MisterB
13年前
Next Two Weeks:
Love the consolidation in the .23 - .25 range this week after a 60% increase. Looking at an interesting two weeks coming up:
-Q1 Financial statements due in the next two weeks with Revenue $6.5M+, give or take (converted to IFRS reporting standards).
-Represented by Quam March 11 for two weeks during the Hong Kong show and Singapore show, to do site visits and introduce high value investors to Majestic. From the PR, if they bring in some high-net worth money from other countries than mainland China into the current market or into Majestic directly - nice impact to the share price:
"Quam IR has an extensive network in Asia, with a strategic presence and affiliations in countries like Japan, Thailand, Dubai and the People's Republic of China. In addition to having access to international markets, Quam IR provides both on-line and off-line services such as on-line IR platforms, interviews, stock quotes, news flash reports, electronic communications to investors, and trade show events to companies to effectively distribute news and updates with considerable impact. In terms of its distribution channels, Quam IR has an impressive wide range of regional financial media channels, websites and institutional access to Bloomberg, Reuters Xtra and Thomason ONE, which enables its news to reach up to 3,500 websites in 70 countries."
"Quam IR will be visiting the company's Song Jiagou project and arranging meetings with media, analysts and potential investors in Hong Kong, coinciding with Mines & Money 2012."
-if news is released during the HK show, I am sure it would be disseminated accross their (Quam's) network.
-Speaking at the Canadian Chamber of Commerce in Hong Kong March 19th
-Feature Company at Hong Kong Mining Show Monday, March 19, 2012
-Feature Company and speaking at the Singapore Mining show March 26, 2012
-Shareholder update or something would be nice to see or monthly production updates or idea of ramp up time to 100,000 oz would be nice... Anything that would be released prior or at the show could have some decent impact.
All in all, an exciting two weeks, especially knowing the impact PDAC had on the stock and the seemingly positive reception and attention the company received...
Then, two more months til Q2, which should show nice growth over Q1. All good things...
Looking forward to it all...
B
MisterB
13年前
Gold Production Update:
VANCOUVER, BRITISH COLUMBIA--(Marketwire -02/24/12)- Majestic Gold Corp. (the "Company") (TSX-V: MJS.V - News)(Frankfurt: P5E) is pleased to announce quarterly gold production results of its Chinese subsidiary, Yantai Zhongjia Mining Company Limited ("Zhongjia") at the Song Jiagou property for the past five fiscal quarters beginning October 1, 2010 and ending December 31, 2011.
The following table highlights information relating to the operations at the Song Jiagou project:
---------------------------------------------------------------------------
Quarter
Quarter Ended Total Ended
---------------------------------------------------------------------------
31-Dec-10 31-Mar-11 30-Jun-11 30-Sep-11 FY 2011 31-Dec-11
---------------------------------------------------------------------------
Milled (t) 116,584 118,488 284,131 454,183 973,386 397,739
---------------------------------------------------------------------------
Head grade
(g/t) 0.364 0.262 0.309 0.277 0.295 0.330
---------------------------------------------------------------------------
Effective grade
(g/t) 0.368 0.338 0.279 0.387 0.347 0.427
---------------------------------------------------------------------------
Concentrate
produced (t) 1,255 1,084 2,693 6,653 11,685 6,009
---------------------------------------------------------------------------
Gold in
concentrate
(kg) 37.14 34.13 65.13 153.58 289.99 150.35
---------------------------------------------------------------------------
Gold for Sale
(kg) 34.54 31.75 60.57 142.83 269.69 139.83
---------------------------------------------------------------------------
Gold for Sale
(oz) 1,111 1,021 1,947 4,592 8,671 4,496
---------------------------------------------------------------------------
Gold Sold (kg) 37.65 28.35 58.88 105.22 230.10 120.10
---------------------------------------------------------------------------
Gold Sold (oz) 1,211 912 1,893 3,383 7,398 3,861
---------------------------------------------------------------------------
Notes:
-- Increase in tonnes milled between the quarter ended 31-Mar-11 and the
quarters ended 30-Jun-11 and 30-Sep-11 was a result of the commissioning
of the new 6,000 tpd mill in May 2011. This mill was operated at various
levels to properly test and fine-tune its operation through to the end
of June.
