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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 Apr 21, 2012 8:26am
292 Views
Post# 19819533

RE: RE: HK Exchange: A Human Translation

RE: RE: HK Exchange: A Human Translation

Hey Lazer,

NP on the translation. It was needed for all of us investors that need to fend for ourselves when it comes to gathering information.  I agree, we all should get oz or medals for our patience.  In regards to CMR, I remember many of us speculating on them taking Majestic to the HKex and then they had to deal with some unfortunate circumstances.  I do remember that we had not heard or had any updates in the form of news for 3 months prior to the convertable loan agreement - perhaps a quiet period.  Considering the HK translation and the fact that it refers to Majestic "being close", I wonder if MJS is in a similar quiet period.  It would make sense in they were in negotiations that they would not be releasing news.  However, it would have been smarter to release some news (production numbers for Jan, feb, March, corporate updates, etc) before negotiations start so they negotiate from a point of power. 

SCanuck - thanks for the links to the new presentations. Points to notice:

  • As this FY is Year 1, Page 11 shows this FY2012 as producing +/- 50,000 oz of gold. 
  • I can't see a forecast that is published half way through FY2012 being wrong, so that means we are in for some amazing quarters coming up, if all works out as planned.  Another 45k oz in the next three quarters?  Maybe 7k, 10k and 20k (as they should be at the high grade zone).
  • 50K oz (+/-) would be around $80M revenue (at $1600/oz) this year.
  • Shows FY 2012 with 250k oz of gold.  $400M Revenue. Wow.

I'm not so sure if the wardrop schedule is applicable to fiscal production - rather, it looks to be calendar year production.

I guess for me the bottom line isn't what they are doing with HK, it IS what they are doing on the ground in China.  It is what they publish each quarter - and the progress they have (and will, no doubt) show each quarter going forward.  That is what i will use to evalaute my position, and their successes or failures.  So far, Q1 exceeded my expectations, while at the same time management and their failures to promote and release timely information have FAILED shareholders huge.  Hopefully as they ramp up, we will see what we've been waiting so patiently for - A synergy fueled by spectacular results, and complimented by 1) Quarterly News Releases 2) Production numbers 3) Corporate Updates 4) any miscenlaneous updates.

Perhaps I am still sleeping only being a bit through my morning coffee, but hey, we can all dream!

Until Q2 comes out at the end of May, I'll be waiting and watching...

Cheers,

B

Bullboard Posts