timelines
- Anual results 2023 should come until 30.04.2024
- mine opimisation plan
- new acquisition gold mines
The allocation of net proceeds by Persistence will be as follows: 55.0% will be allocated to acquisition of gold mining assets, 20.4% towards its mine optimization plan; and 12.6%, 10.0%, and 2.0% for the repayment of existing bank loan guarantees, working capital, and additional exploration activities to upgrade gold reserves, respectively.
stockhouse.com/news/press-releases/2023/...-resources-on-hkex
- new acquisition gold mines
en.persistenceresource.com/upload/...4174ab7d1ac6c0b208ba.pdf pdf page176
By 31 January 2024 (a) Searching/identifying potential acquisition gold mines.
By 29 February 2024 (b) (i) Commence legal, financial and technical due diligence by professional teams on the preferred potential target reviewed by our inhouse technical team; (ii) Commence preliminary due diligence and feasibility study by inhouse technical team on the potential acquisition target. (iii) Commence negotiation with owner of the potential target; and (iv) Establish a new entity in the PRC for the potential sino-foreign joint venture for the acquisition.
By 31 March 2024 (c) (i) Enter into formal definitive agreement with the owner of the potential target; (ii) Apply for the relevant regulatory approvals, including the business licence; (iii) First capital contribution; and (iv) Injection of the mining assets into the newly established sino-foreign joint venture.
By 30 June 2024 (d) (i) Second capital contribution; and (ii) Obtain mining licence by the sino-foreign joint venture. BUSINESS – 166 –
By 30 September 2024 (e) (i) Third capital contribution; and (ii) Commence operation of the mining assets by the sino-foreign joint venture.
- mine opimisation plan
en.persistenceresource.com/upload/...4174ab7d1ac6c0b208ba.pdf pdf page192
"
(...)
Second phase of fourth bench (between the elevation of +81 metres ASL and +93 metres ASL) --- start 1 January 2024 Not yet commenced construction, expected to be completed in June 2024
First phase of fifth bench (between the elevation of +69 metres ASL and +81 metres ASL) --- start 1 July 2023 Commenced construction, expected to be completed in December 2023
Second phase of fifth bench (between the elevation of +69 metres ASL and +81 metres ASL) --- start 1 January 2024 Not yet commenced construction, expected to be completed in June 2024
Sixth bench (between the elevation of +57 metre ASL and +69 metres ASL) --- start 1 April 2024 Not yet commenced construction, expected to be completed in December 2024
First phase of seventh bench (between the elevation of +45 metres ASL and +57 metres ASL) - --- start 1 October 2024 Not yet commenced construction, expected to be completed in December 2024
Second phase of seventh bench (between the elevation of +45 metres ASL and +57 metres ASL) --- start 1 January 2025 Not yet commenced construction, expected to be completed in June 2025
For us MJS investors, it is the most important question how we will benefit from
the IPO of Persistence
from the success of the company in the last 3 years
and from the future activities
When MGM will comunicate?
best
richard
- Anual results 2023 should come until 30.04.2024
- mine opimisation plan
- new acquisition gold mines
The allocation of net proceeds by Persistence will be as follows: 55.0% will be allocated to acquisition of gold mining assets, 20.4% towards its mine optimization plan; and 12.6%, 10.0%, and 2.0% for the repayment of existing bank loan guarantees, working capital, and additional exploration activities to upgrade gold reserves, respectively.
stockhouse.com/news/press-releases/2023/...-resources-on-hkex
- new acquisition gold mines
en.persistenceresource.com/upload/...4174ab7d1ac6c0b208ba.pdf pdf page176
By 31 January 2024 (a) Searching/identifying potential acquisition gold mines.
By 29 February 2024 (b) (i) Commence legal, financial and technical due diligence by professional teams on the preferred potential target reviewed by our inhouse technical team; (ii) Commence preliminary due diligence and feasibility study by inhouse technical team on the potential acquisition target. (iii) Commence negotiation with owner of the potential target; and (iv) Establish a new entity in the PRC for the potential sino-foreign joint venture for the acquisition.
By 31 March 2024 (c) (i) Enter into formal definitive agreement with the owner of the potential target; (ii) Apply for the relevant regulatory approvals, including the business licence; (iii) First capital contribution; and (iv) Injection of the mining assets into the newly established sino-foreign joint venture.
By 30 June 2024 (d) (i) Second capital contribution; and (ii) Obtain mining licence by the sino-foreign joint venture. BUSINESS – 166 –
By 30 September 2024 (e) (i) Third capital contribution; and (ii) Commence operation of the mining assets by the sino-foreign joint venture.
- mine opimisation plan
en.persistenceresource.com/upload/...4174ab7d1ac6c0b208ba.pdf pdf page192
"
(...)
Second phase of fourth bench (between the elevation of +81 metres ASL and +93 metres ASL) --- start 1 January 2024 Not yet commenced construction, expected to be completed in June 2024
First phase of fifth bench (between the elevation of +69 metres ASL and +81 metres ASL) --- start 1 July 2023 Commenced construction, expected to be completed in December 2023
Second phase of fifth bench (between the elevation of +69 metres ASL and +81 metres ASL) --- start 1 January 2024 Not yet commenced construction, expected to be completed in June 2024
Sixth bench (between the elevation of +57 metre ASL and +69 metres ASL) --- start 1 April 2024 Not yet commenced construction, expected to be completed in December 2024
First phase of seventh bench (between the elevation of +45 metres ASL and +57 metres ASL) - --- start 1 October 2024 Not yet commenced construction, expected to be completed in December 2024
Second phase of seventh bench (between the elevation of +45 metres ASL and +57 metres ASL) --- start 1 January 2025 Not yet commenced construction, expected to be completed in June 2025
For us MJS investors, it is the most important question how we will benefit from
the IPO of Persistence
from the success of the company in the last 3 years
and from the future activities
When MGM will comunicate?
best
richard