-- Effective grade is the net real grade or the mill through-put and is
calculated by taking the sum of gold in concentrate plus gold lost to
tails and dividing by tonnes milled. This grade has been significantly
higher than the assayed values of the head grade. It is believed to be a
result of a significant free-gold component in the rock, which results
in the nugget-effect on samples. The Company is looking to implement
more detailed head grade sampling and assay procedures in an effort to
reduce this error. (There is a good chance this error also occurs in the
drill holes, as it is very hard to get representative holes).
-- The slight decline in tonnes milled for the period ended 31-Dec-2011 is
a result of the mill being shut down for maintenance for 7 days in
October 2011.
-- Total mill throughput averaged 4,925 tpd for the six months ended 31-
Dec-11 or approximately 66.5% of total capacity.
-- Gold production results were in line with the block model estimates and
schedule provided by Wardrop in the Preliminary Assessment Technical
Report ("PEA Report") released January 20, 2011. The Company is
currently producing from areas considered to be waste in the PEA Report
but given the price of gold and the contract mining agreement it has
been determined that this material can be mined and generate positive
cash flows. Once this material has been removed and either milled or
stockpiled, the Company will commence mining the higher-grade material
situated below it. During the calendar year ended December 31, 2011, the
Company was processed all of the material that was mined from the pit.
This was due to the lack of land where waste or low-grade material could
be stockpiled. Recently, the Company secured an area to dump waste and
low-grade material and plans are being initiated to increase the total
tonnes removed from the pit. Majestic will continue to process the low-
grade material to generate cash flows but expects to see a slow and
steady increase in throughput and grade.
The geological and technical information contained in this news release has been reviewed and approved by Mike Hibbitts, P.Geo., who is a qualified person under the definitions established by National Instrument 43-101.
On Behalf of the Board of Directors
MAJESTIC GOLD CORP.
Rod Husband, P.Geo, President
MisterB
13年前
2012 Majestic Gold Expectations
Well, 2011 was a punishing year for the TSXV and Jr Mining stocks as a whole. The TSXV index was down from a high of over 2400 to less than 1400 in 2011 (almost 50% from its high), and most Jr. Mining stocks suffered immensely. If you preserved your capital in 2011, then you did pretty darn well because most stocks were heavily punished. Majestic was down 5% over the year, so not too bad in a year of turmoil, so all things considered, I am ok with Majestic as we head into (what will be) a way better year for Jr. Mining companies.
in 2011, Majestic laid the groundwork for a great 2012. They:
-Completed their scoping study and released it in January
-Completed the construction of the new 6000 TPD mill ahead of schedule (April vs. May)
-Started year 1 by commencing the commissioning of the mill
-Raised enough capital to see them through to full production
-Started seeking ways to list on the Hong Kong exchange
That said, they failed miserably in keeping general shareholders informed unless you called them. Shareholders certainly deserved better insofar as communication, but, I am told that 2012 promises to be better from a communication and promotion perspective.
In my view, the next 5 months will be fun as we'll see Q4 and FYE2011, Q1 and Q2 of FY2012 results by May 30th. Following are some updates that I was able to get from the company recently, as Majestic is focused on a few major priorities:
-Looking at means of listing on the Hong Kong exchange - whether a merger with a currently listed company or perhaps a reverse takeover of a shell. This strategy is used all the time to get US listings (experienced it many times in multiple US markets).
-Mining the lower grade halo surrounding the higher grade zone in preparation for increased production resulting from receipt of the mining license increase.
-Tonnage processed will remain the same while proper controls are implemented (auditing, etc), as the:
--Producers have very strict rules/audit requirements (Is it taking Majestic longer than anticipated to align with Producer Regulations?)
--Permitting, mine plan, etc, still coming along, slowly due to regulations and requirements to become a production company
--7400 TPD now scheduled for mid-2012, but as the lower grade halo is processed, the higher grade zones will start to be mined thereby increasing grade processed through the mill. Ultimate result will be increased Gold production going forward.
So, Majestic seems to be humming along at the mine site. Too bad management is to ignorant to keep the general investment community aware and informed not only of their plan and strategy, but also their progress to date. I expect we should see that with their financials at the end of the month, but I've expected these types of normal disclosure before of this management team, only to hear crickets...
Happy New Year folks... glad to have 2011 behind me as an investor, and I really look forward to 2012.
