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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 Armitage45on May 19, 2024 2:34am
189 Views
Post# 36047714

@auburn

@auburnyes, this doesn't add up... but only for the shareholders, it does for the MGM. It was installed by the Kongs about 10 years ago. MGM has built up a profitable company, but obviously not for stockholders. The Kongs and the guys, who did the PPs (I'm quiet sure they're from the inner Kong circle) at 0.13 and higher, they are happy with the status quo, happy to control the company. If the Kongs want a higher share price, the will get it, with a dividend or whatever. But obviously they have other objectives.
With the new company PRG the MJG MGM is apparently unnecessary, but still in charge. Why? First of all they want to keep their jobs and secondly the Kongs still need these western puppets.
imho the task of the MGM now is to transfer all assets to PRG.
Bottom line for the stock is: there won't be new buyers, except maybe some private high risk ventures via shady stockhouse ads.
So 0,065 is probably the best you can get if you want to get out, anything above it will sold off immediately. 
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