Majestic Gold Corp. Reports 2023 Q2 Results

About this update from Majestic Gold Corp.

[{"type":"text","content":"Majestic Gold Corp. Reports 2023 Q2 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, British\nColumbia -\n \n \n TheNewswire -\n \n \n August 29, 2023 -\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 reports its financial and\noperational results for the six months ended June 30, 2023.  The\nfollowing financial results are expressed in US dollars unless\notherwise stated.\n \n \n \n \n \n \n PERFORMANCE\nHIGHLIGHTS\n \n \n \n \n Six months ended June 30, 2023\n \n \n \n \n \n \n Gold production\n \n \n was 16,575\nounces, compared to 19,864 ounces produced for\n \n \n the\n \n \n FY2022\n \n \n comparative\nperiod\n \n \n \n \n \n \n Revenue\n \n \n was $28.6 million,\ncompared to $34.5 million for the FY2022\n \n \n comparative period\n \n \n \n \n \n \n Gross profit\n \n \n from mining\noperations was $13.6 million, compared to $19.1 million for\nthe\n \n \n FY2022\n \n \n comparative\nperiod\n \n \n \n \n \n \n Net income\n \n \n was $7.3 million,\ncompared to $11.3 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 operating activities, excluding changes\nin non-cash working capital\n \n \n was $13.4 million,\ncompared to $18.7 million for the\n \n \n FY2022\n \n \n comparative period\n \n \n For\ncomputation details, refer to pages 13-15 of the MDA for this Non-IFRS\nfinancial measure;\n \n \n \n \n \n \n \n Strong financial position\n \n \n \n \n at\n \n \n \n \n \n June 30, 2023. The Company had cash\nand short-term investments of $60.5 million (December 31, 2022 - $52.7\nmillion) and working capital of $41.1 million (December 31, 2022 -\n$36.4 million);\n \n \n \n \n \n \n Total cash costs and all-in sustaining\ncosts\n \n \n (“AISC”)\n \n \n for\n \n \n the six-month period ended June 30, 2023,\nwere $774 per ounce and $886 per ounce, compared to $654 per ounce and\n$743\n \n \n 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 EBITDA\n \n \n for\n \n \n the six-month period ended June 30, 2023, was $14.2 million,\ncompared to $20\n \n \n ...

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