Cheers,
B
MisterB
13年前
600,000 oz Potential - not new resources...
This is based on known gold occurrences at depth, and along strike that are yet to be fully explored. So, it is potential for increasing resources, but not quantified or qualified. That is according to what I am hearing from the german conference.
Also, it looks like the company will be releasing a new website (finally) in the short term with updated pics, video's and content. About time.
November - forward - should see Majestic start to push the stock and get the articles out that they worked on in the summer - and that they documented in that email blast at the end of May. Now that they are 6 months into the commissioning process, they are in a much better position to get news out based on progress to date, and plans for the future.
I guess we'll see, but it would be great to get the exposure in the US - and that was what the Business Day TV video was about.
May 24th, 2011
Majestic Gold Corp. Media Update
TSX - MJS / FSE - A0BK1D
Please Come visit us at the Cambridge House World Resource Investment Conference at the Vancouver Convention Center East, booth # 1019, June 5th & 6th, 2011.
Majestic Gold Mill Opening
On May 24th, 2011, Majestic Gold Corp. welcomed investors, newsletter writers, journalists, financiers as well as Chinese officials to our grand opening at our Song Jiagou property in Shandong Province of China. This event marked the commencement of our exciting transition into a large scale producer. Please refer to our previous News Release for further details regarding the commissioning stage.
http://www.majesticgold.net/pdf/news/current/nr20110504.pdf
Newsletter Writers
Jay Taylor, Gold & Technology Stocks - "Face the Analyst"
http://www.miningstocks.com/
Jay Taylor, host of Face the Analyst interviews Rod Husband, CEO of Majestic Gold Corp. Video Release conducted by Investment Pitch . Distribution for both of these videos includes the world-wide Thomson Reuters Video Platform and news release coverage in 5 languages.
Al Korelin's Economic Report
http://www.kereport.com/
Future Video segment on Majestic Gold Corp. Camera crew presently on site.
Goldletter International by Marino G. Pietrese
http://www.goldletterint.com/
Mr. Pietrese will be releasing another research report within the year. Please refer to our Company Research Report available on his site
A.) Majestic Gold Company Report:
http://www.goldletterint.com/documents/pdf/MAJESTICGOLD_GLSP_May2011.pdf
B.) Special Report on China & Mining:
http://www.goldletterint.com/documents/pdf/CHINA_GoldReport_May2011Update.pdf
Broadcast Media
Business Day Television with host Terry Bradshaw
http://www.businessdaytv.com/
Business Day Television with host Terry Bradshaw is conducting a segment on the mining industry with Majestic Gold Corp. as one of it's feature company. The segment will be distributed across Canada & the US with national & local airings. A news release will be distributed with the show times.
Print Media
The Asia Miner
Please also refer to their previous article about us ( may/ june 2011 Edition within the "China" section)
http://www.asiaminer.com/magazine/images/stories/pdf/TAM-May-June-2011.pdf
The Northern Miner
Alisha Hiyate, Editor of Mining Markets & Diamonds in Canada is presently on site and will be covering an article on us.
Resource World - July Edition
The Economic Observer - Interview with Rod Husband
The South China Morning Post ( Hong Kong Newspaper)
Research & Previous News Releases
Vicarage Research Report
http://www.majesticgold.net/pdf/media/Majestic-Gold-14032011.pdf
Corporate Update
http://www.majesticgold.net/pdf/news/current/nr20110311.pdf
Preliminary Assessment
http://www.majesticgold.net/pdf/news/current/nr20110121.pdf
Tel: +1 (604) 681-4653
Toll Free: +1 (866) 282-8398
Fax: +1 (604) 568-4902
Email: investors@majesticgold.net
MisterB
13年前
Majestic Gold Corp. Joins OTCQX
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Press Release Source: OTC Markets Group Inc. On Tuesday August 23, 2011, 7:00 am EDT
NEW YORK, Aug. 23, 2011 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), the financial information and technology services company that provides the world's largest electronic marketplace for broker-dealers to trade unlisted stocks, announced that Majestic Gold Corp. (OTCQX: MJGCF; TSX.V: MJS), a Canadian mining company, is now trading on the highest tier of the OTC market, OTCQX®.
