We are waiting on Majestic like ever, and get now information from our company:

- Production Update (promised for mid october, but they forgot to say us the year) :-(

- HKSE Listing (promised since fall 2010)

Why, the hell, it is not possible for MJS to inform their painholders (sorry. Shareholders) about roadmaps and deadlines, like many juniors do it? Its unbelievable....

Regarding HKSE there is a informative pdf about requirements for lsiting:http://www.mcmillan.ca/Files/146924_Final%20-%20Alternative%20Finance%20Conference%20-%20October%204%202012.pdf:

Extracts:

 

HKSE main board general listing 
Requirements
-  Stricter listing requirements than TSX / TSX-V
-  Track Record: 3 Year Financial Performance
- Management continuity: 3 Years
- Ownership continuity:1 Year
 
Für Mining companies the profit, market cap and revenue Tests does not aplly.
requirement public float Test:
- Minimum of 25%
- If market cap ≥ USD1,282 m, public float can be lowered to 15%
- Minimum of 300 shareholders
 
Requirements for mining companies :
professional advisers
- Must appoint a sponsor for listing
- Public offer tranche must be fully underwritten by underwriters (for Dual Listing not affordable)
- Must appoint a compliance adviser for the period from listing date to end of publication of financial results for 1stfull financial
 
financial information requirements
- Historical financial information
- Forecasts (working capital and profit)
o a profit forecast is optional; but a customary requirement for HKSE IPO
o required in HK in order that research analysts can prepare reports in connection with HKSE IPO
o creates potential issues for Canadian issuers governed by Canadian securities laws regarding forward looking information (Part 4A of NI 51-102)
o try to limit profit forecast period
- Indebtedness statement
- Pro forma financial information
- Qualified auditor required
 
new HKSE listing rules for mining companies
- HKSE plan to broaden listed issuer base initiated in 2010
- Minimum requirements:
o  at least “indicated resources”
o 125% working capital for 12 months (watch out for restrictions on pre-IPO Financing!)
o Board of directors and management with 5 years industry experience allows for waiver of financial standards
o clear Pathway to Production
- expect conservative application of new listing rules
 
clear pathway to production
- Path to production supported by at least a scoping study (i.e. preliminary evaluation of economic viability of mineral resources)
- Indicative dates and costs for achievement of commercial production
- HKEx can be expected to focus on plan to achieve production
- Major investment banks may want to see “bankable feasibility study” at a minimum
 
There are 2 posibilities for listing:
1.)listing by initial public offering
- Process lead by HK investment bank as sponsor and underwriter
- Typical listing route—South Gobi and China Gold International
- Ad Advantages:
o funds raised to pay listing costs
o Asian investor base established
- Size:
o larger investment banks: $200 million +
o smaller investment banks: $20 to $50 million +
 
2.) Listing  by introduction
- Simple dual listing of common shares
- Sponsor required by HKEx
- HKEx must be satisfied that market for shares will develop
- Disadvantages:
- no funds raised to fund costs of listing
- no Asian investor base created
 
For my understanding MJS goes the second way. The costs for listing are not so high, in my opinion  5 digits $
 
Time needed to get listed::
listing process for main board average time: 10-12 weeks
- An issuer decides to list on HKEx
- Appointment of sponsors, lawyers, accountants & other professional advisors
- Restructuring, preparation of accountants & other professional advisors
- Sponsor submits listing application & related documents to the Listing Division of HKEx
- Review of listing application by the Listing Division
- Hearing by Listing Committee
- Roadshow to promote to investors before trading commences
 
In this schedule MJS is among the upcomming companies :
A calender shows the next Listings:
 
 
conclusion:
In my opinion MJS has all requirements to be listed. With 197,5 mio new shares in asiatic region there are enough shares to be registrated on HKSE. Don't know why there is so much delay ! Best Regards, Fred