Majestic Announces Agreement to Swap Net Profits Interest for Equity

Gold Investing

Majestic Gold (TSXV:MJS) announced Thursday that it has entered into an agreement with Yantai Dahedong Processing whereby Dahedong will exchange its 25-percent interest in the net profits of its Chinese subsidiary, Yantai Zhongjia Mining, for a 25-percent working interest in Zhongjia.

Majestic Gold (TSXV:MJS) announced Thursday that it has entered into an agreement with Yantai Dahedong Processing whereby Dahedong will exchange its 25-percent interest in the net profits of its Chinese subsidiary, Yantai Zhongjia Mining, for a 25-percent working interest in Zhongjia. Vancouver-based Majestic indirectly owns a 96-percent interest in Zhongjia, which owns the Song Jiagou open-pit gold mine in Shangdong province, China. The mine produced 4,776 ounces of gold in its second quarter, ended March 31.

Click here for the full press release by Majestic Gold (TSXV:MJS)