RE:RE:RE:Questions about Persitence GroupMajestic owns 94% of persistence and Persitence owns 75% of of the SJ project.
So, MJS owns 70% of the assets .
The operator owns 25% and another small group about /5%.
The IPO equity raise will dillute Persistence shares such that majestic will own just over 50% post IPO.
If successful, the HK listing will be Persistence of which Majestic will own 50+ %.
Persistence funds will be mainly used to acquire advanced or near producing gold deposits.
It will be run by the PRC operators .
Majestic will then become a solely western listed equity with expanded management and seeking to acquire new advanced projects including producing assets.
In the meantime, it will benefit from its 50 + ownership of Persistence.
The SJ open pit mine and its z underground extension ..SJ North... have tremendous development upside which this current expansion of the open pit is just the second.
There is lots of higher grade gold within and below the floor of the current pit that has yet to be mined but probably will this time around.
So, you have expansion going on currently with the existing two mines and Persistence grow by consolidatung by acquisition, other mines gold deposits in the Shandong province of which there are more than 30 gold assets.
Persistence is just one of four signifucant players in the Province which has been given the right to take part in the consolidation of smaller mines into four much larger mines.
So a two pronged growth program...organic via expansion of the current mines and inorganic expansion by acquisition .
Hope this clarifies your confusion.
Recread my IPO price and you will see why my estimate ,based on available documentation has a logical price outcome