Majestic Gold Corp.
Majestic Gold operates two producing gold mines in Shandong Province, China -- Songjiagou and Mujin -- through majority-owned subsidiary Yantai Yuxin Mining. 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.
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 6.4/10.
Lifecycle Milestones
Construction Milestones
5 of 5 reached- Feb 2012 · Operating subsidiary Yantai Zhongjia Mining Co. first obtained an underground mining licence in May 2006 (exact day not found), renewed Apr 13, 2009. A combined open-pit/underground mining licence -- covering the mine's current open-pit configuration -- was granted Feb 10, 2012, replacing the earlier underground-only licence; a safety production permit for the combined operation followed Nov 26, 2012. Note this pit-specific licence postdates first production (May 2011, below) -- production initially proceeded under the pre-existing 2006 underground licence. · Source
- Reached — date not disclosed · Task #922: written as a real, undated MinerConstructionMilestone row (achievedDate intentionally null). Majestic Gold's Songjiagou open-pit 6,000 tpd ore processing plant demonstrably began construction in August 2010, following an April 13, 2009 mining-licence renewal and this miner's own PERMIT_GRANTED row (2012-02-10, a later/separate permit event). A construction decision necessarily preceded that build. Consolidating this miner's own constructionMilestone:CONSTRUCTION_DECISION MetricStatus research (Task #430 batch 5): no standalone board/FID release for the decision was located despite dedicated research, consistent with this miner's own CONSTRUCTION_START note reaching the identical conclusion independently. Recorded as reached-but-undated rather than continuing to leave the milestone entirely unrecorded.
- Reached — date not disclosed · Construction of the 6,000 tpd ore processing plant and related facilities began August 2010 and completed April 2011. No standalone board/FID release for this decision was located. · Source
- Reached — date not disclosed · Commercial gold production began at the Songjiagou Open-Pit Mine in May 2011 (exact day not found), operating at the time under the 2006/2009 underground licence. A separate, later underground-mine development achieved its own "full production" milestone in September 2019, after infrastructure completed Sept 2018 and a government safety-certification process. · Source
- Reached — date not disclosed · Genuinely reached with a clean single-complex story, but only month/year precision was found (no specific day): the Songjiagou Open-Pit Mine (Shandong, China) commenced commercial production in May 2011 -- Majestic's own original development, continuously owned since -- with a Songjiagou Underground Mine addition reaching commercial production in September 2019 (same complex, same continuous owner, matching the satellite-addition precedent, batch5). The operation has been through several recent temporary suspension/resumption cycles (2025-2026). Left null rather than guess a day for the original May 2011 milestone. This row was missing entirely prior to 2026-08-21 -- a genuine data gap, not a stage error; Miner.stage was already correctly PRODUCTION. · 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.
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 the underlying research identifies — whether a major already holds a JV, earn-in, or 5–19.9% strategic stake — isn't tracked yet and is absent from this score.
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. [Note: an activist shareholder group (~12.79% holder) filed an advance notice to nominate 6 directors ahead of a July 31 2026 AGM at Majestic Gold; roster written here reflects the company's own current management page as of this backfill.]
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
We haven't parsed this company's PEA/PFS/FS recommendations yet — cut-off grade, mine life, DCF/NPV, and the report's own next-steps guidance are a planned research pass, not live data for every company yet.
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). Separately, a Probable Reserve figure of approximately 872,700 oz (open pit) + 23,700 oz (underground) is reported in secondary coverage but could not be independently confirmed against the primary technical report in this pass -- the source PDF (both the minedocs.com and HKEX-filed copies) is image/scan-compressed and could not be text-extracted. 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.