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Majestic Gold ( (TSE:MJS) ) just unveiled an announcement.
Majestic Gold Corp. reported a significant financial performance for the year ending December 31, 2024, with a net income of $20.5 million, marking a 68% increase from the previous year. The company’s revenue rose to $71 million, driven by a 23.3% increase in the average realized gold sales price. Despite challenges from ongoing expansion work at the SJG open pit, gold production increased by 3.6% to 31,949 ounces. The company maintained a strong financial position with cash reserves of $100.7 million and working capital of $86.3 million. Majestic also expanded its operations by acquiring a 52% equity stake in Yantai City Mujin Mining Company Limited and the Muping Gold Project, indicating strategic growth and investment in new projects.
More about Majestic Gold
Majestic Gold Corp. operates in the mining industry, focusing primarily on gold production. The company is involved in the extraction and sale of gold, with a market focus on increasing production efficiency and expanding its mining operations.
YTD Price Performance: 31.25%
Average Trading Volume: 142,737
Technical Sentiment Signal: Sell
Current Market Cap: C$109.5M
For detailed information about MJS stock, go to TipRanks’ Stock Analysis page.