Majestic Gold Corp (MJS)

[MisterB]

New March 2001 Presentation. Mills Complete...

Amazing what you can find when you look for it. Not sure why it is not on their website (or wasn't this morning).

Nice to see updated pictures of the mill from February 2011. The mill pretty much looks done.

A lot of info is coming from the Preliminary Assessment.

http://www.slideshare.net/gcgroup/majestic-gold-march-2011

[MisterB]

Q1 Financials out on SEDAR (Oct-Dec)

$2M revenue, large CAPEX related to Yantai mill construction costs.

Stepped acquisition format. Very smart and risk mitigating.

Good read for Investors...

B

[MisterB]

Technical Report out on SEDAR!

Very interesting information with Economics, technical details, pictures, etc.

A must read for any investor.

Bottom line - NPV of $525M trading at $110M market Cap.

B

[MisterB]

New Website and updated Presentation shortly?

Tranlate:

Brainstream

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schrieb am 13.02.11 18:59:07 wrote on 13:02:11 18:59:07
Beitrag Nr.3412 Review Nr.3412
(41.032.036) (41.032.036)


Die Company ist dabei, die website neu zu gestalten. The Company is in the process to design the new website.
Danach sollen auch die Quartalsberichte, etc. dort abrufbar sein. Under this regime, the quarterly reports, etc. there are available.
An updated presentation from which the time horizon regarding gold production, cash flow and earnings projection to emerge, will soon also be available according to specification.
So I wrote accordingly Investor Relations, Varun Chandran. The publication of the original mail is not allowed, which is inside Sun I have therefore given only to the content again).

B

Also, an interview with the CEO from Nov 2010:

B

[MisterB]

From my understanding, now that they received the $9.5 Million from exercised warrants, they will be actively promoting and updating shareholders on a more frequent basis.

A lot is apparently going on, but shareholders haven't been updated in some time. I do hope they start to keep shareholders more informed...

B

[kenjays]

Thinking the pps is stuck in gold mud,price should be much higher than this............KENJAYS

[MisterB]

100,000 oz Gold Production starting April:

Vancouver, British Columbia, September 23rd, 2010 – “Majestic Gold Corp” or the “Company”. (TSX.V: MJS) (“Majestic”) ") is pleased to provide shareholders with an update on corporate activities.
Milestones achieved 2010 Year to date:
• Increase of resources to 24.9 Mi tonnes @ 1.25 g/t (1,002,694 oz Au) indicated and 28.1 Mi tones @ 1.883 g/t (1,703,174 oz Au) inferred
• Agreement to Acquire remaining 40% interest in Song Jiagou mining project (agreed, approved and closed)
• Continued mining operations since January – total of 4,265 ounces of gold with an average sale price of USD $1,170 per ounce (revenues of ~ $5 million) to August 31, 2010
• Transfer of mining license to JV Co and revised corporate structure approved by Chinese government
• Second installment of RMB 15,000,000 (approximately $2,100,000) from sale of Sawayaerdun received in China
The Company has continued to focus its efforts on the development of the Song Jiagou mining property, increasing tonnage by excess of 138% increase and a 112% increase in contained gold, and a 15% increase in tonnage in the Inferred category but a 228% increase in contained gold.
In addition, the Company received TSX approval to proceed with the agreement to increase its interest in Yantai Zhongia Mining Enterprise (“Yantai”) from 54% to 94%. The Company recently completed the issuance of the shares to the vendors.
Pursuant to the same agreement, the Company has received all required approvals for the transfer of the mining license to Yantai and the revisions to the corporate structure. This is a very significant milestone as it allows for Yantai to officially mine, process, and sell gold within China.
Further to its agreement to acquire the remaining interest in the project, the Company and its mining contractor have been operating test mining at an average rate of over 1,150 tons per day since January 2010 at Song Jiagou. As of August 31 of this year the Company has produced 4,265 ounces of gold with an average sale price of USD $ 1,170 per ounce.
With initial production underway at Song Jiagou, the Company and its mining contractor partner, have been developing plans to increase the size of its processing facilities including a mill,
730 – 1130 West Pender Street
Vancouver, B.C. Canada V6E 4A4
Telephone: [phone]
Facsimile: 604-568-4902
Email: [e-mail]
2
tailings storage facility, new tailings line, water and power supply in anticipation of increasing its production to approximately 7,500 tonnes per day.
The new mill is designed to produce 6,000 tonnes per day in addition to the existing capacity. Simultaneously, the Company is building new tailings storage facilities capable of containing the current resources as well as providing additional capacity for future expansion. Construction of the mills and concentrator has moved ahead with break-neck speed -- 40% of the steel and concrete form has been completed within the period of two and a half months.
With revenues to date of over USD $5,000,000 and well advanced mine expansion plans, the Company will move its engineering studies forward as quickly as possible in order to maintain the shortest timelines possible to fully develop Song Jiagou.
In addition to the developments at Song Jiagou, the Company has received the second installment from the sale of its Sawayaerdun project (see Sept 18, 2009 news release). The Company continues to work with its legal counsel to close the JV company according to Chinese regulations and requirements in order to repatriate the proceeds.
The geological and technical information contained in this news release has been reviewed and approved by Michael 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.
Signed "Rod Husband"
Rod Husband,

[MisterB]

Scoping Study: $525M NPV.

German Newsletter received jan 27th. Also, Oxford Club is following MJS:

German Research Firm (Translated).

Majestic Gold: Net Present Value now at $ 525 million!
Highlights

*For the song Jiangou project could MAJESTIC GOLD (WKN A0BK1D) been aresource of more than 3 million ounces of gold at a show in situ valueof $ 4 billion
* Already in the first 9 months of 2010, MAJESTIC GOLD 4 `700 oz gold production and retract revenues of $ 5.4 million
*A mill is under construction already completed to 80% and the capacitywith the completion of 1 `400` 400 tonnes to 7 tonnes more thanfivefold
* With a targeted production of 100 `000 ounces of gold pa andproduction cost below $ 500 an ounce MAJESTIC GOLD is aiming at anannual profit of about $ 80 million, which would push the P / E of thetitle on a
*Independent consultants are highly topical in the context of a scopingstudy for the project has a Net Present Value of $ 525 million charge,while the market cap of MAJESTIC GOLD at just $ 130 million is
*Golden Eye Research analysts have issued a research update from themiddle of this week for a fair value of MAJESTIC GOLD CAD 1:05, and along-term target price of CAD 3.00 - more than ten times the currentprice
*The experts of the market letter COMMODITY STOCKS INVESTOR graduallyMAJESTIC GOLD (WKN A0BK1D) as the one of the top favorites in the goldsector in 2011 and take the value in the new edition at the weekend inthe highly successful model portfolio!


