In its corporate presentation, MJS forecasts 34,195 ounces for 2024, which corresponds to approx. 8580 ounces per quarter. However, “only” 7942 ounces were produced.
https://majesticgold.com/investors/presentations/
https://stockhouse.com/news/press-releases/2024/05/23/majestic-gold-corp-reports-2024-q1-results
The reason for this is lower production from the “underground mine”, ore mined 16,426t Q1 2024 compared to 21,438t Q1 2023
The reduction in production is not mentioned in the financial statements, the MDA or the press release and is also not included in the production guidance in the corporate presentation.
It seems to be the same non-transparent BS that this loser MGM has always pulled. Now you can speculate again what the reason was etc. etc. and how it will develop in Q2-Q4. I'm hearing all sorts of fraud fantasies again and everything is so completely unnecessary. If only this unprofessional MGM would finally do its job. After 3 years of screaming BS from this outstanding MGM -no improvement...oh man
Additionally, general and administrative (G&A) expenses have increased to $1,603,229 Q1 2024, an increase of 32.4% from $1,211,010 for Q1 2023.
Materially, the numbers are still good. Realized gold price is good if you look at the average for Q1 and is above the western spot price. 5m net is also very good. The company still has huge cash reserves and a stable and lucrative business model. P/E is at a low 6.5 for a financially strong company like MJS. P/B ratio remains at around 0.5
https://simplywall.st/stocks/ca/materials/tsxv-mjs/majestic-gold-shares/valuation
The contents of the AGM of Persistence should be published by 26.05 and the contents of the AGM of MJS by 11.06. After only 6 months, we should finally receive information on how this MGM sees the future of MJS and how we shareholders can participate in its success.
Best regards
Richard
Translated with DeepL.com (free version)