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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

Post by richard45161on Aug 18, 2023 6:34am
198 Views
Post# 35594343

unclear how much cash is left wit MJS

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
 
"
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
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