Dear Reader,


Chart GoldBei Majestic MAJESTIC GOLD should be the go-ahead to the next level fell in the revaluation process! Already last year was the share of the top performers in the market and is currently trading in the range of CAD 0:25 six times higher than inearly 2010 after the company was able to report in the last 12 months,a number of strong messages. But first things first: the main asset of the Canadian society is Jiangou song, which is located in Yantai in the north of Shandong province,which represents 25% of China's total gold production, and therefore2.5 million per year of 9.3 million ounces of gold. In April last year had his MAJESTIC GOLD resource calculation to NI 43-101international standard at more than 2.7 million ounces increased. Based on new drilling of the resource estimate could in October are set once again to more than 3 million ounces of gold up to a current gold price of just $ 1 `350 per ounce, an in situ value of as much as $ 4 billion . match. There seems to be the current market cap of just $ 130 million too low,especially since the Company has long existed at the producer status:

Proceeds Majestic Gold

Already in the first 9 months of last year could MAJESTIC GOLD whopping 4 `700oz produced gold and so enter revenue of $ 5.4 million! This gave the company from a previous production of around 550 ounces of gold per month, were processed for the day about 1 `400 tonnes of ore. But currently, a third mill is under construction, which is already 80%completed and the daily flow with a shock of 1 `400` 400 tonnes to 7tonnes to more than fivefold. What would that mean for the gold production of MAJESTIC GOLD, you can count on one hand: The new mill could be the Company to rise in coming years into a major gold producer with an output of 100 `000 ounces of gold per year, the existing and tested occurrence would allow a mine producing more than 20 years to earn in which the company a fortune is because: upon advice of production costs of less than USD 500 per ounce would be the planned gold production based on the current gold price of 1 on USD `300 annual profit allow at least $ 80 million! Thus, the P / E ratio of the stock in the first year would fall back at full capacity to just first This is ridiculous, but examination showed that gold producers valued at a multiple. Hold on tight:

Majestic Gold News Release

Click here for the new research Update Im part of a Preliminary Assessment Study, an independent expert team of the project Songjiagou MAJESTIC GOLD with a net present value of USD rich has certified 525 million -four times more than the current market cap! The engineers go from a mine life of 22 years, from an average annual production of more than 105 `000 ounces of gold and a total production of 2,324 million ounces of gold and assume in their calculations a gold price of just USD 973 per ounce! The analysts of the research house Golden Eye have taken the current PA-study as a reason for further research update and in the past week its buy recommendation for MAJESTIC GOLD again expressly confirmed in progress at the operational level since the commencement of coverages in March 2010 as " enormous, "classified. In the study confirm the analysts current fair value of the share of CAD1.05 and flags long-term target price of CAD 3:00 - more than ten times the current market price! Makesure you are in the story on hand, as for the current year, further important milestones on the agenda, which should propel the stock price in the direction of its fair value: In the spring followed by further geological studies before in the first half of the new processing plant is put into operation. And that's still not all: Recent test drilling north of the existing defined deposits have shown an expansion of the gold mineralization to the north - an area in which Majestic Gold had yet been made absolutely no drilling. Should now confirm the planned drilling program in this area, the recent data,could the current resource estimate of more than 3 million ounces in the next 12-24 months will be further increased significantly. MAJESTIC GOLD already has with analysts' price targets to CAD CAD 3:00 over a `000% upside potential!

http://www.majesticgold.net/pdf/MJS_JAN_2011_PPT.pdf
http://www.majesticgold.net/homephoto2.html

[MisterB]

2011 - 3M oz, 100,000 oz/year starting April 2011.

In 2010, Majestic went from .04 to .28.

-Majestic started test production at about 1200 Tonnes per day
-Majestic completed 75% of a new 6000 Tonne per day mill and tailings storage facility
-Majestic completed an acquisition of an additional 40% of the Song Jiagou project - to 94%
-Majestic closed $9M in financing (warrants), paid off the $2M RAB loan, and received most of the Sawayaerdun sale proceeds.
-Majestic & Wardrop completed two 43-101 technical reports, with the most recent at 3M oz AU (I&I)

2011 promises to be another great year.


-- Monday Feb 28th: Q1 FY 2011 Quarterly financials (Oct - Dec). Based on the website presentation, shareholders should see: $2.3M Rev's, $481k Operating Income, net less of??? due to CAPEX

--Drilling results: Feb, March ???: Shareholders know from the interview that drilling has commenced and gold extends to the north of the property. Results were supposed to be out "shortly" after the Nov 18th interview, but have yet to be released. Are they planning a full on drilling program to increase the overall resources? To move resources from I&I to M, to P&P? I say so - because of 4).

-- Scoping study released with NPV of $525M. Much of this data will be used to complete the pre-feas study, so moving resources from I&I to M, and to Probable and proven is key. Thus, a drilling program is needed.
-On that note, I hope we do see that Pre-Feas study out in the next couple months to solidify the NPV number and increase certainty of the the resources (especially inferred). Release March/April???

--Completion of Mill & commencement of full capacity operations - due for "Spring", "April Quarter", as per the presentation.

--Tues, May 31st: Q2 financials: The first using the scoping study, and last before starting up the new mill. Forecast of $3M Revenue as per presentation. From this Q on, forecasts of $15M revenue moving forward as the mill is started and head grade increases to indicated levels.

--Financing and possible HK listing. This would push Majestic into a new tier, in my view, as would starting of the mine - again, as Majestic transitions into a Gold producer.

All in all, Feb and March should be amazing months, and April, if the mill is ready and starts processing at that time, will be the start of a new era. Personally, with all the above on the near term horizon, it will be interesting to see where the shareprice goes- but it will most certainly be "up" by the time April comes around. How much is the question.


Cheers!

B

[MisterB]

Majestic Gold Corp.: Wardrop Delivers Positive Preliminary Assessment for Songjiagou Gold Project
Majestic Gold Corp. (TSX:MJS)
Historical Stock Chart

1 Month : January 2011 to February 2011
Click Here for more Majestic Gold Corp. Charts.

Majestic Gold Corp. (TSX VENTURE: MJS)(FRANKFURT: P5E) is pleased to announce that Wardrop, A Tetra Tech Company, ("Wardrop") has completed and delivered a positive Preliminary Assessment ("PA" or "Preliminary Assessment") for the Songjiagou Gold Project located in Shandong Province, People's Republic of China.

