The Songjiagou Operations consists of SJG Open-Pit Mine, SJG Underground Mine and the processing plant to produce gold concentrate.
Open pit expansion commenced in fiscal 2022 Q2. The Majestic expects to complete the expansion work on the third bench in the fourth quarter of 2023 and the fourth bench in the third quarter of 2024.
In March 2021, the Shandong Provincial Government mandated the immediate closure of all non-coal operations in the province, which included the Songjiagou Gold Mines. On April 29, 2021, and August 5, 2021, the Majestic obtained the governmental approvals to resume mining operations at the Songjiagou Underground Mine and SJG Open-Pit Mine respectively, following successful completion of the cautionary safety inspections. |