Majestic Gold Corp. is a Vancouver-based; TSX Venture Exchange and Frankfurt Exchange listed gold exploration and development company with an advanced gold deposit in Shandong province of China. The company released an updated
NI 43-101- compliant, indicated and inferred gold resource estimate on its Song Jiagou property, presently the gold resource stands at 3.0 Moz ( indicated and inferred). The 2011 Preliminary Economic Assessment indicates the potential for very positive economics; highlights include a project NPV US$525 million (at 10% discount rate and US$973/oz gold price) and an IRR 78.9%. With the completion of the new 6,000 tonnes per day mill Majestic Gold is working towards a positive cash flow situation in the near term.