Highlights are as follows:

-- Net Present Value of US $525 million using a 10% discount rate

-- Internal Rate of Return of 78.6%

-- Payback in 1.4 years

-- Total gold production of 2.324 million ounces (average 105,645 oz/yr)
for life-of-mine

-- Life-of-Mine strip ratio 1.87 : 1 (waste to ore)

-- Mine-Life of 22 years.


"The Preliminary Assessment provided by Wardrop has exceeded our expectations and will form the basis for our continued development of the Songjiagou project," stated Rod Husband, President and CEO of Majestic Gold Corp.

A summary of the main sections of the Preliminary Assessment are as follows:

Resource

In 2006, Wardrop prepared a National Instrument 43-101 (NI 43-101) compliant, resource estimate of the Songjiagou deposit. On the basis of additional data collected during 2006, Wardrop prepared an updated estimate in late 2007.

In April 2010 Wardrop completed an update of the 2007 resource estimate to take into account assay results from surface core drilling and trenching that were carried out during 2007, as well as depletion from surface mining since the time of the last estimate. Depletion attributable to underground mining during the same interval was negligible.

The April 2010 updated resource estimate was made using an un-rotated block model, which is to say the blocks in the model were oriented orthogonally east-west and north south. In October 2010, Majestic requested that the estimate be redone using a block model rotated parallel to the trend of the deposit as well as a lower cutoff (0.3 g/t versus 0.4 g/t gold).

The lower threshold grade (0.3 versus 0.4 g/t) is attributable to a lower cost for contract mining and milling that Majestic negotiated during the period between the two estimates.

The rotated orientation is consistent with previous estimates and also aligns the block model with cross-sections that are cut perpendicular to the strike of the deposit. The change in block model orientation as well as the decrease in cutoff grade resulted in an overall enhancement of both estimated tonnes and grade. This report incorporates those changes. There has been no change in the underlying data between the April 2010 estimate and the current estimate.

The resource used in preparation of the Preliminary Assessment is tabulated as follows:

----------------------------------------------------------------------------
Au (ii)Au Ounces Ounces
(i)Resource Cut-off Uncap Cap Au Au
Category (g/t) Tonnes g/t g/t Uncap Cap
----------------------------------------------------------------------------
Indicated 0.30 33,739,586 1.384 1.147 1,501,298 1,244,211
----------------------------------------------------------------------------
Inferred 0.30 38,812,054 1.500 1.467 1,871,755 1,830,576
----------------------------------------------------------------------------

(i) The preliminary assessment includes inferred mineral resources that are
considered too speculative geologically to have the economic considerations
applied to them that would enable them to be categorized as mineral
reserves, and there is no certainty that the preliminary assessment will be
realized. All figures have been rounded to reflect the relative accuracy of
the estimates.
(ii) gold grades were capped at 40.0 g/t


Open pit optimization was carried out using Whittle™ 4.3 which uses a series of Lerchs Grossman (LG) pit shells at different prices of gold to optimize the size of the pit while maximizing net present value (NVP) of the deposit. The resulting LG shells generated the highest discounted cash flow from the ore body at varying prices of gold. The LG shell used for optimization does not apply practical mining considerations and constraints.

The strategic planning using the generated LG pit resulted in the following potential mineable resources, which forms the basis of the preliminary Assessment:

----------------------------------------------------------------------------
(i)Potentially Mineable Resources
Classification Tonnes Grade, Au(g/t)
----------------------------------------------------------------------------
Indicated 29,875,527 1.207
----------------------------------------------------------------------------
Inferred 22,806,473 1.936
----------------------------------------------------------------------------

(i)Potentially Mineable Resources include the inferred mineral resources and
are not mineral reserves.


Preliminary Production Schedule

The life-of-mine strip ratio is 1.87 to 1 (waste to ore). Total ounces contained in the resource are 3,074,787; of this 2,324,000 ounces are potentially recoverable as bullion during the mine operations at an average annual production of approximately 106,000 ounces per year.

The following table summarizes the information from the Preliminary Economic Assessment Production Schedule.

----------------------------------------------------------------------------
Preliminary Production Summary
Unit Years 1-8 LOM
------------------------------------------------------------
Process Feed
Gold g/t 2.12 1.52

Material Mined
Mill Feed kt 18,494 52,682
Waste kt 47,746 100,377
Ore Mined kt 18,494 52,682

Strip Ratio 2.33 1.87

Total Production
Gold koz 1,152 2,324
Average Production
Gold koz 144 106
----------------------------------------------------------------------------


The following table details the planned Production Schedule for the Life-of-Mine:

Preliminary Production Schedule
(i)Tonnes Tonnes Stock- Tonnes Mill
Mined Moved pile Tonnes ROM feed
Including Total to Stock- to Waste Ore Strip Gold Gold
Stockpile Mined pile Mill Mined Milled Ratio Grade Rec.
Kt kt kt kt kt kt # g/t koz
Year 1 1,400 4,472 - 3,072 1,400 2.19 0.742 31
Year 2 2,442 7,644 237 - 4,965 2,442 1.85 3.431 256
Year 3 2,442 7,173 332 - 4,399 2,442 1.59 2.881 215
Year 4 2,442 10,500 344 - 7,714 2,442 2.77 1.868 139
Year 5 2,442 9,574 284 - 6,848 2,442 2.51 2.201 164
Year 6 2,442 10,354 304 - 7,608 2,442 2.77 1.696 126
Year 7 2,442 9,343 262 - 6,639 2,442 2.46 1.760 131
Year 8 2,442 9,150 207 - 6,501 2,442 2.45 1.803 134
Year 9 2,442 9,302 212 - 6,648 2,442 2.50 1.635 122
Year 10 2,442 7,640 222 - 4,976 2,442 1.87 1.316 97
Year 11 2,442 7,115 211 - 4,462 2,442 1.68 1.270 94
Year 12 2,442 6,671 202 - 4,027 2,442 1.52 1.450 107
Year 13 2,442 6,274 182 - 3,650 2,442 1.39 1.554 116
Year 14 2,442 6,006 185 - 3,379 2,442 1.29 1.539 115
Year 15 2,442 6,493 264 - 3,787 2,442 1.40 1.422 105
Year 16 2,442 6,772 319 - 4,011 2,442 1.45 1.162 86
Year 17 2,442 5,918 251 - 3,225 2,442 1.20 1.256 93
Year 18 2,442 5,871 316 - 3,113 2,442 1.13 1.226 90
Year 19 2,405 8,354 455 37 5,494 2,442 1.92 1.270 94
Year 20 754 3,289 82 1,688 2,453 2,442 2.93 0.486 34
Year 21 1,662 5,417 585 780 3,170 2,442 1.41 0.720 52
Year 22 363 604 5 2,079 236 2,442 0.64 0.478 33
TOTAL/
AVG 53,559 153,936 5,461 4,584 100,377 52,682 1.87 1.523 2,434
----------------------------------------------------------------------------
(i)Tonnes Mined Including Stockpile is Potentially Mineable Resources
category. The preliminary assessment includes inferred mineral resources
that are considered too speculative geologically to have the economic
considerations applied to them that would enable them to be categorized as
mineral reserves, and there is no certainty that the preliminary assessment
will be realized.


