Majestic Gold Corp. V.MJS

Q1 Details Not Bad!!! Cash up to $58.2 M

[Value2020]

Three months ended March 31, 2023

• Gold production was 8,127 ounces, compared to 10,071 ounces produced for the FY2022 comparative period

 

• Revenue was $14 million, compared to $17.4 million for the FY2022 comparative period

 

• Gross profit from mining operations was $7.1 million, compared to $9.7 million for the FY2022 comparative period

 

• Net income was $4 million, compared to $5.4 million for the FY2022 comparative period

 

• Cash flow from operating activities, excluding changes in non-cash working capital was $7.2 million, compared to $7.7 million for the FY2022 comparative period. For computation details, refer to pages 13-15 of the MD&A for this Non-IFRS financial measure;

• Strong financial position at March 31, 2023. The Company had cash and short-term investments of $58.2 million (December 31, 2022 - $52.7 million) and working capital of $41.3 million (December 31, 2022 - $36.4 million);