The Game PlanIt's a mutually acceptable divorce between the Chinese operators and the Canadian owners.
They get to own nearly 50% of Persistence, debt free, along with substantial cash raised by the HK IPO.
Persistence is run and managed by the PRC crew and the Signal management crew exits China owning just over 50% of current Majestic assets in China and free to invest in Western in advanced western assets funded by its cash position along with very rich cash flows from current producing assets with over double production and 50% lower cash costs.
Mine life is about 20 years based on existing defined gold resources and with signifucant exploration upside reinforced with acquired very advanced assets in Shandong every two or three years .
Plus, the minority owner has rights of first refusal to buy our Producing assets, which is also a possible outcome of this process if the HKEX listing fails .
So, waiting and picking away at a few shares every then and now.