Capital Costs

Total capital costs are estimated at $129.2 million including initial capital, initial working capital and sustaining capital. The majority of sustaining capital is required in years 4 and 5 and consists mainly of capital required to expand tailings storage facilities. A more detailed breakdown of the capital costs is provided in the following table.

----------------------------------------------------------
Capital Costs
000's US$
Pre-production (pre-strip) 0
Initial Capital 64,377
Initial Working Capital 7,120
Sustaining Capital 64,787
Total Capital Costs 129,163
----------------------------------------------------------


Operation Costs

Life-of-mine ("LOM") operating costs are estimated at US$11.67 per tonne milled, including mining, process and transportation costs based on the current contract terms. The details of these costs are tabulated as follows:

---------------------------------------------
Operating Costs
US$/tonne milled
Mining, Process and Transport 10.72
G&A and Quality Control 0.95
TOTAL OPERATING COSTS 11.67
---------------------------------------------


Operating Cash Flows

Operating cash flows based on pit optimization parameters employed by Wardrop indicate that in years 1-8 the mine will approximately produce a total of 1,152,000 ounces of gold (144,000 ounces annually) and generate US$841 million (US$105 million annually) in operating cash flow compared with life-of mine production of 2.32 million ounces of gold in concentrate (106,000 ounces annually) and operating cash flow of US$1.516 billion (US$68.9 million annually).

The projected cash flows are tabulated below:

--------------------------------------------------
Operating Cash Flow
000's US$
Years 1-8
Total 841,334
Average 105,167
LOM
Total 1,515,927
Average 68,906
--------------------------------------------------


Economic Returns

Wardrop evaluated the economic viability of the Songjiagou project using pre-tax discounted cash flow analysis based on the engineering work and cost estimates discussed in the Preliminary Assessment. Over the life of the mine, Songjiagou is estimated to produce on average 106,000 ounces gold in concentrate per year. Total gold produced for LOM will be 2.324 million ounces; with a gold price of $973 per ounce and total operating cash flow of US$1,516 million, the total cash cost is US$745 million or US$321 per ounce of gold. The pre-tax Net Present Value is US$525 million and the IRR is 78.6%.

The following table illustrates the project NPV's using various discount rates besides the 10% base case.

---------------------------------------------------------------------------
Economic Returns

Project NPV Unit Pre-Tax
--------------------------------------------------
14.0% discount rate million US$ 381
12.0% discount rate million US$ 446
10.0% discount rate million US$ 525
8.0% discount rate million US$ 624

Project IRR 78.6%

Payback Years 1.4
Mine Life Years 22
---------------------------------------------------------------------------


Sensitivity Analysis

Sensitivity analysis was conducted for gold price, exchange rate, gold feed grade, operating costs and initial capital costs over a +/- 30% range. The results are shown in following table and graph.

----------------------------------------------------------------------------
Sensitivity Analysis (in US$
millions)
NPV @ 10% discount rate
Variable -30% -20% -10% 0% 10% 20% 30%
--------------------------------------------------------
Gold Price 276 359 442 525 608 691 774
Exchange Rate 553 544 534 525 516 507 497
Gold Feed Grade 277 360 442 525 608 691 774
Operating Cost 586 566 545 525 505 485 464
Initial Capital Cost 542 536 531 525 520 514 508
----------------------------------------------------------------------------


As the table shows and the following graph illustrates, the main factors impacting the NPV are gold price and gold feed grade, while exchange rate, operating costs and initial capital costs have a much smaller effect on NPVs.

To view the graph titled "Pre-tax NPV @ 10% Sensitivity Analysis", please visit: http://media3.marketwire.com/docs/mjs-graph.pdf.

Based on the estimates in the Preliminary Economic Assessment, Majestic plans to move ahead with continued development of the project, including more detailed engineering studies and applications for mining permits.

The Preliminary Economic Assessment was prepared by Wardrop consultants, all of whom are independent of Majestic and are Qualified Persons as defined by section 1.4 of National Instrument 43-101. The QP's have reviewed and approved the information in this news release. The consultants (QPs) with their responsibilities are as follows:

Wardrop, under the direction of Greg Mosher, P.Geo., for all matters relating to geology and mineral resource estimate.

Wardrop, under the direction of Nory Narciso, P.Eng., for all matters relating to mine planning, mine design and report coordination.

Wardrop, under the direction of John Huang, P.Eng., for all matters relating to mineral processing, metallurgical testing, infrastructure, tailings management facility, environmental impact considerations, license and permit, operating and capital cost estimates and smelting terms.

Wardrop, under the direction of Miloje Vicentijevic, P.Eng., M.Eng. for all matters relating to economic analysis.

Mike Hibbitts, P.Geo VP Development and Exploration, and a Director of Majestic, has read and approved the information in this news release.

On Behalf of the Board of Directors

MAJESTIC GOLD CORP.

Rod Husband, P.Geo, President

[Ed Monton]

Majestic returns channel sample results from Fekenyun

2005-02-16 20:15 ET - News Release


Mr. Rod Husband reports

UNDERGROUND CHANNEL SAMPLE RESULTS - SONG JIAGUO

Majestic Gold Corp. has received geochemical results on channel samples taken in drifts of the level 4 underground workings of the Fekenyun mine on the Songjiaguo licence, located in Shandong province, People's Republic of China.

A total of 107 contiguous channel samples were taken from two subparallel drifts, located approximately 258 metres below surface. The drifts are orientated perpendicular to the strike direction of known high-grade structures and provide an excellent opportunity to evaluate the host conglomerate for bulk-minable potential.

A total of 68 samples covering 103 metres were collected along the south drift. Assays ranged from 18 to 121,176 parts per billion gold across 1.5 metres and results are summarized in the following table.

 
  
     FEKENYUN GEOCHEMICAL RESULTS 
  
 Drift    From     To    Width    Grade  
                (metres)         (ppb Au) 
  
 South     0     103.0   103.0     2,297 
 incl.     0      13.5    13.5     1,199 
 and      62.9   103.0    40.1     5,222 
 incl.    68.9    70.4     1.5   121,176 
  
  
 

..........

A total of 40 samples covering 60.2 metres were collected along the north drift, which is located 60 metres along strike from the south drift. Assays ranged from 12 parts per billion to 8,789 parts per billion gold across 1.5 metres and results are summarized in the following table.

