Majestic Gold Corp. Reports 2023 Q3 Results

About this update from Majestic Gold Corp.

[{"type":"text","content":"Majestic Gold Corp. Reports 2023 Q3 Results \n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, British Columbia -\n \n \n TheNewswire -\n \n \n November 28, 2023 -\n \n \n Majestic Gold Corp.\n \n \n (“\n \n \n Majestic\n \n \n ” or the\n“\n \n \n Company\n \n \n ”)\n \n \n (TSX.V:MJS)\n \n \n reports its\nfinancial and operational results for the nine months ended September\n30, 2023.  The following financial results are expressed in US\ndollars unless otherwise stated.\n \n \n \n \n \n \n PERFORMANCE\nHIGHLIGHTS\n \n \n \n \n Nine months ended September 30, 2023\n \n \n \n \n \n \n Gold production\n \n \n was 23,206\nounces, compared to 29,717 ounces produced for the FY2022 comparative\nperiod;\n \n \n \n \n \n \n Revenue\n \n \n was $40.8 million,\ncompared to $50.5 million for the FY2022 comparative\n \n \n period\n \n \n \n \n \n \n Gross profit\n \n \n from mining\noperations was $19.2 million, compared to $28.2 million for the FY2022\ncomparative\n \n \n period\n \n \n \n \n \n \n Net income\n \n \n was $10.3 million,\ncompared to $16.4 million for the FY2022 comparative\n \n \n period\n \n \n \n \n \n \n Cash flow from operating activities, excluding changes\nin non-cash working capital\n \n \n was $19 million,\ncompared to $25.3 million for the FY2022 comparative\n \n \n period\n \n \n For computation details, refer\nto 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 \n \n September 30, 2023. The Company had\ncash and short-term investments of $63.3 million (December 31, 2022 -\n$52.7 million) and working capital of $43.8 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 nine-month period ended September 30,\n2023, were $794 per ounce and $925 per ounce, compared to $629 per\nounce and $720 per ounce for the FY2022 comparative\n \n \n period\n \n \n . For AISC computation details,\nrefer to pages 13-15 of the MDA for this Non-IFRS financial measure;\n \n \n \n \n \n \n Adjusted EBITDA\n \n \n for\n \n \n the nine-month period ended September 30, 2023, was $19.9\nmillion, compared to $29.7 million for the FY2022\ncomparative\n \n \n period\n \n \n .\n \...

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