RE:Benefits of HKEXHi nozzpack,
adding my thought on this as well. Please consider this as estimates
structure pre IPO
- 100% of the mine/asset is hold by
75% Yantai
25% Dahedong
- 100% of Yantai is hold by Persistance
- 100% of Persistance is hold by
94% Majestic gold
6% Richard somewhat
Through this structure, MJS holds 70,5% of the mine/asset
structure post IPO
- 100% of the mine/asset is hold by
75% Yantai
25% Dahedong
- 100% of Yantai is hold by Persistance
- 100% of Persistance is hold by
25% new shareholders of Persistance on HKEX
70,5% Majestic gold
4,5% Richard
Through this structure, MJS holds 52,87% of the mine/asset
It is planned to collect 80mio US$ for the 25% of shareof Persistance, meaning that Persistance would be valued at 320 Mio US$. This would go into the total assets in the balance sheet of MJS.
My thoughts:
Management of MJS has acknowledged in 2020 already, that the marketcap does not represent the inner value of the company. The IPO and the shareprice of Persistance does not have a direct affect of MJS. It just adds to the balance sheet and when done correctly, to the inner value of the company.
But this is the case since 2 yeas. The MGM has acknowledged it already and had faild in serveral attempts to raise the share price to an appropriate level. We have now reached a level where the MGM is issuing a press release misrepresenting 2 very important points (revenue and average gold price for Q4). So far no efforts to correct it. I really can't understand how the MGM would fall short of even this low bar of professionalism.
With this MGM, with the level of incompetence there, i dont think the inner value/balance sheet will have an positive affect of the shareprice for MJS at all. I would really like it but the last 2 years have shown otherwise.
I my opinion, only the overdue dividend will make us independed of this MGM and will correlate the sahreprice to the fundamentalsof the company. How netincome attributable to MJS shareholders can afford the dividend. Its been 2 lost years with this MGM.
the next stes are so easy:
-pay the dividend
- make a reverse share split 10 to 1
- please MGM, find a hole deep enough and just go there, never come out and just leave me the "f''k alone with my share of the MJS netincome (MNJS share of the assets)
as always, thak you guys for your imput, always happy to be proven wrong
Best
richard