 
     FEKENYUN GEOCHEMICAL RESULTS 
  
 Drift    From     To    Width    Grade  
                (metres)         (ppb Au) 
  
 North     0      60.2    60.2      585 
 incl.     0      25.5    25.5    1,076 
 incl.     0      12.0    12.0    1,460 
  
  
 

........


"The results further indicate that the gold mineralization permeates out from the higher-grade structures, forming halos around them within the host conglomerate sequence. We are likely dealing with a situation where there is coarse free gold in the system, and will adjust our sampling and assaying techniques to properly address this style of mineralization. As a first pass, we are very encouraged with these geochemical results," says Warren Robb, PGeo, senior consulting geologist for Majestic. Previously reported historical drill results are tabulated below to further demonstrate the widths and grades encountered throughout the conglomerate.


HISTORICAL DRILL RESULTS

Drill From To Width Grade
hole No.
(metres) (ppb Au)

ZK19 224.52 244.79 20.27 12,580
ZK9 183.90 192.30 8.40 5,410
ZK51 25.88 38.09 12.21 930
ZK16 369.00 401.63 32.63 1,580
ZK10 11.98 22.68 10.70 1,350
ZK6 289.90 305.00 15.10 710
ZK1 231.90 241.70 9.80 830

High-grade gold mineralization is hosted by a series of steeply dipping, subparallel north-northeast-trending fault zones, as is typical in the region.

A mineral resource of 1.8 million tonnes of 6.76 grams per tonne (g/t) Au was published in 1998 by the Shandong 3rd Geological and Mineral Institute. While all of the historical data reviewed are considered complete and procedure dictated in Chinese exploration manuals appear to be reliable, the company has not completed the necessary work to verify the classification of this resource. Therefore, the company is not treating them as a National Instrument 43-101 resource verified by a qualified person, and as a result, the historical estimate should not be relied upon. Review of the data indicates that the high-grade structures hosting this mineralization remain open at depth and along strike in both directions.

Majestic continues its underground channel sampling program on levels 3 and 2, located approximately 210 metres and 170 metres below surface respectively to continue to evaluate the gold mineralization within the conglomerates and makes plans for a drill program to commence as soon as practical after the current Chinese holiday.

"We have two targets that require follow-up: a proven gold target in the high-grade structures with considerable upside both at depth and along strike; and the untested bulk-minable target within the conglomerates that has great potential," says Rod Husband, PGeo, president of Majestic. "We look forward to continued success in 2005."

Song Jiagou is one of 13 licences and covers 4.11 of a total of 75.06 square kilometres that fall under an agreement with Shandong Yantai Muping gold mine on the Jiaodong peninsula of Shandong province. Under the terms of this agreement, Majestic has the right to earn a 60-per-cent interest in a joint company established to hold the title to the exploration licences by spending approximately $4.2-million (U.S.) over four years on exploration. Upon completion of the required exploration expenditures by Majestic, Muping is required to finance its pro rata share of exploration or have its interest diluted down to 15 per cent.

All samples collected were processed at Langfang laboratories in Beijing, selected samples from this data set have been couriered to Acme Analytical Laboratories in Vancouver to be analyzed by fire assay techniques.

This news release was reviewed by qualified persons as defined by National Instrument 43-101, including Warren Robb, PGeo, who has prepared the technical information contained herein.

Majestic has amended the terms of the warrant attached to the non-brokered private placement financing of up to 4.5 million units announced in Stockwatch on Jan. 19, 2005, at a price of 70 cents per unit. Each warrant will entitle the holder thereof to purchase one additional common share in the capital of the company for two years at 90 cents per share, with forced conversion if the shares of Majestic trade over $1.80 for more than 20 consecutive days.

[Ed Monton]

Holy! Was a good buy at .30. I wasn't watching.

[Ed Monton]

Support at .25

[Ed Monton]

Well I see this one broke support and is heading down. I wonder where the bottom is?

[Ed Monton]

I had a bid in at .56 for a good part of the morning but pulled it before the end of the day. The volume was incredible. I'd love to know the house positions for the day and whether RAB Special Situations sold their position.

[dubsy12]

I appreciate your thoughts, I had watched it closely this morning go straight down to around .56, bought at .65 thinking it might rebound some, and then watched with dismay as it steadily declined the rest of the afternoon.

Havent yet decided on whether to cut my losses or hold on to it for a little while and see if it will bounce back.

Again, thank you for your response.

[Ed Monton]

I thought about buying some today but didn't. I think there are pros and cons to holding the stock.

I would consider that they completed a number of financings at higher prices than the stock traded at today. That means they should have a decent cash position going into the new year. I don't know exactly how much though. They also have a property in China that they can promote. I have never really looked into the China property so I won't comment on how good I think it might be, I got interested in MJS because of the Slovakian property.

Going against the company right now is managements track record. I think they lost a lot of credibility by coming up with nothing in Slovakia. I don't know how long it will take for them to get their credibility back.

I don't know where its going to settle. It traded down at the end of the day today. If I had to guess, I'd guess that it might go a little lower in the next few days as people sell so they can declare a tax loss for this year. I doubt it will go too much lower though.

Chances are they will promote it all over again next year and the stock will trade higher but there are no guarantees in this game.

For the record I don't have any MJS. I sold all my shares around 1.25 (from .75 or so) on the way up, bought a few back at 1.40 and sold them at a loss for 1.15 or so. In hindsight I think I did alright though it didn't seem that way when the stock was at 1.60.

Good luck to you.

[dubsy12]

Trading fool, what are your thoughts on keeping this stock? Is it going right into the toilet or should it rebound some? Where do you think it could settle at?

Any info would be appreciated.

[Tackler]

[Ed Monton]

News is out. Slovakian holes were duds. I wonder how this will open tomorrow...

Magestic Gold enters joint venture in Sawayaerdun

2003-12-15 13:19 ET - News Release

CHINA JV SIGNED / CESKE BREZOVO DRILL RESULTS

Further to Magestic Gold's co-operation agreement announced in Stockwatch Aug. 5, 2003, Majestic Gold has entered into a joint venture agreement, dated Nov. 7, 2003, with the Xinjiang Bureau of Geology and Mineral Resources (XBGMR). Under the terms of the agreement, Majestic has the right to earn a 90-per-cent interest in a joint venture company that will be established to hold the Sawayaerdun gold project in Xinjiang province of China. To earn its interest, Majestic is required to contribute 100 per cent of the exploration and development costs to the joint company, including certain minimums in the first four years. The XBGMR will contribute the property and all geological information collected to date in exchange for its interest.

