Majestic Gold Corp. provided a corporate update for its Songjiagou Gold Mine ("Songjiagou") operations in Shandong Province, China.
The Company's main priority in 2015 will be the optimization of commercial gold production at Songjiagou through the adoption of strict grade control and mining procedures that are intended to facilitate higher gold output and the realization of lower production costs. This optimization program has become even more important given the fact the Company recently obtained approval for a 42% expansion in the area available for open pit mining operations. Management's longer term objective is to become a China-based mid-tier gold producer through incremental production increases at Songjiagou and by way of acquisitions and/or strategic alliances.