Majestic Gold Corp. Announces Record 2022 Annual Results

About this update from Majestic Gold Corp.

[{"type":"text","content":"Majestic Gold Corp. Announces Record 2022 Annual Results\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, B\n \n \n C\n \n \n -\n \n \n TheNewswire -\n \n \n April 28, 2023\n-\n \n \n Majestic Gold\nCorp.\n \n \n (“\n \n \n Majestic\n \n \n ” or the “\n \n \n Company\n \n \n ”)\n \n \n (TSX.V:MJS\n \n \n )\n \n \n (\n \n \n FSE:MJT)\n \n \n announces its financial and operational results for the year\nended December 31, 2022. The following financial results are expressed\nin US dollars unless otherwise stated.\n \n \n \n \n \n \n \n \n FULL YEAR HIGHLIGHTS\n \n \n \n \n \n \n Record gold\nproduction\n \n \n of 37,641 ounces for FY2022 (FY2021-\n19,955 ounces);\n \n \n \n \n \n \n Record\nrevenue\n \n \n of $63.5 million for FY 2022 (FY2021 -\n$38.5 million);\n \n \n \n \n \n \n Record gross\nprofit\n \n \n from mining operations of $33.9 million\nfor FY2022 (FY2021 - $21.7 million);\n \n \n \n \n \n \n Record net income\n \n \n of $17.4 million for FY2022 (FY2021 - $7.7\nmillion)\n \n \n \n \n \n \n Record\n \n \n \n \n cash flows from operating activities,\n \n \n \n \n excluding changes in non-cash working capital\n \n \n of $29.2 million for FY2022 (FY2021 - $16.5\nmillion)\n \n \n For computation details, refer to pages\n16-18 of the MDA for this Non-IFRS financial measure;\n \n \n \n \n \n \n Record Adjusted\nEBITDA\n \n \n \n \n was $35\nmillion for FY2022 (FY2021 - $17.3 million).\n \n \n For\nEBITDA computation details, refer to pages 16-18 of the MDA for this\nNon-IFRS financial measure;\n \n \n \n \n \n \n Strong financial\nposition\n \n \n at December 31, 2022. The Company had\ncash and short-term investments of $52.7 million (FY2021 - $34.9\nmillion) and working capital of $36.4 million (FY2021 - $14.1\nmillion);\n \n \n \n \n \n \n Total cash costs\nand all-in sustaining costs\n \n \n “AISC”) of $657\nper ounce and $751 per ounce for FY2022 (FY2021 - $677 per ounce and\n$972 per ounce respectively). For AISC computation details, refer to\npages 16-18 of the MDA for this Non-IFRS financial measure.\n \n \n \n \n \n \n \n \n FOURTH\nQUARTER HIGHLIGHTS\n \n \n \n \n \n \n Gold\nproduction\n \n \n of 7,924 ounces for Q4 FY2022 (Q4\nFY2021 – 8,543 ounces);\n \n \n \n \n \n \n Gold\nrevenue\n \n \n of $14.3 million for Q4 FY2022 (Q4\n...

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