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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
Comment by MisterBon Jul 26, 2011 9:32pm
294 Views
Post# 18876376

RE: RE: Analysis

RE: RE: AnalysisTeknikal,
Certainly some things to think about with the initial investment and the 90 day DD aspect.  Depending on who the investor(s) are, there could be great potential.  Takeover?  JV?  Who knows.  The ball is starting to roll though.  I always saw this company as a takeover target, and still do.
I just hope they continue to make progress with the mill commissioning and grade control, and have that in place for the upcoming Fiscal Year starting Sept 1.  That would be progress. Then, going forward, they can rely on solid financials and an actual mining plan vs. a quasi-mining plan that they are working with now. That would drive their bargaining power up.
The financial results that are due Sept 1 will be interesting... have to think the rev's would be around $5 - $6M if they continued with the 3000TPD and grade remained the same or better.  Even better if they were slowly ramping up.  As of now, investors are in the dark about that progress but considering TPD is almost triple, I'd assume triple the revenue of any given quarter over the last year.
Pezo, 
As for a buyback - I don't see that happening with this management.  I see either a full takeover, or a rollback/chinese listing combo - and both are very desirable in my opinion.  Either way, I like what I saw in trading today (taking over half a million shares at the ask of .22 today) and I like the financing "start" - again, depending on the outcome of the DD over the next 90 days.  I would just like to see more interest. Much more.
I wonder what the residual affect of this announcement will be. WIll newsletters take it in and push?  Will investors start to do DD. Was it a softer day that one would hope for because of the summer?  I guess we'll see in the coming weeks...
Cheers,
B
Bullboard Posts