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Category: Junior: Emerging Mid-tier Producer
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Majestic Gold Corp
www: www.majesticgold.net     email: info@majesticgold.net

Profile
Notes
Wiki

Price Data

Symbol Date Price Change 52 Wk Low 52 Wk High Volume
OTCMKTS:MJGCF 04/15/2014 USD 0.072 0.004 0.040 0.140 17,800
CVE:MJS 04/14/2014 CAD 0.085 0.000 0.040 0.160 713,368
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Summary (from last analysis - 04/27/2013)

Majestic Gold is an emerging mid-tier producer. They should reach full production of 105,000 oz (they get 75%) in about 18 months. Their Song Jiagou flagship project in China is a very low cost mine ($400 per oz) and will produce high cash flow of more than $75 million for 22 years (if gold prices remain high). The NPV of the project is $975 million at $1500 gold. The capex is very low at $64 million. With a fully diluted market cap of only $151 million, they are selling for about 2x cash flow once full production is reached. Thus, it should be an easy 2 bagger if gold prices rise.

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.
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General Details

Financial 04/27/2013
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Mkt. Cap (Fully Diluted): $146.00M $85.18M 04/27/2013 $-60.83M
Total Assets: $87.61M $87.61M 04/27/2013 $0.00M
Total Liabilities: $15.27M $15.27M 04/27/2013 $0.00M
Current Assets: $30.15M $30.15M 04/27/2013 $0.00M
Current Liabilities: $11.58M $11.58M 04/27/2013 $0.00M
Total Debt: $14.00M $14.00M 04/27/2013 $0.00M
Cash: $17.00M $17.00M 04/27/2013 $0.00M
Cash Flow: $6.43M $4.74M never $-1.69M
Cash Flow Multiple: 22.71 17.99 never -4.73
Finance within 1 year: 04/27/2013 n/a
Misc 04/27/2013
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Share Price: $0.133 $0.077 15:04 on 04/14/2014 $-0.06
Shares Oustanding: 840,000,000 840,000,000 04/27/2013 0
Shares Fully Diluted: 1,100,000,000 1,100,000,000 04/27/2013 0
Company Type: Mostly Gold Mostly Gold never n/a
Production ETA: n/a n/a 04/27/2013 n/a
Production (Gold Eq Oz.): (guess) 
15,000
(guess) 
15,000
04/27/2013 0
Production (Silver Eq Oz.): (guess) 
915,407
(guess) 
996,187
04/27/2013 80,780
Initial CapEx (Outstanding): $64.00M
43.83% of Mkt.Cap
$64.00M
75.14% of Mkt.Cap
04/27/2013 $0.00M
Funding Option: n/a n/a 04/27/2013 n/a
Tax Rate: (guess)  30.00% (default)  30.00% 04/27/2013 0.00%

Resource Data

GOLD 04/27/2013
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 04/27/2013 0.00M
Measured & Indicated: 0.95M 0.95M 04/27/2013 0.00M
Inferred: 1.30M 1.30M 04/27/2013 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 04/27/2013 0.00M
Measured & Indicated: 0.65M 0.65M 04/27/2013 0.00M
Inferred: 0.55M 0.55M 04/27/2013 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.
04/27/2013 0oz.
Cash Cost: n/a n/a 04/27/2013 $0.00
Extra Operating Cost: n/a n/a 04/27/2013 $0.00
Average Grade: 1.20 g/t 1.20 g/t 04/27/2013 n/a
Recovery Rate: (actual)  85.00% (actual)  85.00% 04/27/2013 0.00%
F
U
T
U
R
E
Proven & Probable: 2.00M 2.00M 04/27/2013 0.00M
Annual Production: 75,000oz. 75,000oz. 04/27/2013 0oz.
Cash Cost: $450 $450 04/27/2013 $0
Extra Operating Cost: $400 $400 04/27/2013 $0
SILVER 04/27/2013
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 04/27/2013 0.00M
Measured & Indicated: n/a n/a 04/27/2013 0.00M
Inferred: n/a n/a 04/27/2013 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 04/27/2013 0.00M
Measured & Indicated: n/a n/a 04/27/2013 0.00M
Inferred: n/a n/a 04/27/2013 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 04/27/2013 $0.00
Extra Operating Cost: n/a n/a 04/27/2013 $0.00
Average Grade: n/a n/a 04/27/2013 n/a
Recovery Rate: n/a n/a 04/27/2013 0.00%
F
U
T
U
R
E
Proven & Probable: n/a n/a 04/27/2013 0.00M
Annual Production: n/a n/a 04/27/2013 n/a
Cash Cost: n/a n/a 04/27/2013 n/a
Extra Operating Cost: n/a n/a 04/27/2013 n/a

Property

Last Analysis Data  (04/27/2013)
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
04/27/2013
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
04/27/2013
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 5.12M
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 3.48M
Maximum Profit (Gold): $276.84M $203.95M n/a $-72.89M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $276.84M $203.95M n/a $-72.89M
Max Profit / Current MCap: 1.896 2.394 n/a 0.498
Max Profit Per Share (Gold): $0.25 $0.19 n/a $-0.07
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $0.25 $0.19 n/a $-0.07
Total Free Profit Per Share: $0.12 $0.10 n/a $-0.02
FD Mkt. Cap / Gold Eq.: $226.01 $131.85 n/a $-94.16
FD Mkt. Cap / Silver Eq.: $3.70 $1.99 n/a $-1.72
FD Mkt. Cap / Per Metal
as % Spot Price:
15.46% 10.13% n/a -5.32%

Reserves &
Resources
04/27/2013
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 12.12M
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 6.45M
Maximum Profit (Gold): $513.61M $378.38M n/a $-135.23M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $513.61M $378.38M n/a $-135.23M
Max Profit / Current MCap: 3.518 4.442 n/a 0.924
Max Profit Per Share (Gold): $0.47 $0.34 n/a $-0.12
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $0.47 $0.34 n/a $-0.12
Total Free Profit Per Share: $0.33 $0.26 n/a $-0.07
FD Mkt. Cap / Gold Eq.: $121.82 $71.07 n/a $-50.75
FD Mkt. Cap / Silver Eq.: $2.00 $1.07 n/a $-0.93
FD Mkt. Cap / Per Metal
as % Spot Price:
8.33% 5.46% n/a -2.87%

Future Valuation (Cash Flow & Totals)

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