Majestic Gold Corp. Announces Q2 2026 Results and Declares Special Cash Dividend

Majestic Gold Corp. reported first-half 2026 financial results for the six months ended June 30, 2026, highlighting a 23.2% increase in revenue to $52.7 million from $42.7 million in the same period last year. Gross profit from mining operations rose 44% to $31.8 million, while net income increased 25.5% to $12.6 million from $10.1 million. Adjusted EBITDA climbed to $27.8 million from $22.1 million.

Gold production for the period totaled 12,027 ounces, a 24.3% decline from the 15,879 ounces produced in H1 2025. The company attributed the lower output to a temporary Yantai-wide mining suspension in February 2026 following an unrelated third-party mine accident, with operations resuming at the end of March 2026.

Cost metrics increased during the period. Total cash costs rose to $1,415 per ounce sold from $1,135, and All-In Sustaining Costs (AISC) increased to $2,167 per ounce sold from $1,394. Average realized gold prices were $4,555 per ounce sold, up from $2,959.

On the balance sheet, cash and cash equivalents stood at $215.3 million at June 30, 2026, up from $167.1 million at the end of fiscal year 2025. Working capital increased to $167 million from $117.3 million, while total equity reached $295.7 million and total assets were $395.7 million.

The release also confirmed the close of a private placement on June 30, 2026, totaling approximately C$49.2 million. Majestic Gold re-referenced the August 26, 2026 proposed disposal of its indirect 52% interest in Yantai Mujin for approximately US$25.9 million. Additionally, the board declared a special cash dividend of C$0.0055 per share, totaling approximately C$7.8 million, payable on October 9, 2026.

Majestic Gold Corp. (MJS) released its latest earnings results, though most headline items had already been disclosed or telegraphed in the company’s Q1 2026 results and March 2026 operational updates. The production decline and February suspension were previously known, while the first-half All-In Sustaining Costs (AISC) spiked to $2,167 per ounce, continuing the negative trend seen in Q1 when AISC stood at $1,994 per ounce.

Profit growth was driven almost entirely by commodity prices rather than operating outperformance. The company also announced a special dividend, which remains small relative to its cash balance and market capitalization. Additionally, the disposal of Mujin and the private placement were previously announced, meaning the current release adds limited new strategic information.

While no formal full-year production, cost, or capital expenditure guidance was cut, the release confirms a deteriorating production and cost profile.

Majestic Gold Corp. is a British Columbia-based junior gold producer listed on the TSXV under MJS. Its core producing assets are located in eastern Shandong Province, China. The company’s flagship asset is the Songjiagou Gold Mine, while its secondary asset is the Mujin Gold Project, which includes the DGZ, HH, and CH underground mines.

The company is proposing to dispose of its indirect 52% interest in Yantai Mujin. In July 2026, Majestic announced a 20.96% strategic investment in GoldStone Resources Limited, a London-listed gold company with assets in Ghana and Sierra Leone. This investment represents the company’s first disclosed strategic investment outside China.