Bedenklich:
- Das Onsite Probenlabor ist seit July2013 fertig, trägt aber (zumindest bis Ende September 2013) nullkommanull zu einem erhöhten Goldgrad bei.
- Die cashcosten sind sogar von 996 auf 1100$/Unze gestiegen !!!
- Die angekündigte Analyse der ganzen Prozesse wird sich bis ins 3.Q/2014 hinziehen, dann erst Ergebnisse.
Positiv:
- Immerhin noch 16 Mio$ Cash übrig
Das Zahlenwerk verdeutlicht noch mal, wie wichtig es war die Reißleine gezogen zu haben. Die beiden Gangster R&R hätten es geschafft die Firma innerhalb diesen/spätestens nächsten Jahres in die Insolvenz zu fahren mit ihren Traumschlössern, oder aber noch einmal ein paar Hundert Millionen Aktien von dummen Asiaten einzusammeln. Fast 1,6 Mio$ NUR für Reisekosten für ein paar Leutchen, ist der reine Wahnsinn, aber man gönnt sich ja sonst nichts, da müssen es dann wohl schon FirstclassSuperior Flüge und erstklassige Hyper-Luxus-Hotels sein und Geisha RundumdieUhr Betreuung natürlich...
Bedenklich ist, daß sie es anscheinend einfach nicht schaffen den Goldgrad zu erhöhen. Ende Februar kommt Q1 2014 (d.h. Quartals Produktion bis Ende Dezember 2013). Es ist zu vermuten, daß sich auch da noch nichts getan hat, aber lassen wir uns überraschen...
Zusammenfassung:
Gold production from the Songjiagou Gold Mine was 19,611 ounces for the year ended September
30, 2013, compared to 18,925 ounces produced for the comparative year;
-§Tonnes of ore milled was 1,872,396 tonnes for the year ended September 30, 2013, compared to
1,950,987 tonnes milled for the comparative year;
-§Gold sales revenue for the year ended September 30, 2013, was $25,387,862 from the sale of
16,894 ounces at an average realized gold price of $1,503 per ounce compared to revenue of
$31,116,445 from the sale of 18,607 ounces at an average realized gold price of $1,672 per ounce for
the year ended September 30, 2012;
-§Gross profit was $6,372,024 for the year ended September 30, 2013, compared to $11,828,271 for
the year ended September 30, 2012;
-§Cash costs were $1,101 per ounce for the year ended September 30, 2013, compared to $996 per
ounce for the year ended September 30, 2012;
-§The onsite assay lab was completed in July 2013
-§The Company completed the exchange provided for in the Agreement with Yantai Dahedong
Processing Co. Ltd. (“Dahedong”). As a result, Dahedong now holds a 25% equity stake in the
Company’s Chinese subsidiary, Yantai Zhongjia Mining Co. Ltd., in place of the 25% Net Profits
granted to it in 2010;
-§SRK Consulting China Ltd. completed, for the Company, a NI 43-101 Technical Report in support of
the Preliminary Economic Assessment for the Songjiagou Gold Project located in Shandong
Province. - The seven nominee directors named in the Concerned Shareholder Information Circular dated
November 8, 2013 were elected as directors of the Company by over 99% of the votes cast at the
Annual General Meeting of Shareholders on November 21, 2013. As a result, the board of directors
of Majestic is now comprised of Gengshu Miao, Shaohui Chen, Paul Reynolds, Grant Chen, John
Campbell, Stephen Kenwood and Lorne Hunter. Mr. Miao has been re-appointed Chair of the Board,
Mr. Reynolds has been appointed President and Chief Executive Officer and James Mackie was reappointed as Chief Financial Officer and has also been appointed as Corporate Secretary
OUTLOOK
In 2014, the Company will be reviewing its operations at the Songjiagou Mine in an effort to more fully realize the potential of the Project. The Company expects the review process will be completed during the third quarter of 2014, with the implementation of any necessary changes to begin during the fourth quarter of 2014
In December 2013, management began a comprehensive review of its general and administrative expenses to identify and implement opportunities of cost savings for the Company. To date, management has implemented cost saving actions and will begin to realize the savings starting in January 2014. Management will continue to work to identify and evaluate further cost saving opportunities.
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