RE:IPO Price UpdatedHI Nozzpack,
appreciate your input. A thing i didnt really understand:
Majestic owens 94 % of Persistence and Persistence owns 75 % of Yantai Zhongjia Mining Co. Ltd. (which is the mine with all of its assets)
The annual reported net earnings represent the 94% share of MJS of Persistence which represent the 75% share of the whole Mining Operation of Yantai Zhongjia Mining Co. Ltd.
Majestic will continue to own approximately 70.5% of total issued and outstanding Shares of Persistance upon successful listing of the Shares.
Majestic will continue to own approximately 70.5% of total issued and outstanding Shares of Persistence upon successful listing of the Shares.
Future earnings share will be down by 25%, which hopefully gets compensated quickly by inorganic/organic growth.
MJS will still hold the Majority of Persistence and Yantai Zhongjia Mining Co. Ltd.
If Persistance wanna accumulate 80mio US$ with around 25% of Persistance, this would mean a company value of Persistance of 320mio US$. The 70% share from MJS of Persistance is worth around 224 mio US$.
Thanks to the outstanding work of the top management and extensive rock sample shipping, MJS owns other very interesting and valuable assets besides its share in Yantai Zhongjia Mining Co. Ltd..
Other fun fact, MJS statet in his press release regarding the IPO of Sinogold, that "The HKEX listing process is expected to take at least 3 months from the date of the initial application submission and is subject to the HKEX's approval in principal as well as the registration and filing of the final prospectus of Sinogold in Hong Kong. Consequently, there can be no certainty at this stage of the successful completion of the Proposed IPO."
Coomunication from the MGM matters,
communicated sharebuyback and never implement it - it matters
communicated sharebuyback of max 50 Mio shares and only buying back 5 Mio - it matters
stating the listing process is expected to take at least 3 months and then taking a least 21 Months - it matters
Iam sure we will get the overdue dividend anounced with the anual report 2021. Everything else would not make any sense. I am sure the MGM, despite the profound disapointments they are responsible of, will finally consider reality and pay a dividend to the owners of this company. This will not be reconciliation, i would fire each of them regardless, it just will be the overdue step into reality for this company, MGM, investment.
best as always
richard
https://stockhouse.com/news/press-releases/2022/03/30/majestic-announces-listing-application-to-hkex-for-ipo-of-subsidiary-sinogold