RE:2018….Ananconda makes Takeover offer for MaritimeAngelo was a superb CEO unlike his successor who has failed on every task he has undertaken.
So, 14 cents then and after acquiring those Point Rousse assets, easily $0.30 now.
A very cogent argument can be made that Maritime is the pre eminent Gold stock not only in NL but in Atlantic Canada.
Marathon is loaded with excess debt and its future, although still viable, has much less allure than it formerly had, as is obvious from its share price.
SGNL has substantial debt coming due, limited remaining working capital and an asset that still requires substantial infill drilling in order to calculate realistic reserves ...and then substantial capex to build a mill and mining operation .
Shall we say that current shareholders will be diluted to death.
That leaves NewFound Gold.
A world class asset that keeps on growing. Its shareholders ..including me..want to see early cash flow from its several high grade open pits in order to boost the share price and demonstrate profitable producibility .
That can't happen within 5-6 years in the absence of milling capacity .
The only choice will be Maritime's two mills .
And just developing one of the several open pits will take at least 3 years .
Further, by acquiring Maritime, it will get within 10-12 months the very rich cash flows from the HammerDown mine.
Dundee is in the driver seat in any NFG offer and, as demonstrated by rejecting the Anaconda offer, they have a strategic view for Maritime.
It will involve Maritime retaining its exploration assets..in essence becoming the exploration arm of NFG which will include QueensWay South.
NFG has its hands full with exploring and developing QueensWay North , so spinning out QW South to its exploration arm is a natural .
QW South has most of the lithological features along the same faults as QW North and early exploration and drilling confirms this.
If this we're to happen, NewCo Maritime could easily become much more than a 10 bagger which it now is.
As I said earlier, u come across these extreme undervalued assets only once or twice in a lifetime .
I am living out one now in VLE..
This will be a much quicker second one.
GLTA