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Majestic Gold Corp. V.MJS

Alternate Symbol(s):  MJGCF

Majestic Gold Corp. is engaged in mineral resource exploration, development and extraction. It operates the Songjiagou open pit gold mine in the eastern Chinese province of Shandong. Songjiagou Gold Mine covers over 75.04 square kilometers in Muping, Yantai, Shandong Province, China. It has four separate tenements, including E36/918, E37/1334, E63/2110 (Kumarl) Tenement and E77/2817 (Moorine) Tenement. These tenements are located in Western Australia, an area with demonstrated potential for the discovery of lithium oxide mineralization. E36/918 tenement has been granted and consists of two blocks located 150 kilometers (km) North of Leonora, about 50 kms north of Leinster, along the east side of the Kathleen Valley. E37/1334 tenement has been granted and consists of six blocks located west of Leonora township, 200 kms North of Kalgoorlie and 700 kms northeast of Perth, in the Goldfields region. E77/2817 (Moorine) Tenement consists of eight blocks located 400 kms east of Perth.


TSXV:MJS - Post by User

Comment by richard45161on Mar 29, 2023 6:52am
108 Views
Post# 35366303

RE:listing

RE:listingi understand the advantages of listing and the advantages of not going public. For me, the most important point was and is that a consistent and detailed plan was finally linked to this process, on how the management plans the future of MJS and how the shareholders should finally benefit from the success of the company. Now, this prospect seems to be fading and we are again, completly in the dark.

If HKEX listing fails, i would be another major failour and break of trust of this MGM
- sharebuyback 1 - no shares bought back - no communication
- sharebuyback 2 - only 10% of the possible volume was bought back - no communication
- IPO failure no 1 - no communication
- no communication/ information on how the approval of the shareholders for the listing is to be obtained

The costs of the IPO process was more than 500K last time figures were published. Will see in annual report 2022 how much the process costs till now and how the organisation overhead of having a daughter company will play out.

Despite the golden fundamentals of this company, the MGM is not able to lift the shareprice. This is not normal, this is not acceptable, this is just plain bad management and they should be ashamed. I was in Email contact with CFO James Mackie, and the results were disappointing. He suggested to switch to a personal interview and otherwise shone with cluelessness and simply false statements/understanding. The performance of this management cannot be justified by anything and there is nothing to gloss over. What a disaster.

I think many here can empathize with and understand my disappointment.

In the end, I still believe 100% in the success of this investment and in a reasonable ROI. MJS is expected to achieve excellent earnings in 2023 and cash flow/cash on hand can easily finance growth. Even with this MGM, the fundamentals are too strong and the potential upside is too big to miss out this opportunity. Shame its such an unnecessary pain

best regards to everyone.
I hope you dont need to sell because you urgently need the money somewere else. We are in this mess togehter, i really think it will pay out at the end
Richard






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