The agreement calls for Majestic to incur minimum cumulative exploration expenditures over four years of $2-million (U.S.) as follows:

cumulative expenditures of at least $300,000 (U.S.) before Dec. 31, 2004;

cumulative expenditures of at least $700,000 (U.S) before Dec. 31, 2005;

cumulative expenditures of at least $1.35-million (U.S.) before Dec. 31, 2006; and

cumulative expenditures of at least $2-million (U.S.) before Dec. 31, 2007.

At any time in the first two years Majestic can elect to establish the joint venture company to conduct continuing exploration and development. In the event Majestic does not establish the joint venture company within the initial two years, it may renew its exploration option for a subsequent two years and establish the joint venture company at any time in the next two-year period.

When established, the joint venture company will be owned 90 per cent by Majestic and 10 per cent by XBGMR and Majestic will continue to finance 100 per cent of continuing exploration and development.

About Sawayaerdun

The Sawayaerdun project covers approximately 240 square kilometres, between longitude 74 degrees 10 minutes and 74 degrees 23 minutes east and from 40 degrees nil minutes north to the border of Kyrgyzstan. The project lies in the Tian Shan gold belt which stretches from Inner Mongolia west to Uzbekistan and which hosts such deposits as Muruntau (over 140 million ounces of gold) and Kumtor (over 13 million ounces).

XBGMR reports that the gold mineralization at Sawayaerdun is hosted by Silurian-aged carbonaceous phyllites in a system that breaches surface in over 20 separate zones. Zone IV has received the most attention to date, mainly due to the fact that its surface expression can be traced for over four kilometres and because it is bisected by the local access road. At a cut-off of three grams per tonne gold (g/t), the combined higher grade portions of Zone IV can be traced for over 1.6 kilometres along strike and average approximately 8.4 metres thickness with an average grade of approximately 3.3 grams per tonne gold from the trench, adit and drillhole data that have been reported to date by XBGMR.

In preparation of an independent geological report for the company, 33 continuous chip samples were taken from eight trenches along a two-kilometre strike length of Zone IV. All of the samples were two metres in length and continuous within each trench. These samples were taken by Calvin Church, PGeo (a qualified person under National Instrument 43-101), and were transported to Vancouver, B.C., and submitted for assay at Acme Analytical Laboratories. Gold mineralization was consistent throughout these samples and a summary of the results is tabulated below:


Location Assay Values

Trench 12 1.96 g/t over 12 metres

Trench 23 2.62 g/t over 10 metres

Trench 24 0.48 g/t over 4 metres

Trench 31 1.87 g/t over 10 metres

Trench 35 0.92 g/t over 4 metres

Trench 39 1.79 g/t over 10 metres

Trench 64 2.35 g/t over 8 metres

Trench 68 3.47 g/t over 8 metres
(incl. 9.26 g/t over 2 metres)

All trenches mentioned were open in both
directions

Weighted Average: 2.10 g/t over 8.25 metres

It is important to note that the check sampling did not cover the entire length of any of the previous trenches and was not possible in all of the previous trenches due to slumping and other disturbances. The check-sampling program was designed to confirm previous results and will serve as a basis to design future drill programs to test the continuity of mineralization at depth. The IV zone has been tested by XBGMR at depth in 16 adits and 11 drill holes and demonstrates good continuity.

XBGMR report a total inferred resource (Chinese category D and E) of 26,044,174 tonnes containing 45,246,840 grams (over 1.4 million ounces) of gold (average of 1.75 g/t Au) in a 2,000-metre section of the IV zone alone. Approximately 15 per cent of this is reportedly oxidized. (The estimates were completed by Chinese professionals but not pursuant to National Instrument 43-101 or current CIM guidelines. The company has performed limited work and review to date and is not able to substantiate the reported finding at this time, but has engaged its qualified person to make this review and his findings will be published when available and thus, the current information alone should not be relied on for investment purposes).

XBGMR reports three additional gold zones have been trenched on surface for a combined length of over 7,500 metres and have not been tested at depth in either adits or drill holes and represent excellent additional targets. Average widths and grades at surface are reportedly 4.37 metres and 1.37 g/t gold.

The company is continuing to compile data from previous work done on this project and is currently making plans to begin exploration at Sawayaerdun in the first quarter of 2004.

The company is also actively evaluating several other projects in China.

Ceske Brezovo, Slovakia update

Majestic has not encountered significant gold or other mineralization in any of the four diamond drill holes drilled on the Ceske Brezovo property in Slovakia. Majestic was attempting to confirm and expand on gold mineralization reported by a government-funded exploration program in the region between 1991 and 2000.

All holes were logged by Bohumil Molak PGeo, Majestic's qualified person, and split under his supervision. Samples were stored in a locked warehouse and packaged and air-freighted, via UPS, to Acme Analytical Laboratories Ltd. in Vancouver, B.C., for analysis. The core was assayed using a standard 30 element ICP package and gold analysis was conducted by fire assay.

Majestic will do further investigation with its assayers to confirm that no gold was missed in the assay procedures. Majestic will suspend property payments and will seek an indefinite extension of its next payment date to allow time to explain the discrepancy in assays.

The company has over $2-million in working capital and will continue to pursue its mandate of evaluating, acquiring and exploring advanced staged projects globally.

[Ed Monton]

Majestic Gold obtains Ceske Brezovo geochemical results

2003-12-08 18:47 ET - News Release

Mr. Rod Husband reports

NEW GEOCHEMICAL ANOMALIES DISCOVERED

Majestic Gold, further to its news release in Stockwatch on Dec. 2, 2003, has received positive analytical results for a soil geochemical program on its Ceske Brezovo project in Slovakia. The survey was designed to test for the extension of two significant near-surface gold zones on the northeastern slope of Kecka Mountain, an area where no previous sampling was done during a government funded regional survey completed in 2000.

Statistics were performed on the samples obtained to determine anomalous values and the 75th, 85th and 95th percentile were plotted and contoured. Results show four large subparallel southwest-northeast trending gold geochemical anomalies.

The first zone extends 1.3 kilometres in length and ranges from 200 to 600 metres in width, including a highly anomalous (greater than 85th percentile) zone one kilometre long and 100 to 300 metres wide. This anomaly includes the location of drill hole VC-03, a recently completed hole drilled from the same location as a government drilled hole that returned 51.4 grams per tonne over the entire cored length of 14 metres. This anomaly may represent the strike extension of this zone, which is characterized by extensive siliceous and pyritic alteration at the top of Kecka Mountain.

The second zone, 300 to 500 metres east of zone 1, extends two kilometres in length and ranges from 100 to 300 metres wide.