(Logo: http://photos.prnewswire.com/prnh/20110118/MM31963LOGO )
Majestic Gold began trading today on the OTC market's prestigious tier, OTCQX International. Investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on www.otcqx.com and www.otcmarkets.com.
"The OTCQX platform offers investor-focused companies a winning combination of quality control, transparency, and broader visibility to U.S. investors," said R. Cromwell Coulson, President and Chief Executive Officer of OTC Markets Group. "We are pleased to welcome Majestic Gold to OTCQX."
McDowell Odom LLP (www.mcdowellodom.com) will serve as Majestic Gold's Principal American Liaison ("PAL") on OTCQX, responsible for providing guidance on OTCQX requirements.
About Majestic Gold Corp.
Majestic Gold Corp. (OTCQX: MJGCF; TSX.V: MJS) trades in the United States on OTCQX under the symbol "MJGCF." Majestic Gold is currently in the commissioning stage of its flag ship property in China and currently is mining gold at a rate of 3000 tonnes per day. Based on a recent independent preliminary assessment report Majestic Gold's flag ship property is valued at US$ 525 Million using a 10% discount rate. Over the life of the mine production is expected to reach a total of 2.3 Million ounces of gold with an average of 105,000 ounces per year. With revenues of over $5 million for 2010 alone the Company is poised to continue to meet or exceed its production targets. For more information, please visit: www.majesticgold.net.
About OTC Markets Group Inc.
MisterB
13年前
Majestic Gold Corp.: Convertible $10,000,000 Loan Financing Arranged (ccnm)
VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 26, 2011) -Majestic Gold Corp. (the "Company") (TSX VENTURE:MJS) has arranged a$10,000,000 loan to advance its Song Jiagou project in China. Ninemillion dollars ($9,000,000) from the proceeds from the loan will beused by the Company to in connection with its Song Jiagou project andthe balance of one million dollars ($1,000,000) for general workingcapital purposes.
The loan will have a one year term and loan principalwill be convertible at the option of the lender in whole or in partinto common shares ("Shares") of the Company until twelve months fromthe date of the loan advance at the price of
.205 per Share. The loanwill bear interest at the rate of 7.5% per annum, payable on maturity,and accrued and unpaid interest will be convertible at the option of thelender in whole or in part into shares of the Company until twelvemonths from the date of the loan advance at Market Price at the time ofconversion.
The lender is at arm's length from the Company andwill not become an insider as a result of any conversion of principaland interest. All shares issued on any conversion of loan principal orinterest will be subject to a four month hold period from the date ofadvance of loan proceeds. The loan is subject to acceptance by the TSXVenture Exchange.
As additional consideration for the loan, the Companyhas agreed to forward at least $9 million to Majestic Yantai Gold Ltd.,a British Virgin Islands company owned 94% by the Company to be used tofurther advance its Song Jiagou project.
The Borrower has also agreed to a 90 day period forreciprocal due diligence reviews and discussions for the possiblefurther involvement of the Lender in the Song Jiagou project.
In the event that no further agreement is reachedbetween the Lender and the Company during the 90 day period, then theloan and a minimum of seven (7) months interest will automaticallyconvert to shares in the Company at a price of
.205 per share and theinterest at Market Price respectively.
In addition the Company is pleased to announce thatit has arranged a non-brokered private placement of up to 15,000,000shares to be issued at the price of
.20 per share for gross proceedsof $3,000,000.
Completion of the offering is subject to TSX VentureExchange acceptance. The Company will pay finders' fees in cash and/orsecurities in connection with the offering, in accordance with ExchangePolicy. All securities issued pursuant to the offering will be subjectto a four-month hold period from the closing date. The proceeds from theoffering will be used to finance exploration activities on theCompany's Song Jiagou gold project in China, and for general corporateexpenses.
On behalf of the Board of Directors,
Rod Husband, President & CEO, Majestic Gold Corp.
This news release may contain forward-lookingstatements including but not limited to comments regarding the timingand content of upcoming work programs, geological interpretations,receipt of property titles, potential mineral recovery processes, etc.Forward-looking statements address future events and conditions andtherefore, involve inherent risks and uncertainties. Actual results maydiffer materially from those currently anticipated in such statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
Investor Relations
Majestic Gold Corp.
