Majestic Gold Navigates Tough 2023 with Strong Finances

Majestic Gold (TSE:MJS) has released an update.

Majestic Gold Corp. reported a decrease in annual gold production by 18% and a 30% drop in net income for 2023, attributed to expansion activities and lower gold sales. Despite a challenging year, the company strengthened its financial position, ending with $98 million in cash and a successful IPO of its subsidiary, Persistence Resources Group Ltd. on the HKEX. The final quarter saw improved revenues and net income compared to the same period in the previous year.

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