Why nobody did value the  new goldletter report ? http://www.goldletterint.com/documents/pdf/MAJESTICGOLD_GLSP_Sept2012Update.pdf

 In accordance with it, a new (!!) mine plan is obviously ready. Up to now we have assumed  that Majestic will reach 25000 ounces /Quarter  first  in the 3rd quarter of 2013. Now we see that the gold production becomes hard rebooted. In 3 months, i.e. already at the end of December we are in full production , the first quarter in 2013 we are projected with 27500 ounces = for 2013 at minimum  110000 ounces. With 350$ / ounce cashcosts (Goldletter wrote even: 321$ / ounce) and approx.  1800$ / ounce Goldprice we will make  156 million dollars (!) and a P/E ratio 2013 of 0.79!! (With 839 million shares). If we calculate  with 1.1 billion shares the P/E ratio 2013 is  just 1.07!!

And the possible 4th mill is not included for an additional share push…

This year we will come out  with about 29000 ounces. P/E ratio 2012: 4.3 (calculated with 1000$ / ounce profit)

Estimates in accordance with Goldletter:

3. Quarter (at the end of September, 2012): 7000 ounces

4. Quarter (at the end of December, 2012): 13000 ounces

1. Quarter (at the end of March, 2013): 27500 ounces


Who believes here seriously, the rocket will not overshoot during the coming weeks / months? In addition still there comes the cherry topper  Hong Kong Listing. I still assume with the fact that we see this (or at minimum  the announcement) still this year. Up to now (this year) many prospective shareholders were still reserved, because Majestic could not raise the monthly production for one year by getting rid of the Halo of rock. This has lasted longer than we all thought .Now its done.  With the production update probably  next week, maybe we see the rising of ounces produced. I am very confident! The activities (e.g., that now mails are answered again,  that the homepage will be updated, stock market letters and newsletter writers jump in again) indicates for me also this positive direction.

Best regards Fred