RE:RE:Maritime Resources Announced Its FS SgtFriday, I know I post a lot of stuff on this board so maybe some of the "important" ones are diluted in this mass of information, but the regulars here know that I'm a devotee cheerleader of a merge between MAE and SGNL.
MAE bought the Nugget Pond gold circuit from Rambler so their plan is to refurbish it and start producing gold. Their CAPEX is quite small at $75M to get going. They have a nice small deposit but they diluted shareholders like hell and I'm afraid that their 1M onces deposit (if we add Orion which will need to be permitted in a different process) will not interest any majors.
SGNL got some issues with Point-Rousse and they are struggling to find pay dirt to keep going. Tilt Cove is promising but needs a lot of love. If MAE and SGNL merges their operations in NFLD, that would certainly be a win-win situation for sure as it would expedite gold production from Hammerdown allowing time to explore the other properties of both companies in NFLD. It just makes sense then going along: creating a 150k oz producer in 2-3 years from now. But that would involve Goldboro, unless you want to sell Point-Rousse operations and let Tilt Cove go? In my opinion, a full merge is the better option and will definitely get both companies re-rated.
I tried to get MAE's shareholders opinion about a possible acquisition by SGNL in the MAE's different bullboards:
We can feel that they seem to be more open then when the hostile bid was done in 2018.