Business
Majestic Gold Corp. Reports 2021 Annual Results
(TheNewswire) Vancouver, British Columbia – The March 25, ...
About this update from Majestic Gold Corp.
[{"type":"text","content":"Majestic Gold Corp. Reports 2021 Annual Results \n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n Vancouver, British Columbia –\n \n \n The\n \n \n March 25, 2022 - Majestic Gold Corp.\n \n \n (“Majestic” or the “Company”) (TSX.V: MJS, FSE: MJT) announces\nits financial and operational results for the year ended December 31,\n2021. The following financial results are expressed in US dollars\nunless otherwise stated.\n \n \n \n \n This release should be read in conjunction with the\nCompany’s audited consolidated financial statements for the years\nended December 31, 2021 and 2020 and associated Management Discussion\nand Analysis (“MD&A”) which are available on SEDAR\n \n \n \n www.sedar.com\n \n \n \n and on the\nCompany’s website\n \n \n \n www.majesticgold.com\n \n \n \n .\n \n \n \n \n PERFORMANCE HIGHLIGHTS\n \n \n \n \n \n \n Three months ended December 31,\n2021\n \n \n \n \n \n \n Gold\nproduction\n \n \n decreased by 6% to 8,543 ounces, from\n9,089 ounces produced for\n \n \n the FY2020 comparative\nperiod;\n \n \n \n \n \n \n Gold\nrevenue\n \n \n was $14 million, a decrease of 6% from\n$15 million for the FY2020 comparative period;\n \n \n \n \n \n \n Gross\nprofit\n \n \n from mining operations decreased by 2% to\n$9 million, from $9.2 million for\n \n \n the FY2020\ncomparative period\n \n \n \n \n \n \n Net\nloss\n \n \n was $146,728\n \n \n , compared\nto a net income of $3.8 million for\n \n \n the same\nperiod in FY2020;\n \n \n \n \n \n \n Total cash costs\nand all-in sustaining costs\n \n \n (“AISC”)\n \n \n were $607 per ounce and $924 per\nounce, compared to $592 per ounce and $744 per ounce for the same\nperiod in FY2020; For AISC computation details, refer to pages 15-17\nof the MDA for this Non-IFRS financial measure;\n \n \n \n \n \n \n Adjusted\nEBITDA\n \n \n was $6.6 million, compared to $8.7\nmillion for the same period in FY2020. For EBITDA computation details,\nrefer to pages 15-17 of the MDA for this Non-IFRS financial\nmeasure.\n \n \n \n \n \n \n Year ended December 31, 2021\n \n \n \n \n \n \n Net\nincome\n \n \n was $7.7 million for FY2021\n \n \n , a decline of 49%\n \n \n from $15 million for\n \n \n FY2020\n \n \n The decrease in net\nincome is due to the impact of the temporary suspension of all mining\no...