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Majestic Gold Corp. V.MJS

Alternate Symbol(s):  MJGCF

Majestic Gold Corp. is engaged in mineral resource exploration, development and extraction. It operates the Songjiagou open pit gold mine in the eastern Chinese province of Shandong. Songjiagou Gold Mine covers over 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 kms 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 kms North of Kalgoorlie and 700 kms northeast of Perth, in the Goldfields region. E77/2817 (Moorine) Tenement consists of eight blocks located 400 kms east of Perth.


TSXV:MJS - Post by User

Bullboard Posts
Post by ngobeon Sep 27, 2010 11:31am
371 Views
Post# 17496219

Selling Pressure

Selling PressureI don't understand this selling pressure after such great new with the company's ducks in a row.  Based on outstanding shares MJS is being valued right now at about 45 mil market cap.  That is way too low with about 2.5 mil ozs gold resource and in early production mode with significant ramp up to about 55k oz annual produciton rate by early next year.  Remember people they are in china where costs are low and project constructions / ramp ups happen quickly (as indicated on the news release).  Take a hint from Jinshuan (now chinagold) and how quickly they moved off their lows. We should be more than double the current share price of 0.15.  We may get there quickly once we are discovered which can happen sooner than later in this gold market.

Good Luck Longs
Bullboard Posts