(604) 681-4653 or 1-866-282-8398
(604) 568-4902 (FAX)
info@majesticgold.net
www.majesticgold.net
MisterB
13年前
Asia Miner Article:
While we wait for updates from the company, we can see the progress they are making from this article, and also knowing the new 6000 Tonne Per Day Mill is 2 months into the commissioning stage. Looking forward to what the second half of 2011 has coming...
--------------------------
A Majestic transformation
MAJESTIC Gold is transforming from explorer
and very small-scale producer into a largescale
production company through ongoing
development of the Songjiagou Gold Project
in Shandong province.
The company is processing 1400 tonnes
each day through the existing Songjiagou
plant but is in the final stages of constructing
a new mill with daily capacity of 6000 tonnes.
It expects to begin throughput at the new mill
during May, which will bring daily processing
at Songjiagou to 7400 tonnes. (***MY NOTE: PR April 27th Indicated the Mill Commissioning started***)
Majestic’s president and CEO Rod Husband
says the company is ramping up mining activity
to feed the new mill with material being
stockpiled at the mill ready for processing.
He says based on a recent preliminary assessment
report prepared by Wardrop, a Tetra
Tech company, Majestic will be able to produce
around 105,000 ounces annually for the
next 22 years, however, the company is considering
additional capacity expansion in the
next few years as 22 years is a lengthy mine
life and it should be more like 10-15 years.
“We are also focused on completing a detailed
five year mine plan and then implementing
it so we have proper grade control. At
present we just dig the dirt and run it through
the mill but once we have a proper plan and
grade control we expect to be able to lift production
substantially, up to 250,000 ounces.”
The Wardrop report also recommends two
phases of exploration designed to upgrade
and expand the resource with the first
phase focusing on increasing the level of
confidence in the shallower portion of the
resource and the second focusing on
deeper mineralization as well as additional
resources at depth and along strike.
Rod Husband says, “It’s an exciting time as
we are just months away from transforming
to a full-on production company and it’s really
largely because we are in China. You can’t do
that in North America – you have to wait for
engineering reports, obtain the capex and
then build the mill.
“Our partner, the company’s biggest
shareholder, has funded construction as we
progressed because he knows what’s there.
He’s been mining it for seven years on a
small scale and it’s just a matter of recognizing
the economies of scale and making
the operation bigger.”
He says Majestic is evaluating a couple of
other projects in China. “One of them is a
small open pit, cyanide leach operation in
southern China. We are doing due diligence
and think it has the potential to hold between
500,000 and 1 million ounces.
“We will have the cashflow to expand organically
from here and, as everyone knows, there
are tremendous opportunities in China. The
geological risk is low because you do deals on
existing mines that haven’t been explored
properly, so all you have to do is drill out the
resource then redesign the way to mine it.”
Rod Husband says Majestic is also considering
listing Chinese assets on the Hong
Kong exchange. “It seems Asian investors
through Hong Kong have a much more open
attitude towards foreign companies. It’s expensive
to list so you need projects worth at
least $100 million to make it worthwhile and
we are hopeful of getting to that stage.”
MisterB
13年前
Should be a Great Summer:
1) From here on in, Majestic's financials will be much better as the new mill started production at over twice the current throughput of the last financials. As we all know, this will grow from the approx 1200 Tonnes per day to 7200 tonnes per day. So, From here on in, we see financials growing to $20M+ Revenue per Quarter (not likely in Q3, but Q4). That is a good feeling!
--As an aside, Rod H did say in the Nov 2010 interview that the mill would start up mid 2011. He was dead on. Perhaps a new beginning of meeting dates? I give credit to Hibbits for that, for obvious reasons.
2) Q3 will be released at the end of August, so if people aren't aware of Majestic by then, they will start to get acquainted with Majestic from the Q3 Financial release forward. To that end, Q2 had lower revenue due to the Chinese new year (2 weeks of vacation for the chinese) and the focus on the new mill start.
3) Funding has to be close, but with Majestic where it is (Not quite reporting big numbers), I can't see a Hong Kong listing this year coinciding with funding. I do think they will do a round of financing on the TSXV or TSX, get the market cap up, then go for a RS (Rollback) and chinese listing at that time (2012). Just a gut feeling on that.
4) Reverse Split - I think there may be a special vote next year for that, in concert with the Chinese listing, as it is not an item to be voted on (at least not in the proxy for this meeting). The mill should be in full production mode, raising the Market cap, for this to happen most effectively.
