Majestic Gold Corp. V.MJS

Alternate Symbol(s): MJGCF

Metals & Mining Gold

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

Majestic Gold Corp.

Bullboard Posts

Post by Value2020on Aug 01, 2020 8:42pm

166 Views

Post# 31354606

My Shutdown Comment

My Hypothesis...

Last year Q1 ore minned: 285,633 Tons
2020 Q1 ore minned: 224,692 Tons

60,939 Tons less minned 2020 Q1

Divide 285,633 by 13 weeks (Q1) = 21,971 tons per week

3 weeks X 21,971 Tons = 65,915 Tons (***3 week shutdown)

If Majestic minned the same amount of ore as last year, production would have been up.

60,939 X .47g/t @ 94% recovery = 950oz

Explains 5% gold decline last year Q1

Bullboard Posts

E3 inches closer to Alberta's first lithium production plant