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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

Comment by richard45161on May 24, 2024 11:21am
119 Views
Post# 36055918

RE:Q1 financials

RE:Q1 financialsPRG has reported Q1 financials: https://www1.hkexnews.hk/search/titlesearch.xhtml?lang=en and search for 02489

"
GOLD PRODUCTION For the three months ended 31 March 2024 (the “Reporting Period”), the Group’s total gold production volume was approximately 220.4kg (or approximately 7,086.7 ounces), representing a decrease of approximately 4.4% as compared to that of the three months ended 31 March 2023 (the “Comparable Period”). The decrease in total gold production was mainly due to temporary pause of mining activities of the underground mine during February 2024 as the supply of explosive was restricted as well as underground mine staff were on annual leave in celebration of the Chinese New Year during February 2024.
"
.pdf page 12
https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0524/2024052400156.pdf

It remains to be seen whether SJG mine (open pit and underground) will be able to produce the forecasted 34,195 ounces from the latest corporate presentation. So far, the milestones/timelines set by MJS for the IPO, mine expansion, production forecast from 
SRK Report and the purchase of new mining assets have not been met. A long continuous list of failure from the MGM

best
Richard





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