2022 Net Income 9 months: 22.27 ( 16.40 Million USD ) The financial summary for 3 most recent quarters:
September 30, 2022
Revenue: $15,762,546
Net income: $5,135,207
June 30, 2022
Revenue: $16,438,676
Net income: $5,844,799
March 31, 2022
Revenue: $16,966,985
Net income: $5,417,860
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Mine In Productin Since 2011
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Mine License extened for 10 years Till 2031.
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First Licensed for 5 year till 2016, Second extension 5 year till 2021, Latest extension 10 year till 2031. No Regional or Regularity Risk.
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Mine life till 2043 (21 More Years) so 1 more extension will be needed. History shows this will be routine.
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Governmental Safety Inspections completed in August 12, 2021. No remaining risk.
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Total cash costs are $654/ounce. Gold trading at $1755/ounce
Shandong Mining trading at 25 times Net Income. Majestic Market Cap Calculation as per Peers
Majestic first 9 months net income: 16.4 Million USD
12 Month projected Net Income: 22.0 Million USD
*** 22 Million x 25 times multiple = 550 Million USD ***