Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

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 Jun 05, 2015 4:02pm
265 Views
Post# 23802228

RE:RE:Majestic Gold Corp. Reports Second Quarter 2015 Results

RE:RE:Majestic Gold Corp. Reports Second Quarter 2015 Results
Doesn't this just define MJS?

"The Company Continues to Make Progress in its work on the implementation of the Grade Control Program. However, de Company does recognize the implementation process is taking more time than expected to complete and realize Previously the full benefits of the program"

The bad, is obviously MJS is running in place with grade.  
  • I'd like to know what % of the pit have assays and have been populated in the new mine plan database, and when they expect to mine the higher grade areas.
  • I'd like to understand the amount of ore diverted to a waste site vs. processes, as we see throughput is much lower then normal, and how long it is expected to continue with lower throughput.
  • I had expected they would be moderately higher g/t, around .45...
The good, obviously:
  • At .42 grams per tonne, they are moderately close to breakeven with the cost controls put in place.
  • At .42 g/t, their cash costs are $1135.  When they get to .84g/t, at current throughput, Cash costs would be $567, among the lowest in the sector.   Get to their 1.25g.t average and it is reduced signficantly again...
  • Their cash position is decent at $9M.  At this rate, their burn rate is minimal.
Hopefully shareholders get a shareholder update around the AGM date (june 11th).  MJS seems to be running in place, perpertually on the cusp of better times, but always seeming to disappoint.  At least they are consistent.

All said, I like the new management commitment to cost control, honesty and doing things right the first time.  It's a departure from Rod and shysters...

Talk to you in the fall unless something significant happens!
B

Bullboard Posts