The third zone, approximately 300 metres east of zone 2, is two kilometres long and over 800 metres wide, including a highly anomalous core measuring 1.5 kilometres long and between 200 and 500 metres wide. This zone appears to represent the northeast extension of the thrust fault contact zone between the gneiss and schist tested in holes VC-01 and VC-02. A previous government drilled hole in this contact zone returned 3.1 grams per tonne gold over the entire cored length of 16 metres.

A fourth zone occurs 300 to 400 metres east of zone 3 and extends 1.5 kilometres in length and ranges from 100 to 400 metres wide.

Plots for silver, arsenic, antimony, tungsten and bismuth show similar broad northeast trending anomalies.

"Results show continuation of the known gold mineralization and warrant follow-up work including detailed geophysics and diamond drilling," said Steve Kenwood, Majestic's head of exploration.

A total of 527 soil samples were collected along east-west oriented grid lines and shipped via air freight to Acme Analytical Labs in Vancouver, B.C. The exploration program was supervised by Bohumil Molak, PGeo, the qualified person on the project.

Interpretation of the drill logs is under way and assay results will be analyzed and released as soon as available and follow-up drill programs are slated to resume in January.

WARNING: The company relies upon litigation protection for "forward-looking" statements.

[Ed Monton]

Majestic Gold completes drill program; raises $600,000

2003-12-02 20:49 ET - News Release

Mr. Rod Husband reports

Majestic Gold has completed a four-hole drill program in Slovakia. The program was designed to expand on two significant near-surface gold zones discovered by a Slovak government-funded regional exploration program completed in 2000. This program culminated in a shallow diamond drill program that returned intersections of 51.5 grams per tonne gold over 14 metres and 3.1 grams per tonne gold over 16 metres from two holes. Both intersections remain open at depth. Following the discoveries the property has not been subjected to any follow-up work until this recently completed program by Majestic.

Majestic drilled two holes in each gold zone to expand on the known gold mineralization and to provide data for geological and structural interpretation of these targets. The first set of two holes was drilled in the area interpreted to be a thrust contact zone between Paleozoic gneiss and schists. Previous holes, drilled vertically, reported values over the entire cored length of 3.1 grams per tonne gold over 16 metres (VCB-78) in the gneiss and 0.81 gram per tonne gold over 14 metres (VCB-79) in the schist approximately 200 metres away across the inferred thrust contact zone. Both of these holes remain open at depth. The first hole of the current program (VZ-01) was drilled near the inferred thrust fault contact zone between the gneiss and schist for a total length of 50.3 metres with an orientation of minus 45 degrees toward 345 degrees to cut across the lithologies and structures at near right angles. The second hole (VZ-02) was drilled with the same orientation and was collared 125 metres southeast of hole VZ-01.

The second set of two holes was drilled near the top of Kecka Mountain (approximately 1,500 metres northwest of the first zone), an area mapped by Slovak government geologists as a highly siliceous and pyritized alteration zone. One previous hole (VCB-74), drilled vertically, averaged 51.5 grams per tonne gold over its entire cored length of 14 metres. The third hole of the current program (VZ-03) was drilled vertically from this site and was cored for a total length of 102.1 metres. The fourth hole (VZ-04) was drilled 150 metres due south of hole VZ-03, near the top of Kecka Mountain, to test the lithologies and structures near the centre of the large alteration zone.

The company has also completed a surface exploration program designed to collect preliminary data on the northeastern slope of Kecka Mountain. Previous work by the Slovak government identified a large geochemical anomaly down the southwest slope which was subsequently drilled and resulted in the discoveries reported above. Sampling on the northeast slope was never undertaken by the government survey as the ground at that time was held by private interests. A total of 527 soil samples were collected along east-west oriented grid lines and shipped via air freight to Acme Analytical Labs in Vancouver, B.C.

The exploration program is being supervised by Bohumil Molak, PGeo, the qualified person on the project. All of the holes have been logged and the core has been split, sealed in plastic bags and the samples were then sent via air freight to Acme Analytical Labs in Vancouver, B.C., for assay.

Interpretation of the drill logs is under way and assay results will be analyzed when available and follow-up drill programs are slated to resume in January.

The company is also pleased to announce that it has closed its private placement of one million units at a price of 60 cents per unit, which was previously reported in Stockwatch on Oct. 16, 2003.

Each unit consists of one common share in the capital of the company and one-half of a share purchase warrant. Each whole warrant will entitle the purchaser to purchase one additional share exercisable for one year, at a price of 70 cents per share. In the event that the closing price of the company's shares exceeds $1.80 for a period of 20 consecutive trading days, at the company's election, the exercise period will be reduced to 30 days commencing on the date following the date the company provides to the holder notice of the commencement of the exercise period and the warrants will thereafter expire at 4:30 p.m. (Vancouver time) on the last day of the 30-day exercise period referenced above.

Finder's fees of $25,842 payable in cash and 49,217 warrants to purchase an additional 49,217 shares at a purchase price of 70 cents per share for one year were paid in connection with the private placement.

The shares and any shares issued upon exercise of the warrants shall not trade on or before March 27, 2004, under the B.C. Securities Act and the TSX Venture Exchange policies.

WARNING: The company relies upon litigation protection for "forward-looking" statements

[Ed Monton]

Majestic Gold one-million-share private placement

2003-11-20 16:32 ET - Private Placement

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Oct. 16, 2003.

No. of shares:
one million shares



Price:
60 cents per share



Warrants:
500,000 share purchase warrants to purchase 500,000 shares



Warrant price:
70 cents for a one-year period. The warrants have a forced exercise provision such that if the company's shares trade at or above $1.80 for 20 consecutive days, the warrantholders will have 30 days to exercise the warrants.



Placees:
17 placees

[Ed Monton]

Anyone else holding this rocket? Now $1.44!!

They must be finding a lot of gold?????

[Ed Monton]

Wow! Break-out, last at .98 !!

EDIT: make that $1.00

[Ed Monton]

Majestic Gold closes $1.5-million private placement

2003-10-30 17:47 ET - News Release

Mr. Rod Husband reports

BROKERED PRIVATE PLACEMENT CLOSES

Majestic Gold has closed its brokered private placement with Haywood Securities of 2.5 million units at a price of 60 cents per unit, raising gross proceeds of $1.5-million which was previously announced in Stockwatch on Sept. 29, 2003.

Each unit consists of one common share in the capital of the company and one-half of a non-transferable share purchase warrant. Each full warrant will entitle the purchaser to purchase one additional share exercisable for one year at a price of 70 cents per share with forced conversion if the shares of Majestic trade over $1.80 for more than 20 consecutive days.

