Bullboard - Stock Discussion Forum Majestic Gold Corp. V.MJS

Alternate Symbol(s): MJGCF

Metals & Mining Gold

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... see more

TSXV:MJS - Post Discussion

Majestic Gold Corp. > Question for nozzpack

View:

Post by Value2020 on Nov 19, 2022 1:00pm

Question for nozzpack

HKEX listing explanation...

Majestic currently own 74-76% of the current producing mine in shandong?

We give/sell approximately 25% of our control and get 50 million?

Is the other shareholder who controls 24-26% of the producing mine also selling their stake in this IPO?

Does the projected 50 Million from this capital raise only belong to MJS?

185

Comment

Comment by nozzpack on Nov 19, 2022 2:37pm

MJS owns 94 % of Persistence so MJS will get that proportion of the IPO which will be spent on mine expansion. I doubt that the JV partner owning 25% is freely carried on this major mine expansion. One way or another, they will contribute their proportionate share of total costs ..

Comment

Comment by Value2020 on Nov 19, 2022 3:53pm

Majestic holds its 75% interest in SJG Project through its 94% owned subsidiary Persistence Resources Group Ltd. indirectly. The remaining 25% of SJG Project is held by Yantai Dahedong Processing Co. Ltd.

Comment

Majestic Gold Corp.