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Category: Junior: Small Producer
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Majestic Gold Corp
www: www.majesticgold.net     email: info@majesticgold.net

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Notes
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Price Data

Symbol Date Price Change 52 Wk Range Volume
OTCMKTS:MJGCF 04/17/2015 USD 0.0230 0.0010 0.0900 - 0.0200 33
CVE:MJS 04/14/2015 CAD 0.040 0.005 0.120 - 0.030 14,169
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Summary (from last analysis - 04/27/2014)

Majestic Gold is a small producer in China. They are currently producing 20,000 oz (they get 75%) and should reach full production of 105,000 oz in about 18 months. Their Song Jiagou flagship project in China is supposed to be a low cost mine with high cash flow of more than $75 million for 22 years (at higher gold prices). The capex for expansion is very low at around $50 million. With a FD market cap of $85 million, they are selling for about 1x cash flow once full production is reached. Thus, it does have upside potential.

They do not have a pipeline and they have extreme share dilution (1.1 billion shares), which could keep investors away. Also, the location of China is not considered a safe investment location for many investors. However, if they have some exploration success and can expand the resource beyond 3 million oz (75% = 2.25) and expand production to 150,000 oz (75% = 110,000 oz), that could easily boost this stock to 5 bagger territory. It's not an exciting stock, but it does have potential from that very long cash flow stream.

General Details

Financial 04/27/2014
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Mkt. Cap (Fully Diluted): $84.69M $35.94M 04/27/2014 $-48.75M
Total Assets: $87.61M $96.83M 12/31/2014 $9.22M
Total Liabilities: $15.27M $44.03M 12/31/2014 $28.76M
Current Assets: $30.15M $13.52M 12/31/2014 $-16.63M
Current Liabilities: $11.58M $23.59M 12/31/2014 $12.01M
Total Debt: $23.00M $19.24M 12/31/2014 $-3.76M
Cash: $12.00M $9.68M 12/31/2014 $-2.32M
Enterprise Value: $95.69M $45.50M 06/11/1971 $-50.19M
Cash Flow: $-1.02M $-2.05M never $-1.04M
Cash Flow Multiple: 0.00 0.00 never 0.00
Net Debt to Cash Flow Ratio: n/a n/a never 0.00
Finance within 1 year: 04/27/2014 n/a
Misc 04/27/2014
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Share Price: $0.077 $0.033 10:04 on 04/14/2015 $-0.04
Shares Outstanding: 840,000,000 839,770,000 12/31/2014 -230,000
Shares Fully Diluted: 1,100,000,000 1,100,000,000 04/27/2014 0
Company Type: Mostly Gold Mostly Gold never n/a
Production ETA: n/a n/a 04/27/2014 n/a
Production (Gold Eq Oz.): (guess) 
15,000
(guess) 
15,000
04/27/2014 0
Production (Silver Eq Oz.): (guess) 
993,270
(guess) 
1,110,369
04/27/2014 117,099
Initial CapEx (Outstanding): $64.00M
75.57% of Mkt.Cap
$64.00M
178.07% of Mkt.Cap
04/27/2014 $0.00M
Funding Option: n/a n/a 04/27/2014 n/a
Tax Rate: (guess)  30.00% (default)  30.00% 04/27/2014 0.00%

