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Majestic Gold ( (TSE:MJS) ) has provided an update.
Majestic Gold’s subsidiary, Persistence Resources Group Ltd., has announced a private placement financing on the Hong Kong Stock Exchange, aiming to raise up to HK$472 million. The proceeds will be used for potential gold mine acquisitions, business expansion, and general corporate purposes. This financing will reduce Majestic’s ownership in Persistence from 70.5% to approximately 58.8%, pending regulatory approvals.
Spark’s Take on TSE:MJS Stock
According to Spark, TipRanks’ AI Analyst, TSE:MJS is a Outperform.
Majestic Gold’s overall stock score is driven by its strong financial performance and positive technical indicators. The company’s solid revenue growth and operational efficiency are key strengths, though declining net profit margins and free cash flow growth present risks. The stock’s reasonable valuation further supports its attractiveness, despite the lack of a dividend yield.
To see Spark’s full report on TSE:MJS stock, click here.
More about Majestic Gold
Majestic Gold Corp., based in British Columbia, is a low-cost junior gold producer engaged in commercial gold production at the Songjiagou Gold Mine in eastern Shandong Province, China.
Average Trading Volume: 1,018,294
Technical Sentiment Signal: Buy
Current Market Cap: C$166.8M
See more data about MJS stock on TipRanks’ Stock Analysis page.