So, what happens between June 2 and Sept 1 when the financials come out and a new Majestic is born in the public's eyes?
5) Warrants - We know warrants expire mid-July. We've seen twice the amount expire last October (and all exercised, with an increasing share price). I expect June and July will see a lot of promotion to absorb these shares just as we saw in October and last April. I would think we will have multi-million volume days again. They should and likely will still to what worked in the past.
On that note, we've seen Majestic's list of participants for the grand opening in May. I figure all of those parties will get something out over the next two months, in addition to the historical use of German and English newsletters. With Majestic opening and using this new mill, this really is the biggest milestone to date, and should move the stock.
6) AGM - Occurs next Thursday. Historically, Majestic releases news the week of the AGM. I expect they will not change their plan of attack. I'd love to see video, an new presentation, a new interview with Rod, etc. I've voted all my shares "with Management" and still have not sold 1 this year.
So, with the new mill processing Ore, the mine plan, licencing and chinese engineering report underway and likely almost complete, I am very comfortable holding my shares through the summer and into the fall and realistically, the best days should be in front of us. We also know drilling has or is taking place to define an extension of the resource, so we may see a bigger resource estimate, and to top it off, hopefully financing soon so the title can be transferred in whole (adding $40M to Majestic's assets)...
All in all, good stuff for the patient. I am hopeful the word gets out to the general public sooner than later, but will be holding this investment well into 2012...
B
MisterB
14年前
Sure Thing. Love the Mill Terms!
Really, this is already known if the SEDAR reports were read, aside from the hiring of the M&A Firm.
Majestic's Songjiagou PA suggests $4.5-million project
2011-03-14 01:32 ET - News Release
Mr. Rod Husband reports
MAJESTIC GOLD - CORPORATE UPDATE NEWS RELEASE
Further to its news release in Stockwatch of Jan. 20, 2011, MajesticGold Corp.'s preliminary assessment (PA) report prepared by Wardrop, aTetra Tech company, for the Songjiagou gold project located in Shandongprovince, People's Republic of China is now posted on SEDAR.
Key elements of the report are as follows:
Economic parameters
Net present value of $525-million (U.S.) using a 10-per-cent discount rate;
Internal rate of return of 78.6 per cent;
Payback in 1.4 years;
Total gold production of 2,324,000 ounces (average 105,645 ounces per year) for life of mine;
Life-of-mine strip ratio 1.87 to 1 (waste to mineral inventory);
Mine-life of 22 years $973 (U.S.) per ounce for the base case gold price for this study.
Recommendations
Exploration
Wardrop recommends two phases of exploration designed to upgrade and expand the existing resource.
Phase I will focus on increasing the level of confidence in theshallower portion of the existing resource. The all-inclusive cost ofthis phase is estimated to be $1-million.Phase II is the extension of the phase I program. The objectives of thisprogram are to increase confidence in the deeper mineralization and toidentify additional resources both at depth and along strike. Theall-inclusive cost of the second program is estimated to be$3.5-million.
Engineering
Wardrop recommends further engineering studies, including:
Mining
Studies to formulate concrete decisions on village relocations studies to obtain higher-resolution topographic data;
A trade-off study to optimize the production rate;
Detailed geotechnical study to determine overall pit slopes, interramp slope angles, bench face angles, bench heights and catch bench widths;
Detailed hydrology and hydrological studies to determine design of dewatering systems;
Evaluation of proposed waste dump based on geochemical characterization of waste rock, geotechnical, hydrological and hydrogeological information;
Detailed drilling and blasting studies to determine penetration rates, effective drill patterns, powder factors and explosive mix for the different rock types;
Further engineering study to optimize the size of backhoes and haul truck fleets;
Mining loss and ore dilution studies.
Metallurgy and process
Conduct a detailed testing program to study metallurgical performance, including:
Flotation tests for optimization of primary grind size and reagents, the effect of various regrinding arrangements on gold recovery and concentrate grade;
Gravity concentration tests to recover nugget gold;
Mineralization hardness determination;
Gold extraction by cyanidation to confirm the smelting terms;
Product plan optimization to maximize smelting return;
Install on-line automatic control systems for optimizing the floatation plant efficiency;
Upgrade current assay laboratory instrumentations and establish a metallurgical lab;
Tailings storage facility;
The under-construction TSF will service approximately four to five years at the rate of 7,400 tonnes per day;
Further studies for the tailings disposal for the remaining life of mine should be conducted;
Conduct a comprehensive environmental impact assessment for the project based on the proposed process rate;
Further studies on the fresh water supply, particularly during the dry seasons, as the project is located in a relatively dry area.
