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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 MisterBon Jan 21, 2015 7:15pm
265 Views
Post# 23346254

FY2014 Financials and FY2015

FY2014 Financials and FY2015
So the FY2014 Financials will be out no later than February 2nd.  I expect much the same as previous quarters in FY2014 - but with less of a loss. Overall, the year will be underwhelming from a financial perspective, but looks to be a decent year from a "rehabilitation & preparation" perspective. 

Moving forward, Q1 2015 will be out no later than March 2 and this is where Majestic's financials start to get interesting.  I don't expect too much from Q1, but my view is that the groundwork was laid in 2014 with pit optimization, blast hole assay and marking of higher grade areas based on new blast holes - all to allow for higher headgrade and more optimized throughput  - Finally.

If we look at the way Q2 and 3 were trending, and see this trend continue in the Q4 and Q1 bottom lines relative to the the head grade and the oz produced, it would seem to me that Majestic is on the path to being a profitable gold producer at 30 - 40k oz of annualized production - which looks to be their target for FY2015 based on the past news release.

"Currently mill head grades are averaging about 0.4 gram per tonne, about one-third of the calculated resource grade, so our initial goal of achieving an increase in head grade of 50 to 100 per cent would have a very positive impact on production costs and overall profitability."

I know, I know - I'm in the "show me" state of mind too, but it looks to be a logical transition from red to black from my vantage point.  Time will tell.

Cheers!
B


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