Vancouver, British Columbia — on April 17, 2026 Majestic Gold Corp. released its consolidated results for the year ended December 31, 2026. The company detailed operational volumes, multiple cost metrics and balance sheet movements alongside corporate transactions involving its subsidiary Persistence. This summary captures the principal outcomes: top-line growth, a healthier liquidity position, shifts in unit costs and several strategic transactions that shaped the year’s financial profile.
The year produced a notable lift in revenue, which rose 25.8% to $89.3 million compared with $71.0 million in 2026. Gross profit from mining operations expanded by 30.8% to $47.6 million. At the same time, net income totaled $18.3 million, a 10.8% decline from the prior year’s $20.5 million. Operating cash generation improved: cash flow from operating activities reached $30.9 million, up 8.3% from $28.5 million in 2026. Annual gold production was 29,804 ounces, down 6.7% from 31,949 ounces the previous year, reflecting operational variability across the asset base.
Table of Contents:
Financial position and key metrics
Majestic closed the period with a strengthened liquidity profile: cash and cash equivalents were $167,097,897 (reported as approximately $167.1 million) versus $100,738,547 at year-end 2026. Working capital improved to about $117.0 million (FY2024 – $86.3 million), supporting near-term flexibility. Total assets stood at $340.3 million with total equity of $241.7 million. The company reported an annual Adjusted EBITDA of $45,482,094 for FY2025 compared with $38,305,756 for FY2024, underlining operational earnings before non‑cash and certain non‑recurring items.
Cost structure and definitions
Unit cost performance shifted materially during the year: total cash costs were $1,195 per ounce for FY2025 (FY2024 – $856 per ounce), while all-in sustaining costs (AISC) came in at $1,584 per ounce (FY2024 – $1,061 per ounce). Here All-in sustaining costs is presented as the comprehensive per-ounce measure that includes sustaining capital and certain corporate costs, and Adjusted EBITDA is the non-IFRS measure that excludes specified items to highlight operating profitability. The company points readers to pages 21–23 of the MD&A for detailed computations and reconciliations of these non-IFRS metrics.
Operational performance and quarterly details
Production and sales activity during the fourth quarter contrasted with the prior-year quarter. Q4 gold production totaled 7,134 ounces versus 7,782 ounces in the comparative period, while Q4 revenue was $25.6 million, a 34.8% increase from $19.0 million in the Q4 2026 comparable. The average realized gold price for the year was $3,283 per ounce (Q4 average realized price $3,915 per ounce), which helped lift gross profit for the period. Fourth-quarter operating cash flow improved to $13.3 million, up 44.0% from the prior-year quarter.
Operational implications
The drop in annual production to 29,804 ounces had an upward influence on unit costs, which is reflected in the higher total cash costs and AISC. Management emphasized that price realization, throughput variations and sustaining capital timing were driving components behind per-ounce metrics. Readers should consult the MD&A for mine-by-mine operational commentary and reconciliation of production to sales and realized pricing.
Corporate activity, distributions and next steps
During the year Majestic pursued portfolio moves and shareholder returns. On October 9, 2026 the company paid a dividend of CAD$0.0072 per share totalling CAD$7.5 million, representing an approximate yield of 5.14% at declaration. Through its subsidiary Persistence, Majestic acquired a 52% interest in Yantai Mujin and the Muping gold project for RMB81.9 million (approximately CAD$15.8 million). On October 14, 2026 Persistence completed a private placement on the HKEX raising HK$472 million (~$60.7 million) by issuing 400 million shares at HK$1.18 per share; recent closing price and market capitalization figures were also disclosed in the release.
Majestic continues commercial production at its Songjiagou operation and at the Mujin project area. The full audited consolidated financial statements and the associated MD&A for the year ended December 31, 2026 are available on SEDAR (www.sedarplus.ca) and on the company website (www.majesticgold.com). For investor inquiries, the contact provided is James Mackie, CFO and Corporate Secretary, telephone (604) 560-9060, email info@majesticgold.com. The release includes standard forward-looking cautionary language noting that actual results may differ due to risks and uncertainties described in the MD&A.