Majestic is planning to commence phase I of the recommended explorationprogram as soon as practical. Wardrop's recommendations for theengineering programs will be included in the Chinese geology andengineering studies currently under way while concurrently pursuing themining licenses required for the process rate of 7,400 tonnes per day.
"We are pleased with Wardrop's findings and recommendations and areexcited to be moving our company toward becoming a significant goldproducer," stated Rod Husband, president of Majestic Gold.
The complete report is available at SEDAR and on Majestic's website.
Mike Hibbitts, PGeo, vice-president, development and exploration, and adirector of Majestic, has read and approved the information in this newsrelease.
The company is pleased to provide the following update on operations:
Financial information
For the first quarter ending Dec. 31, 2010, the company had currentassets of $6,148,255 ($4,920,964 cash) and a working capital position of$3,764,085 compared with current assets of $3,512,728 ($1,791,845 cash)and working capital deficiency of $975,436 as at year ended Sept. 30,2010.
Gold revenue from the Songjiagou mine for the three months ended Dec. 31, 2010, was $1,899,832 on the sale of 1,403.48 ounces.
Expenses for the three months ended Dec. 31, 2010, were $2,803,782,resulting in a net loss of $1,451,165 for the period. The increase inexpenses was primarily due to operation costs of $1,302,714 for thethree months ended Dec. 31, 2010, related to contract mining costs atthe Songjiagou mine.
General and administrative expenses were $1,493,909 for the three monthsended Dec. 31, 2010, which included $762,995 (MMK Financial $419,795and Russlan Fajsiev $343,200) in fees paid in association with thewarrant exercise of share purchase warrants totalling 95,540,140 forproceeds of $9,554,014. The fees were paid for services which includedthe introduction to original warrant holders of persons prepared toacquire and exercise outstanding warrants, negotiating the financialterms of the purchase of such warrants by such persons from the originalwarrant holders, and co-ordinating those sales and the subsequentexercise of the warrants.
On April 8, 2008, the company issued an unsecured note payable of$2-million to RAB as part of obtaining financing for the purpose ofmaking the company's final capital contribution to Yantai ZhongjiaMining Inc., the Chinese joint venture company that holds the rights tothe Songjiagou mineral property. During the three months ended Dec. 31,2010, the loan was fully repaid from the proceeds from the exercise ofwarrants.
Addendum to Dahedong joint venture agreement
The company has secured an addendum to the Feb. 11, 2010, agreementbetween its Chinese subsidiary (JVCo) and Dahedong smelter mill for theacquisition of an additional interest in the Songjiagou mine fromDahedong smelter mill and related matters. The addendum, which wassigned with effect from Feb. 11, 2010, outlines specific changes to theoriginal agreement as follows:
Pursuant to the profit sharing agreement made as of Sept. 1, 2010, it was agreed the company would advance further funds to JVCo by way of capital contributions to finance the expansion of operations including construction of the new mill;
Dahedong agreed that:
Dahedong will construct one new mill and related facilities with an output of approximately 6,000 tonnes per day at a budgeted cost of $50-million;
Dahedong shall complete the procedures for the acquisition and lease of land to be occupied by the new mill, obtain necessary approvals, complete filing procedures, and co-ordinate the supply of utilities such as water and electric power for the new mill;
Dahedong shall be responsible for 25 per cent of the costs incurred in the construction of the new mill including permitting, leasing and licensing costs, and JVCo shall be responsible for 75 per cent of construction costs;
Ownership of the new mill shall be vested in JVCo;
Dahedong will be responsible to pay all construction costs in the first instance;
JVCo will reimburse Dahedong for 100 per cent of JVCo's share of construction costs out of JVCo's share of net profits before any net profits are paid or distributed by JVCo to the company;
JVCo's share of construction costs will be paid only from JVCo's share of net profits so that no cost, expense or other liability will accrue to or be payable by JVCo otherwise than out of net profits;
JVCo will pay to Dahedong a financing fee equal to 10 per cent of JVCo's share of construction costs out of JVCo's share of net profits after JVCo's share of construction costs have been paid in full and before any net profits are paid or distributed by JVCo to the company;
Title to the new mill shall not be transferred to JVCo until JVCo has reimbursed Dahedong for JVCo's share of construction costs out of JVCo's share of net profits;
JVCO shall have the right, but not the obligation, to pay or reimburse Dahedong for all or any portion of JVCo's share of construction costs from other sources of funding which may be available to JVCo from time to time. This amendment will allow the project development to continue uninterrupted while Majestic seeks the required financing.
