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MAJESTIC GOLD CORP. Reports 2022 Q1 Results
(TheNewswire) Vancouver, British Columbia – TheNewswire - ...
About this update from Majestic Gold Corp.
[{"type":"text","content":"MAJESTIC GOLD CORP. Reports 2022 Q1 Results \n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n Vancouver, British Columbia –\n \n \n TheNewswire -\n \n \n May 12, 2022 -\n \n \n Majestic Gold Corp.\n \n \n (“Majestic” or the “Company”) (TSXV:MJS) reports its financial\nand operational results for the first quarter ended March 31, 2022.\n The following financial results are expressed in US dollars unless\notherwise stated.\n \n \n \n \n This release should be read in conjunction with the\nCompany’s unaudited condensed consolidated interim financial\nstatements for the quarter end March 31, 2022 and associated\nManagement Discussion and Analysis (“MD&A”) which are\navailable on SEDAR\n \n \n \n \n www.sedar.com\n \n \n \n \n and on the\nCompany’s website\n \n \n \n \n www.majesticgold.com\n \n \n \n \n .\n \n \n \n \n PERFORMANCE HIGHLIGHTS\n \n \n \n \n Three months ended March 31,\n2022\n \n \n \n \n \n \n Gold\nproduction\n \n \n increased by 94% to 10,071 ounces,\nfrom 5,203 ounces produced for\n \n \n the FY2021\ncomparative period;\n \n \n \n \n \n \n Gold\nrevenue\n \n \n was $17 million, an increase of 194%\nfrom $5.8 million for the FY2021 comparative period;\n \n \n \n \n \n \n Gross\nprofit\n \n \n from mining operations increased by 194%\nto $9.3 million, from $3.2 million for\n \n \n the\nFY2021 comparative period\n \n \n \n \n \n \n Net\nincome\n \n \n was $5.4 million\n \n \n , an\nincrease of 15% from $4.7 million for the FY2021 comparative period;\n \n \n \n \n \n \n Adjusted\nEBITDA\n \n \n was $9.5 million, compared to $3.5\nmillion for the same period in FY2021. For EBITDA computation details,\nrefer to pages 14-16 of the MDA for this Non-IFRS financial\nmeasure;\n \n \n \n \n \n \n Total cash costs\nand all-in sustaining costs\n \n \n (“AISC”)\n \n \n were $659 per ounce and $813 per\nounce, compared to $450 per ounce and $758 per ounce for the same\nperiod in FY2021; For AISC computation details, refer to pages 14-16\nof the MDA for this Non-IFRS financial measure;\n \n \n \n \n \n \n On March 30, 2022, the Company announced that its 94%\nowned subsidiary, SINOGOLD Resources Holdings Group Co., Ltd.\n(\"Sinogold\") has submitted its application for listing of\nshares in the capital of Sinogold (the \"Shares\") on the Mai...