Majestic Gold Corp (MJS)

[MisterB]

Majestic Gold in Acquisition Talks?

Check out the chart, and news. Too coincidental to ignore, imo.

http://www.quamnet.com/quote.action?stockCode=340

News below:

Ch Mining provides $82M convertible loan for Majestic Gold 27 Jul 2011
China Mining (00340) in talk on potential gold-mine acq 12 Jul 2011

From the PR's:
July 12:
The board of directors of the Company (the “Board”) wishes to inform the shareholders of the Company that the Company is in discussion with a third party (the “Potential Seller”) independent of and not connected with the Company and its connected persons (within the meaning of the Rules Governing the Listing of Securities on the Stock Exchange (the “Listing Rules”)) regarding a potential acquisition (the “Potential Acquisition”) of a gold mine project, which if materializes may constitute a notifiable transaction under the Listing Rules.

From July 26th PR:
China Mining Resource Group Limited
On 26 July 2011, the Company together with Best Tone, a wholly-owned subsidiary of the Company, entered into the Convertible Loan Agreement with Majestic Gold pursuant to which Best Tone agreed to make available a Convertible Loan in the amount of CAD10 million (equivalent to approximately HK$82 million) to Majestic Gold at an interest rate of 7.5% per annum and the Company agreed to guarantee Best Tone’s obligation thereunder.

From Majestics PR, but left out of the Chinese PR:

The borrower has also agreed to a 90-day period for reciprocal due diligence reviews and discussions for the possible further involvement of the lender in the Song Jiagou project.