The agent received a commission of 7 per cent of the gross proceeds raised, paid by $10,500 cash and 157,500 units on the same terms as the offering units. Additionally, an option was granted to the agents entitling them to purchase up to 250,000 units at the offering price and on the same terms as the offering units until Oct. 27, 2004, and is equal to 10 per cent of the offering units sold.

The shares and any shares issued upon exercise of the warrants are subject to the same hold period as the offering units and shall not trade on or before Feb. 28, 2004, under the British Columbia Securities Act and the TSX Venture Exchange policies.

The company is currently performing an initial diamond drilling program designed to expand on results generated by a government-sponsored regional program that was completed in 2000. That program resulted in the discovery of significant near-surface gold mineralization on the Ceske Brezovo concession including diamond drill hole intersections of 51.5 grams per tonne gold over 14 metres and 3.1 grams per tonne gold over 16 metres; both holes bottomed in gold-rich mineralization and have not yet been subjected to any further exploration.

WARNING: The company relies upon litigation protection for "forward-looking" statements.

[Ed Monton]

At the end of the last release the company also announced that it had arranged a non brokered Private placement for an additional 1,000,000 units at .60

http://www.majesticgold.net/NewsReleases/October16_03.pdf

[Ed Monton]

Majestic Gold begins drilling at Ceske Brezovo

2003-10-16 16:56 ET - News Release

Mr. Rod Husband reports

Majestic Gold has begun drilling on its Ceske Brezovo gold project in central Slovakia. This initial program of a minimum of four holes is planned to expand on results generated by a government-sponsored regional program that was completed in 2000. That program resulted in the discovery of significant near-surface gold mineralization on the concession including diamond drill hole intersections of 51.5-gram-per-tonne gold over 14 metres and 3.1-gram-per-tonne gold over 16 metres; both holes bottomed in gold-rich mineralization and have not yet been subjected to any further exploration.

Current continuing work on the property includes initial exploration of the northeast corner of the 18-square-kilometre concession where no previous work has been done. Grid soil geochemical sampling and mapping in this part of the property is currently under way and will provide data that will expand on results generated by the government program over the rest of the property in the 1990s.

[Ed Monton]

Free'd up some cash and added a few more at .78 today. I thought most of the selling looked retail. TDWaterhouse mostly. I don't think I saw Haywood sell any. Good sign in my opinion.

[Ed Monton]

Thats the second day in a row that it closes on a new 52 week high. Go Majestic!

[Ed Monton]

Well I'm impressed that they were able to do the financing at this high of a price. Bodes well for the future in my opinion.

[Ed Monton]

Majestic Gold grants 350,000 stock options

2003-10-01 15:24 ET - Options Proposed

Mr. Rod Husband reports

Majestic Gold has granted stock options of the company to purchase up to a total of 350,000 common shares of the company, exercisable at the price of 60 cents per share for five years, subject to regulatory approval.

[Ed Monton]

Majestic Gold negotiates $1.5-million private placement

2003-09-29 12:58 ET - News Release

Mr. Rod Husband reports

Majestic Gold has negotiated a brokered private placement financing of 2.5 million units at a price of 60 cents per unit with Haywood Securities Inc., subject to regulatory approval. Each unit will consist of one common share and one-half common share purchase warrant. Each full warrant will entitle the holder thereof to purchase one additional common share in the capital of the company for one year at 70 cents per share, with forced conversion if the shares of Majestic trade over $1.80 for more than 20 consecutive days.

The agent will receive a commission of 7 per cent of the gross proceeds payable at agent's option in cash or units and a non-transferable share purchase warrant entitling the agent to purchase, for a period of 12 months from closing, such number of units of the company as is equal to 10 per cent of the units sold on this offering at the offering price.

Majestic will use the finances from the private placement for exploration on its Ceske Brezovo concession in Slovakia, for continued due diligence on properties in China, and for general working capital.

The company has sent a crew to begin exploration of the Ceske Brezovo property. Drilling is expected to commence within the next two weeks; the company intends to drill four to six diamond drill holes, totalling 400 metres to 600 metres, in an initial program designed to expand on results generated by a government-sponsored regional program that was completed in 2000. That program resulted in the discovery of two significant near-surface gold mineralization zones on the 18-square-kilometre concession, including diamond drill hole intersections of 51.5 grams per tonne gold over 14 metres and 3.1 grams per tonne gold over 16 metres. These holes were drilled to a maximum depth of 20 metres and bottomed in gold-rich mineralization, and have not been subjected to any follow-up exploration.

WARNING: The company relies upon litigation protection for "forward-looking" statements.

[Ed Monton]

Thanks. Noticed your GG board as well. A lot of us gold bugs hang out over on the Mostly Classical board. You should drop by sometime.

Mostly Classical #board-1430

[Caradoc]

TF: Good to see another gold-related board here on I-Hub! I'll tell folks on the Goldcorp board that you're here. Two new gold boards in three days just might say something about the increasing interest in the yellow metal.

Caradoc

[Ed Monton]

Here is some history off the companies web page:

The Company's mandate is to identify and add value to advanced precious metals projects.

A strong Board of Directors led by a Robert G. (Bob) Hunter, high profile projects in politically stable countries, and a management team with ample international experience indicates the value enhancement that Majestic shareholders can look forward to.

Majestic Gold Corp was founded in 1986 originally as Byron Resources Inc., and through two consolidations (totaling 6 old for 1 new) and another name change, emerged with new management as Majestic Gold Corp. in 1996.

In 1998 BHP Minerals International terminated exploration for gold in the Great Basin in the US. This created an opportunity for many junior and senior mineral companies, one of which was Majestic Gold.

Having been approached by two senior ex-BHP geologists, Majestic acquired the rights to a property with exceptional gold showings in east central California, on the western edge of the Great Basin. Shortly thereafter the original prospector sued BHP for the property in a lawsuit that Majestic is also enjoined in. The suit is expected to be completed by the end of this year and the Company expects that it will have clear title to the property.

Over the last three years the stock traded as if it was an empty shell, with very little volume and minimal price movement, trading primarily between .05 and .15 cents. In May of 2002 the Company raised $300,000 in a private placement and then embarked on the evaluation of a large group of properties.

In early October the Company came across a data package on a government sponsored exploration program in Slovakia. The Ceske Brezovo project intrigued board members both from the quality of the results from the in-depth program performed on the property and from the location of the property in relation to the rest of Europe.

We all love something in our own backyard and the Europeans are no different; this proximity combined with the history of company Chairman Robert Hunter and his success in providing many European investors with substantial profits in the past, it seemed that Majestic would be foolish not to pursue this opportunity. An agreement was reached and subsequently announced to the public on October 16th, 2002