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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

Post by richard45161on May 29, 2024 6:24am
154 Views
Post# 36061707

updated corporate presentation

updated corporate presentationMJS has updated its corporate presentation with the Q1 results. I highly valued the (this is how low the bar is with the MGM) existence of it.

https://majesticgold.com/investors/presentations/

Q1 and Production guidance for 2024

The production guidance for 2024 is 34,195 oz’s which would mean around 8550 oz’s per quarter.

The Q1 2024 production was only 7942 and only around 100 oz’s was due to the lack of explosives.
The Q1 Head grade (Au g/t) was 0.53 and the Head grade (Au g/t) in the production guidance is 0.63, which is in my opinion the reason for the production miss.

The corporate presentation was updated in april 2024 with the knowing of the lower current head grade and the production guidance was not updated.

WHY? 

Is MGM of conviction that a higher head grade in Q2-Q4 will make up for the production miss in Q1? Or will this just another fail in a long list of missed milestones/timeframes that MGM can show for? 

before the mentally narrow-minded come again, who are not able to understand a reality with facets, other than black and white.

It is very bad that mgm may not be able achieve self comunicated milestones/timeframes again. This really needs to change. We deserve a professional mgm. But the the difference would be not very decisive

production options 2024

4x7000 oz’s = 28.000  oz’s
average gold price = 2350 USD/oz
65.8 millionen revenue, 17.77 millionen net profit (0,27), 12.525 millionen MJS share (0,705)
net profit share MJS = 12.525.000 

4x8550 oz’s = 34.195  oz’s
average gold price = 2350 USD/oz
80 millionen revenue, 21,5 millionen net profit (0,27), 15 millionen MJS share (0,705)
net profit share MJS = 15.000.000 


It is really important that MGM will comunicate how we will benefit from the last 3 year, from the IPO of PRG and from future activities of the company. What i demand, i  layed down many times before. The fundamentals to support this would be there in any case. 

hope his was helpfull
best
Richard




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