Resource Data

GOLD 04/27/2014
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: n/a n/a 04/27/2014 0.00M
Measured & Indicated: 0.95M 0.95M 04/27/2014 0.00M
Inferred: 1.30M 1.30M 04/27/2014 0.00M
Reserves & Resources: 2.25M 2.25M never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: n/a n/a 04/27/2014 0.00M
Measured & Indicated: 0.65M 0.65M 04/27/2014 0.00M
Inferred: 0.55M 0.55M 04/27/2014 0.00M
Reserves & Resources: 1.20M 1.20M never 0.00M
C
U
R
R
E
N
T
Annual Production: (guess) 
15,000oz.
(guess) 
15,000oz.
04/27/2014 0oz.
Cash Cost: $900 $900 04/27/2014 $0.00
Extra Operating Cost: $500 $500 04/27/2014 $0.00
Average Grade: 1.20 g/t 1.20 g/t 04/27/2014 n/a
Recovery Rate: (CG)  85.00% (CG)  85.00% 04/27/2014 0.00%
F
U
T
U
R
E
Proven & Probable: 1.50M 1.50M 04/27/2014 0.00M
Annual Production: 75,000oz. 75,000oz. 04/27/2014 0oz.
Cash Cost: $800 $800 04/27/2014 $0
Extra Operating Cost: $400 $400 04/27/2014 $0
SILVER 04/27/2014
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: n/a n/a 04/27/2014 0.00M
Measured & Indicated: n/a n/a 04/27/2014 0.00M
Inferred: n/a n/a 04/27/2014 0.00M
Reserves & Resources: n/a n/a never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: n/a n/a 04/27/2014 0.00M
Measured & Indicated: n/a n/a 04/27/2014 0.00M
Inferred: n/a n/a 04/27/2014 0.00M
Reserves & Resources: n/a n/a never 0.00M
C
U
R
R
E
N
T
Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 04/27/2014 $0.00
Extra Operating Cost: n/a n/a 04/27/2014 $0.00
Average Grade: n/a n/a 04/27/2014 n/a
Recovery Rate: n/a n/a 04/27/2014 0.00%
F
U
T
U
R
E
Proven & Probable: n/a n/a 04/27/2014 0.00M
Annual Production: n/a n/a 04/27/2014 n/a
Cash Cost: n/a n/a 04/27/2014 n/a
Extra Operating Cost: n/a n/a 04/27/2014 n/a

Property

Last Analysis Data  (04/27/2014)
Stage Location Name Owned Type Gold Silver Notes
Production Muping County, China (PR) Song Jiaguo 75% Open Pit show
Currently producing 20,000 oz. PEA to increase that to 105,000. They will get 75%.
Current Data
Stage Location Name Owned Type Gold Silver Notes
Production Muping County, China (PR) Song Jiaguo 75% Open Pit show
Currently producing 20,000 oz. PEA to increase that to 105,000. They will get 75%.

Profitability (by resource)

Proven &
Probable
04/27/2014
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: n/a n/a n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): n/a n/a n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 0.00M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: n/a n/a n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 0.00M
Maximum Profit (Gold): n/a n/a n/a $0.00M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: n/a n/a n/a $0.00M
Max Profit / Current MCap: n/a n/a n/a 0.000
Max Profit Per Share (Gold): n/a n/a n/a $0.00
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: n/a n/a n/a $0.00
Total Free Profit Per Share: n/a n/a n/a $0.00
FD Mkt. Cap / Gold Eq.: n/a n/a n/a $0.00
FD Mkt. Cap / Silver Eq.: n/a n/a n/a $0.00
FD Mkt. Cap / Per Metal
as % Spot Price:
n/a n/a n/a 0.00%
Measured &
Indicated
04/27/2014
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 0.95M 0.95M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 7.42M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 0.65M 0.65M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 5.04M
Maximum Profit (Gold): $-43.79M $-88.46M n/a $-44.67M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $-43.79M $-88.46M n/a $-44.67M
Max Profit / Current MCap: n/a n/a n/a -1.944
Max Profit Per Share (Gold): $-0.04 $-0.08 n/a $-0.04
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $-0.04 $-0.08 n/a $-0.04
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD Mkt. Cap / Gold Eq.: $131.10 $55.64 n/a $-75.46
FD Mkt. Cap / Silver Eq.: $1.98 $0.75 n/a $-1.23
FD Mkt. Cap / Per Metal
as % Spot Price:
10.06% 4.62% n/a -5.44%

Reserves &
Resources
04/27/2014
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 2.25M 2.25M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 17.56M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 1.20M 1.20M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 9.36M
Maximum Profit (Gold): $-81.24M $-164.12M n/a $-82.88M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $-81.24M $-164.12M n/a $-82.88M
Max Profit / Current MCap: n/a n/a n/a -3.607
Max Profit Per Share (Gold): $-0.07 $-0.15 n/a $-0.08
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $-0.07 $-0.15 n/a $-0.08
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD Mkt. Cap / Gold Eq.: $70.67 $29.99 n/a $-40.68
FD Mkt. Cap / Silver Eq.: $1.07 $0.41 n/a $-0.66
FD Mkt. Cap / Per Metal
as % Spot Price:
5.42% 2.49% n/a -2.93%

Future Valuation (Cash Flow & Totals)

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