Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Majestic Gold Corp. V.MJS

Alternate Symbol(s):  MJGCF

Majestic Gold Corp. is a Canada-based mining company. The Company is engaged in mineral resource exploration, development and extraction. The Company’s Songjiagou Gold Mine covers approximately 75.04 square kilometers in Muping, Yantai, Shandong Province, China. It has four separate tenements, including E36/918, E37/1334, E63/2110 (Kumarl) Tenement and E77/2817 (Moorine) Tenement. These tenements are located in Western Australia, an area with demonstrated potential for the discovery of lithium oxide mineralization. E36/918 tenement has been granted and consists of two blocks located 150 kilometers (km) North of Leonora, about 50 km north of Leinster, along the east side of the Kathleen Valley. E37/1334 tenement has been granted and consists of six blocks located west of Leonora township, 200 km North of Kalgoorlie and 700 km northeast of Perth, in the Goldfields region. E63/2110 (Kumarl) tenement has been granted and is comprised of 10 blocks located 250 km south of Kalgoorlie.


TSXV:MJS - Post by User

Bullboard Posts
Comment by MisterBon Jun 02, 2011 9:53am
356 Views
Post# 18661328

RE: RE: Q2 financials posted on SEDAR today...eom

RE: RE: Q2 financials posted on SEDAR today...eomHi Shockem,

A few thoughts on your post and Majestic as it stands today (from my view):

1) From here on in, Majestic's financials will be much better as the new mill started production at over twice the current throughput of the last financials.  As we all know, this will grow from the approx 1200 Tonnes per day to 7200 tonnes per day.  So, From here on in, we see financials growing to $20M+ Revenue per Quarter (not likely in Q3, but Q4).  That is a good feeling!
--As an aside, Rod H did say in the Nov 2010 interview that the mill would start up mid 2011. He was dead on.  Perhaps a new beginning of meeting dates?  I give credit to Hibbits for that, for obvious reasons.

2) Q3 will be released at the end of August, so if people aren't aware of Majestic by then, they will start to get acquainted with Majestic from the Q3 Financial release forward.  To that end, Q2 had lower revenue due to the Chinese new year (2 weeks of vacation for the chinese) and the focus on the new mill start.

3) Funding has to be close, but with Majestic where it is (Not quite reporting big numbers), I can't see a Hong Kong listing this year coinciding with funding.  I do think they will do a round of financing on the TSXV or TSX, get the market cap up, then go for a RS (Rollback) and chinese listing at that time (2012).  Just a gut feeling on that. 

4) Reverse Split - I think there may be a special vote next year for that, in concert with the Chinese listing, as it is not an item to be voted on (at least not in the proxy for this meeting).  The mill should be in full production mode, raising the Market cap, for this to happen most effectively.

So, what happens between June 2 and Sept 1 when the financials come out and a new Majestic is born in the public's eyes?

5) Warrants - We know warrants expire mid-July.  We've seen twice the amount expire last October (and all exercised, with an increasing share price).  I expect June and July will see a lot of promotion to absorb these shares just as we saw in October and last April.  I would think we will have multi-million volume days again.  They should and likely will still to what worked in the past.
On that note, we've seen Majestic's list of participants for the grand opening in May.  I figure all of those parties will get something out over the next two months, in addition to the historical use of German and English newsletters.  With Majestic opening and using this new mill, this really is the biggest milestone to date, and should move the stock. 

6) AGM - Occurs next Thursday. Historically, Majestic releases news the week of the AGM. I expect they will not change their plan of attack.  I'd love to see video, an new presentation, a new interview with Rod, etc.  I've voted all my shares "with Management" and still have not sold 1 this year.

So, with the new mill processing Ore, the mine plan, licencing and chinese engineering report underway and likely almost complete, I am very comfortable holding my shares through the summer and into the fall and realistically, the best days should be in front of us.   We also know drilling has or is taking place to define an extension of the resource, so we may see a bigger resource estimate, and to top it off, hopefully financing soon so the title can be transferred in whole (adding $40M to Majestic's assets)...

All in all, good stuff for the patient. I am hopeful the word gets out to the general public sooner than later, but will be holding this investment well into 2012...

B
Bullboard Posts