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Majestic Gold Corp. reported significant financial improvements for the year ended December 31, 2020. Gold revenue increased by 30% to $52.4 million, while gross profit rose 127% to $28.2 million. The company achieved a net income of $15.1 million, up from $4.3 million in FY2019. Although gold production decreased to 34,236 ounces, cash flow from operating activities surged to $37 million. Total cash costs were reduced to $588 per ounce, reflecting operational efficiency.
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