"This amendment demonstrates our partners commitment to both the projectand to Majestic," stated Mr. Husband, president of Majestic. "We lookforward to rapidly developing our project and increasing productionlevels."
The company is also pleased to announce that it has retained theservices of Vicarage Capital Ltd. of London, England, to advise it onM&A (mergers and acquisitions) issues with the objective ofnegotiating a merger with a larger company with greater financialresources or entering into a joint venture or other form of strategicalliance to advance its Songjiagou project, and to assist it innegotiations in those regards. The company has agreed to pay Vicarage atotal of $150,000 over the one-year term of the contract.
TA_Sleuth
14年前
Lebed Alert - MJS: rapidly growing producing China gold play!?
Majestic Gold Corp, currently $0.19, trades on the TSX Venture under the symbol MJS and on the pink sheets under the symbol MJGCF. MJS has 499.83 million shares outstanding and a market cap at $0.19 of only $94.97 million.
MJS is a producing gold company with a gold deposit in Shandong province of China. MJS recently increased its ownership of the Song Jiagou property in China from 54 to 94 % and commenced production at an initial rate of 1,400 tpd.
MJS's revenues during the most recent twelve months were $7.59 million. MJS currently has a mill expansion project underway that will increase their production by 5,000 tons per day within the next six months. MJS expects to increase mill production from 1,400 tons per day to 7,400 tons per day.
MJS recently increased its indicated tonnes by 35.34% and inferred tonnes by 37.96%, increasing its total resource base from 53 million tonnes to 72.5 million tonnes!
MJS's Song Jiagou property contains 1.2 million indicated ounces of gold and 1.8 million inferred ounces of gold for a total resource of 3 million ounces of gold. At its current market cap, MJS is being valued at only $31.66 per ounce of gold in its resource base, which is ridiculously low for a producing and rapidly growing gold company in China, especially with gold rapidly approaching $1,500 per ounce!
MJS recently reported a positive Preliminary Assessment for the Song Jiagou mine indicating a Net Present Value of US $525 million, a Internal Rate of Return of 78.6%, a Payback in 1.4 years, and total gold production of 2.324 million ounces (average 105,645 oz/yr) for the life of the mine of 22 years.
MJS is rapidly moving towards increasing its production to 100,000 ounces of gold per year and the new mill that is currently being constructed will play a major role in helping MJS achieve this goal!
MJS's Song Jiaguo Property is located on the Jiaodong Peninsula in Muping County, the Shandong Province, the People's Republic of China. The property lies on the western edge of the Muping-Fushan Gold Belt, which hosts 20% of the known gold deposits on the Jiaodong Peninsula.
Gold production from the entire peninsula accounts for over 25% of China's annual gold production, presently estimated to be 288 tons or 9.3 M ounces. Gold deposits in the belt are commonly controlled spatially by fault zones.
Gold mineralization on Song Jiaguo is hosted by a series of steeply dipping, sub-parallel north-northeast trending fault zones within upper Cretaceous conglomerates overlying Proterozoic granitic rocks. The area of Song Jiaguo is interpreted as being the higher levels of a mesothermal system where gold bearing fluids have mineralized the matrix of the host conglomerates. The gold bearing quartz veins would then likely continue to much lower levels in the system.
To the south of the property, the Pengjiakuang Gold Deposit (>650,000 oz) occurs in the same structural environment within Cretaceous Laiyiang conglomerates which underlie the Song Jiaguo Property.
MJS has a strong balance sheet with $5.09 million in cash and no debt!
Be sure to start your research on MJS immediately! MJS appears to be undiscovered at this time, but I believe it could become one of our biggest TSX winners of 2011!
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