Reminbi to USD.
Since October 2022, the exchange rate has been recovering in China's favor and is forecast to recover all lost ground in the first half of 2023.
That being the case......see link below..we shall recover all of the currency exchange losses todate ( $8.4 million US= $11.3 million in CAD ) which will add over $0.01 per share to our cash position which makes a regular dividend much more attractive
https://www.exchangerates.org.uk/CNY-USD-exchange-rate-history.html