On the on-site assay lab...

The Company continues to follow its mine plan developed in July 2011 and is currently mining and processing low grade material from the top of the main ore body. Production for the year ended September 30, 2012 totaled 18,969 oz gold. Currently all mined material is being processed regardless of grade until the Company completes its planned upgrade to the on-site assay lab. The upgrade was on hold for some period now due to the absence of the Company''s Vice-President, Exploration as a result of illness and given the difficulty in obtaining qualified personnel to replace him. The upcoming upgrade is expected to allow the mill operators to more closely monitor grades and direct mining activities. Additional personnel have now been retained and management recently returned from Yantai where meetings were held with the operator to finalize plans for the lab and look at possible improvements to quality assurance programs. It is not expected that the Vice-President, Exploration will be able to return to work in the near term. Nonetheless, the Company anticipates contracting the work for the proposed upgrades in early 2013. The objective is to lower cut-off grade, improve waste management and increase mill throughput using the pit optimization model developed by Wardrop, with the intention of ultimately ramping up production to the 100,000 oz/year range. In that regard, the Company''s representatives in China continue to work closely with SRK Beijing on an application to the Chinese Government to expand the mining zone and mining permit to 7,400 tpd.

On the IPO...

The Company, encouraged by its Asian investors and its financial advisors, has for some time been making investigations into the requirements for a Hong Kong Stock Exchange listing. The Company''s financial advisors have suggested that the Company''s value will be more readily recognized in Hong Kong and China than has been the case in North America, where a "China discount" seems to apply. The Company has increased its efforts in that regard since completing its equity financing during July, 2012. To date, Company representatives have met with prospective sponsors and lawyers, and have identified the requirements to be met to qualify for a listing in Hong Kong. One of those requirements is considered to be the issuance of a mining permit which will increase the permitted tonnage from 1,400 tonnes per day to 7,400 tonnes per day. In addition, it has been recommended that the Company wait until results from mining operations have proved the Optimized Pit Model on which the PEA is based. The Company has therefore determined that it is premature at this time to make a formal application for listing, but such a listing would greatly enhance the Company''s exposure in Asia, and in China in particular, and management intends to continue to work with its contacts in Hong Kong with the objective of satisfying the listing requirements as soon as practicable. However, there can be no assurance that the Company will make an application for such a listing or, if such an application is made, that it will be successful.
 

This looks like a response to this message board...

In response to various internet postings which have been brought to its attention, the Company advises that it does not have undisclosed drill results from Song Jiagou. During 2009, a small amount of drilling was done by contractors for Muping, the Company''s former JV partner. This was primarily a geotechnical drill program designed around a Chinese prepared underground mine plan. Majestic was not involved with the drill program, did not have a Qualified Person ("QP") on site and did not approve or participate in the drill program. Majestic also attributed little merit to any plan for an underground mine. Subsequent to the drill program, selected samples were analyzed by Muping. Some of those results were provided to Majestic, but to the extent they could be relied upon (as results obtained by a third party) they simply confirmed the presence of low grade gold mineralization in quantities similar to the average grade of the deposit, which had previously been disclosed by Majestic in NI 43-101 compliant reports. They were therefore not material and they were not published. All NI 43-101 compliant results from Song Jiagou have been disclosed and are reflected in the PEA