Northwire Canada EditionWednesday, July 22, 2026
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CTV 0.110 −4.3% III 7.58 +5.3% NAM 0.240 −2.0% MOG 0.540 +8.0% LUG 79.10 +2.9% TWR 0.165 +3.1% LALI 0.050 +0.0% NFG 2.02 +3.1% APMI 0.145 +0.0% CDE 21.58 +8.3% NVLH 0.075 −11.8% PHNM 0.345 +4.5% AEC 6.71 +11.5% IAU 1.90 +7.3% LOD 0.295 +0.0% FVL 0.990 +8.8% CTV 0.110 −4.3% III 7.58 +5.3% NAM 0.240 −2.0% MOG 0.540 +8.0% LUG 79.10 +2.9% TWR 0.165 +3.1% LALI 0.050 +0.0% NFG 2.02 +3.1% APMI 0.145 +0.0% CDE 21.58 +8.3% NVLH 0.075 −11.8% PHNM 0.345 +4.5% AEC 6.71 +11.5% IAU 1.90 +7.3% LOD 0.295 +0.0% FVL 0.990 +8.8%
Production / Operations Routine +

Majestic Gold Resumes Operations at Songjiagou Open-Pit Mine

Majestic Gold resumes full production at flagship Songjiagou mine following a period of regulatory and safety-related volatility in China.

By The Northwire Desk — AI Analysis Mar 10, 2026 · 09:28 MJS · 0.16 Majestic Gold Corp.
Executive Summary

The most recent news (March 10, 2026) confirms that Majestic Gold has resumed operations and production at its flagship Songjiagou Open-Pit Mine. This follows a one-month temporary suspension initiated on February 10, 2026, which was triggered by a regulatory directive from the Yantai Emergency Management Bureau. The suspension was not due to an internal failure but was a blanket safety order following a serious accident at an unrelated third-party mine in the same region.

Material Impact
  • Operational Recovery: The resumption is a critical positive development. Songjiagou is the company's primary cash flow driver. A prolonged shutdown would have severely impacted the 2026 production guidance and cash flow.
  • Regulatory Environment: While the resumption is positive, the history of suspensions (September 2025 for permits, July 2025 for a fatality, and February 2026 for regional safety) highlights a high-risk regulatory environment in Shandong Province.
  • Financial Resilience: Despite these interruptions, the company maintains a massive cash pile (over US$100M as of late 2025). The impact of a one-month shutdown is mitigated by this liquidity, but "suspension costs" (which were $970,692 in Q3 2025) will likely reappear in the next quarterly report.
  • In-Line with Expectations: The market generally expects these types of "blanket" safety suspensions in China to be resolved within 30-60 days; thus, a one-month turnaround is a routine positive outcome.
MJS · Price
Company Overview

Majestic Gold Corp. is a gold producer focused on China. Its flagship project is the Songjiagou Gold Mine (SJG) located in Shandong Province. The project consists of an open-pit and an underground operation. The company also recently consolidated the Mujin Gold Project (Denggezhuang/DGZ mine) through its HKEX-listed subsidiary, Persistence Resources Group Ltd. Majestic operates as a high-margin producer with significant cash reserves but faces recurring operational halts due to China's stringent and often reactive safety enforcement.

Read the original news release →

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Regulatory