Majestic Gold Corp.
Majestic Gold operates the producing Songjiagou gold mine in Shandong Province, China, through majority-owned subsidiary Yantai Yuxin Mining, and holds an indirect 52% interest in Yantai City Mujin Mining, owner of the producing Mujin Gold Project, also in Shandong. Q1 2026 (ended Mar 31, 2026) revenue was US$23.6 million, up 20.9% year over year, with net income of US$7.0 million; both mines temporarily suspended operations in February 2026 following a third-party mine accident in Yantai and resumed in March 2026. Cash stood at US$171.6 million with working capital of US$126.1 million at quarter-end. On 26 August 2026 Majestic announced the proposed sale of that entire 52% interest in Yantai Mujin, with related shareholder loans, for about US$25.9 million (RMB174.0 million); completion is subject to conditions precedent and regulatory approvals, and no completion had been announced by its 22 September 2026 release.
Notable vs. Peers
- Jurisdiction risk score of 4/10 is meaningfully riskier than the peer average of 7.8/10.
- Financials score of 10/10 is stronger than the peer average of 6.5/10.
- Trading within 5% of its 52-week low — weak recent price momentum.
Lifecycle Milestones
Construction Milestones
5 of 5 reached- Feb 2012 · Source
- Reached — date not disclosed
- Reached — date not disclosed · Source
- Reached — date not disclosed · Source
- Reached — date not disclosed · Source
Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.
Jurisdiction (40%)4/10
Operates under a Chinese mining license (Shandong Province) via a majority-owned local subsidiary -- capital-repatriation controls and regulatory opacity for foreign-listed operators add real risk beyond what a stable rule-of-law jurisdiction would carry, despite the mines' established production history.
Infrastructure (40%)10/10
A confirmed mill, confirmed road access, confirmed grid power, and a confirmed tailings facility at Songjiagou Gold Mine, Shandong Province.
Nearby producing mine (20%)Not yet researched
No project coordinates on file yet, so distance to a producing mine can't be measured.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
No producer holds a disclosed stake on file (holder register researched) See holders
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score: Not yet researched
Distance not yet researched: no project coordinates on file
Distance can't be measured without coordinates, so excluded rather than counted as far.
Weight 22.5% - Lifecycle stageSub-score:5.5/10
Stage: Production
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 57% here - JurisdictionSub-score:4/10
China: jurisdiction score 4/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 26% here - CommoditySub-score:10/10
Primary commodity: Gold
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 17% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
President and CEO, and Director, of Majestic Gold Corp. Professional Geologist (P.Geo., APEGBC) with a B.Sc. Geology, University of British Columbia (1987); extensive mineral-exploration experience across North America, Central America, and Asia, including work in British Columbia, Panama, Peru, Chile, and China; currently an independent director of five other TSX Venture-listed companies.
CFO and Corporate Secretary of Majestic Gold Corp. (CPA, CGA) 25+ years of corporate experience in Canada, the United States, South America, Africa, and China; specializes in financial management, equity financing, corporate governance, and securities compliance; previously CFO for multiple TSX/TSXV mining companies.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
No shareholder information could be located for Majestic Gold from any available source. It is an operating gold producer — the Song Jiagou mine in Shandong, China — but no beneficial-ownership register, named holder, or insider transaction is on record here, and reported institutional ownership is nil. The score reflects the absence of visible evidence rather than a finding that no informed capital is present.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Majestic Gold operates the Songjiagou and Mujin gold mines in Shandong Province, China, and holds an effective 44.06% of the Songjiagou project through its 58.75%-owned subsidiary Persistence Resources, which owns 75% of it. Songjiagou's open pit, served by a 6,000 tpd processing plant, has produced commercially since May 2011, and an underground mine was added in 2019. Indicated resources at Songjiagou, effective 30 June 2023, contain 1,283,000 oz of gold, with no measured category, plus 1,240,000 oz inferred. Both mines were temporarily suspended in February 2026 after a third-party mine accident in Yantai and resumed in March 2026, and Songjiagou's all-in sustaining cost rose to US$1,994/oz in the first quarter of 2026 from US$1,584/oz for 2025. First-quarter 2026 revenue was US$23.6M, up 20.9% from a year earlier, with net income of US$7.0M and cash of US$171.6M at quarter-end.
Majestic Gold's NI 43-101 technical report for the majority-owned (94%) Songjiagou Gold Project, Shandong, China, prepared by SRK Consulting (China) Ltd., dated 14 Dec 2023, with resource/reserve figures effective 30 Jun 2023: the company's own public shareholder communications state a total delineated NI 43-101 resource of approximately 3.0 million oz gold (approx. 1.2 Moz Indicated + 1.8 Moz Inferred). The 3.0 Moz total resource figure is used here as the better-corroborated number (repeated consistently across the company's own 2026 shareholder communications and independent profile sources); the precise category split and reserve figure are flagged for a future pass to confirm once the primary report can be OCR'd.