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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 Aug 20, 2011 3:14pm
413 Views
Post# 18963753

RE: RE: New Video & Quarter expectations

RE: RE: New Video & Quarter expectations
Thatnew mill looks pretty good - and it's been in operation since April 27th ofthis year. Looking forward to the Q Results due out at the end of the month...
 
Iam expecting (conservatively) $6 - $7M as they were commissioning the mill in 2of the 3 months in the Q, at 3000 tpd.
 
Assume660 oz per month for the first month (which the CEO said was their average permonth in the Nov 2010 interview), then triple that, per month, for the twomonths the mill was being commissioned (TPD went from 1000 tpd to approx to3000 for the last two months.
 
Hopefullythere were no hiccups in production, and it would be nice to see if theygradually increased production.
 
Assumegrade remained constant (which is still low for them) at .5 g/t
Assumethe price received per oz was $1500 (slightlybelow average for that period (Apr-June)
 
Total:4600 oz.
Revenue:$6.9M
 
Ofcourse, they will still show a loss because 50% of net profit from goldproduction is going towards paying off their partners for their portion of millconstruction... 
Bullboard Posts