Majestic Completes Swap of Equity for Net Profits Interest
Published : July 29, 2013
( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   China | Gold | Gold Mine | Market | Recovery | Water |

VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 29, 2013) - Majestic Gold Corp. (News - Market indicators) ("Majestic" or the "Company") is pleased to announce completion of the exchange provided for in the agreement (the "Exchange Agreement") with Yantai Dahedong Processing Co. Ltd. ("Dahedong") announced on June 27, 2013. As a result, Dahedong now holds a 25% equity stake in the Company's Chinese subsidiary, Yantai Zhongjia Mining Co. Ltd. ("Zhongjia"), in place of the 25% net profits interest granted to it in 2010.

Zhongjia owns the Song Jiagou open pit gold mine (the "Mine") near the City of Yantai, in Shandong Province, China. Majestic indirectly owns a 72% interest in Zhongjia through its 96% interest in Majestic Yantai Gold Ltd. ("Majestic Yantai"), which now owns a 75% interest in Zhongjia. Dahedong's acquisition of the other 25% of Zhongjia effectively means that it has a 25% working interest in Zhongjia in place of an entitlement to 25% of Mine profits. As a result, Dahedong is now obligated to contribute 25% of capital and other expenses for expansion and improvement of the three mills and related facilities which service the Mine, as well as other capital expenses associated with mining operations. Zhongjia will continue to have the use of Dahedong's mining assets at no cost to Zhongjia, including various land use contracts with the Chinese government for the operation of processing mills and disposal of tailings, water rights, two mills with processing capacities of 200 and 1,200 tonnes per day respectively, and related buildings and other mining facilities, machinery and equipment. The Exchange Agreement was accepted for filing by the TSX Venture Exchange on July 25, 2013.

On Behalf of the Board of Directors

MAJESTIC GOLD CORP.

Rod Husband, P.Geo, President

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.



Majestic Gold Corp.
Investor Relations
(604) 681-4653 or 1-866-282-8398
info@majesticgold.net
www.majesticgold.net
Data and Statistics for these countries : China | All
Gold and Silver Prices for these countries : China | All

Majestic Gold Corp.

DEVELOPMENT STAGE
CODE : MJS.V
ISIN : CA5609121077
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Majestic Gold is a gold exploration company based in Canada.

Majestic Gold holds various exploration projects in China.

Its main asset in development is SONG JIAGOU in China and its main exploration property is SAWAYAERDUN in China.

Majestic Gold is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 41.1 millions as of today (US$ 32.8 millions, € 28.8 millions).

Its stock quote reached its highest recent level on March 14, 1997 at CA$ 2.00, and its lowest recent point on September 04, 2009 at CA$ 0.02.

Majestic Gold has 912 270 016 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Annual reports of Majestic Gold Corp.
2008 Annual report
Nominations of Majestic Gold Corp.
10/29/2013Appoints New Directors, Adopts Advance Notice Policy
3/12/2013Appoints New Chief Financial Officer and Director
12/23/2009Appoints Vice President Development and Exploration
12/22/2009Appoints New Director
9/19/2008APPOINTS DAN PISENTI TO BOARD OF DIRECTORS
11/1/2007 APPOINTS MINE GEOLOGIST & GENERAL MANAGER FOR SONG JIAGOU
Project news of Majestic Gold Corp.
1/20/2011(Song Jiagou)Wardrop Delivers Positive Preliminary Assessment for Songjia...
4/15/2010(Song Jiagou)Provides Update on Song Jiagou Property
9/5/2008(Song Jiagou)ANNOUNCES SIGNIFICANT TRENCH RESULTS AT SONG JIAGOU
1/10/2008(Sawayaerdun) ENGAGES FIRM FOR TECHNICAL REPORT AND BEGINS YEAR ROUND ACC...
1/3/2008(Sawayaerdun) ANNOUNCES HIGH GRADE SAMPLE AT SAWAYAERDUN
10/4/2007(Song Jiagou)Outlines 2007 Program For Song Jiaguo
Corporate news of Majestic Gold Corp.
1/29/2016Majestic Gold Corp. Reports 2015 Annual Results And Option G...
1/27/2016Majestic Gold Corp. Files Amended Technical Report
12/22/2015Majestic Gold Corp. Clarifies Disclosure Following Bcsc Revi...
8/28/2015Majestic Gold Corp. Reports 2015 Third Quarter Results
8/13/2015Shareholder Update
8/21/2013(Song Jiagou)Files NI43-101 Report on Updated Preliminary Economic Assess...
7/29/2013Completes Swap of Equity for Net Profits Interest
7/8/2013(Song Jiagou)SRK Delivers Updated Preliminary Economic Assessment for Son...
6/27/2013Announces Agreement to Swap Net Profits Interest for Equity ...
3/28/2013Contracts VantageWire for Marketing and Advertising Services
2/19/2013First Quarter Gold Production
2/1/2013Corporate Update
4/27/2011Provides Update on Mill Construction
4/23/2010Greatly Increases Resources at Its Songjiagou Project
2/25/2010 Announces Agreement to Acquire Remaining 40% of Muping Join...
1/27/2010Announces Resignation of Director and Establishes Board Comm...
11/15/2007 COMMENCES BULK SAMPLING PROGRAM AT SONG JIAGOU
10/18/2007Increases Ounces By 285% TO 1.2 MILLION OUNCES AT SONG JIAGO...
2/16/2007RELEASES UNDERGROUND DRILL RESULTS AT SONG JIAGOU
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (MJS.V)Other OTC (MJGCF)
0.045-10.00%0.037-13.95%
TSX-V
CA$ 0.045
06/24 14:13 -0.010
-10%
Prev close Open
0.050 0.050
Low High
0.045 0.050
Year l/h YTD var.
0.045 -  0.080 -30.77%
52 week l/h 52 week var.
0.045 -  0.080 -25.00%
Volume 1 month var.
113,600 -18.18%
24hGold TrendPower© : 26
Produces
Develops Gold
Explores for Gold
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 4/22/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
2022-30.77%
20210.00%0.070.05
202044.44%0.080.04
2019-35.71%0.090.04
201855.56%0.110.04
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.58+2.71%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.83-4.07%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 0.47-7.33%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.53-10.32%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.02+0.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 3.00+0.00%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 8.71-1.02%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.30+7.14%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.25+4.17%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 1.79-6.28%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 59.37+2.73%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.03+0.00%Trend Power :