Majestic Gold Corp. Reports 2023 Q1 Results

About this update from Majestic Gold Corp.

[{"type":"text","content":"Majestic Gold Corp. Reports 2023 Q1 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 May 29, 2023 -\n \n \n Majestic Gold Corp.\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 reports its financial and operational results for the first\nquarter ended March 31, 2023. The following financial results are\nexpressed in US dollars unless otherwise stated.\n \n \n \n \n OPERATIONAL HIGHLIGHTS\n \n \n \n \n Three months ended March 31,\n2023\n \n \n \n \n \n \n Gold\nproduction\n \n \n was 8,127 ounces,\n \n \n compared to\n \n \n 10,071 ounces produced\nfor\n \n \n the\n \n \n FY2022\n \n \n comparative period\n \n \n \n \n \n \n Revenue\n \n \n was $14 million, compared to $17\nmillion for the FY2022\n \n \n comparative\nperiod\n \n \n \n \n \n \n Gross\nprofit\n \n \n from mining operations was $7 million,\ncompared to $9.7 million for the\n \n \n FY2022\n \n \n comparative period\n \n \n \n \n \n \n Net\nincome\n \n \n was $4 million\n \n \n ,\ncompared to\n \n \n $5.4 million for\n \n \n the\n \n \n FY2022\n \n \n comparative period\n \n \n \n \n \n \n Cash flow from\noperating activities, excluding changes in non-cash working\ncapital\n \n \n was $7.2 million, compared to $7.7\nmillion for the\n \n \n FY2022\n \n \n comparative period\n \n \n For computation\ndetails, refer to pages 13-15 of the MDA for this Non-IFRS financial\nmeasure;\n \n \n \n \n \n \n \n Strong financial position\n \n \n \n \n at\n \n \n \n March 31, 2023. The Company\n \n \n \n \n had cash and short-term investments\nof $58.2 million (December 31, 2022 - $52.7 million) and working\ncapital of $41.3 million (December 31, 2022 - $36.4 million);\n \n \n \n \n \n \n Total cash costs\nand all-in sustaining costs\n \n \n (“AISC”)\n \n \n for\n \n \n the first\nquarter of FY2023\n \n \n , were $730 per ounce and $845\nper ounce, compared to $659 per ounce and $763 per ounce for\n \n \n the\n \n \n FY2022\n \n \n comparative period\n \n \n . For AISC\ncomputation details, refer to pages 13-15 of the MDA for this Non-IFRS\nfinancial measure;\n \n \n \n \n \n \n Adjusted\nEBITDA\n \n \n for\n \n \n the first\nquarter of FY2023\n \n \n , wa...

More updates from Majestic Gold Corp.