unclear how much cash is left wit MJS
"
As at 31 March 2023, we (Persistance) had cash and cash equivalents of approximately RMB317.4 million (45 Mio US Dollar) for working capital purposes. Hence, our Directors accordingly believe that the our Group will be financially independent from the Controlling Shareholder upon [REDACTED].
"
RELATIONSHIP WITH OUR CONTROLLING SHAREHOLDER
Financial independence
pdf. page 315-316
document page 305-306
https://www1.hkexnews.hk/app/sehk/2023/105403/documents/sehk23052201134.pdf
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On 5 June 2020, the Group signed an agreement with its shareholder, Majestic Gold Corp., to waive the debt due from the Group amounting to CAD62,073,000 (equivalent to RMB322,847,000) and the amount was credited to capital reserve in 2020.
On 25 October 2022, the Group signed an agreement with its shareholder, Majestic Gold Corp., to waive the debt due from the Group amounting to RMB10,770,000 and the amount was credited to capital reserve in 2022.
On 25 October 2022, the Group signed an agreement with its shareholder, Dahedong, to waive the debt due from the Group amounting to RMB36,349,431.83 and the amount was credited to capital reserve in 2022.
"
APPENDIX I
(3) Other transactions with related parties
pdf. page 503
document page I-66
https://www1.hkexnews.hk/app/sehk/2023/105403/documents/sehk23052201134.pdf