upcoming dates and news In August 2024, the Board approved a special dividend of CAD$0.007 per common share. The total payout for the special dividend will amount to approximately CAD$7.3 million. The special dividend will be
paid on October 11, 2024 to the
Shareholders of record at the close of business on
September 27, 2024. This special dividend of CAD$0.007 per common share represents an estimated yield of approximately 10.76%;
The Company has initiated a
drill program with the purpose of
upgrading its gold reserves, thereby increasing the life of mine. The
first phase of the drill program will include 10 drill holes and is scheduled to be completed by the
end of September 2024. The
second phase of drilling will include a further 17 drill holes which is scheduled to be completed by the
end of FY2024. The Company, through its 70.5% owned subsidiary, Persistence Resources Group Ltd., (“Persistence”) has entered into a letter of intent
(“LOI”) dated March 24, 2024, with a Vendor (“Vendor”) and Target Company to acquire 70% of the issued share capital (the “Possible Acquisition”) of the target company incorporated in the PRC (the “Target Company”).
expected completion of the process by february 2025 https://majesticgold.com/site/assets/files/4532/2024-q2-mda.pdf pdf page 3
The Company maintains its
2024 annual production guidance of 34,195 ounces. Production continues to be weighted to the second half of FY2024 as mining operations will primarily occurring at +9m ASL and -3m ASL where
higher grades are expected. https://majesticgold.com/site/assets/files/4532/2024-q2-mda.pdf pdf page 6
Q1 7912 ozs
Q2 8265 ozs
Q3 9000 ozs expected Q4 9000 ozs expected
anual 34.200 ozs
see my production estimations for 2024 -> 20 million net profit for 2024 https://stockhouse.com/companies/bullboard?symbol=v.mjs&postid=36224266
At June 30, 2024, the Company has a
cash balance of $103,932,757, of which $33,379,640 is held in Hong Kong, $59,214,932 is held in China and $11,391,237 is held in Canada. Cash held in China is subject to local exchange control regulations which provide for restrictions on exporting capital from China, other than through normal dividends.
On June 11, 2024,
Majestic Gold Corp. invested US$181,600 (CAD$250,000) in
Allied Critical Metals Corp. through an equity financing by purchasing 2,500,000 common shares at CAD$0.10 per common share.
https://alliedcritical.com/ https://majesticgold.com/site/assets/files/4532/2024-q2-fs.pdf pdf page 12
Australia Lithium Tenements, Australia On June 15, 2021, the Company entered into a letter of intent (“LOI”) and an amended LOI on December 15, 2021, and further two amended LOI on June 15, 2022 and June 15, 2023, with Western Explorers PTY Ltd., a private Australian corporation, to acquire a 65% interest in four separate tenements located in Western Australia, an area with demonstrated potential for the discovery of lithium oxide mineralization. On August 19, 2024, the Company
terminated the LOI and will not be conducting any further work on the tenements. https://majesticgold.com/site/assets/files/4532/2024-q2-fs.pdf pdf page 15
highlight a post from
22882288 with his excellent summary/outlook
https://stockhouse.com/companies/bullboard?symbol=v.mjs&postid=36204707