Majescor Resources Inc. (TSX-V:MAJ) is the second junior mining firm with local offices to seek a share consolidation in as many weeks.

The uranium exploration company, which has its administrative offices in Ottawa, said it is looking to consolidate its common shares at a rate of one new share for each tranche of 10 outstanding shares. Shareholders will vote on the consolidation at a meeting scheduled for Nov. 17, the company added.

Majescor noted that it would have to suspend a previously announced $2.25-million private placement offering while it was waiting for the restructuring to go through, and would instead be concentrating its energies on compiling and analyzing the results from its summer 2008 exploration program at its two Northern Quebec uranium properties.

"It is the board of directors' opinion that Majescor's existing issued and outstanding common share structure is not conducive to securing additional equity financing and that a restructuring is warranted in order to facilitate attracting new investments to the company," Majescor's statement read.

The company hinted that it also had "potential value-added opportunities" that it would be able to take advantage of once the consolidation plan was completed.

In late August, Majescor had announced that it would be issuing up to $1.5 million worth of flow-through shares and up to $750,000 of units, in order to pay for the exploration and development activities on its Quebec and Nunavut properties and for general working capital purposes.

Majescor's announcement follows a similar move by Patrician Diamonds last week. Patrician CEO Robin Dow said the company would be consolidating its shares ahead of an expected crush of small mining companies looking to do the same because of weak market conditions.