February Corporate Presentation A few additions , the most significant is repurposing the Pine Cove mill for processing of tailings and waste ore fines for 2024.
My estimates of waste ore for aggregates were way too low.
I looked at only the fines from the tailings waste.
But, the total waste ore diverted to aggregates was 4.5 million tons just in the past two years and well over 10 m tons todate.
Grades would be very low in this waste rock but huge volumes have been crushed todate so the gold fines could be a signifucant number of ounces .
Lets take the 4,5 m tons of waste rock plus another 500,000 m tons of processed ore for the past two years for a total of 5 million tons .
At just 0.3 grams per ton ( head grade is about 3 grams per ton at Pine Cove ) there would be about 1.5 million grams of fines which is 50,000 ounces of fines...worth over $100 million .
These fines are almost pure gold requring only minimal processing to gold dores for final smelting .
At the same time, this will reduce the rehabilitation costs .
This is illustrative but the very high gross margins , from very modest recovery costs means very robust cash flows .
Installing a gravity circuit and all the fines can be recovered on-site
And let's not forget the much higher grade fines that would have normally been left as waste once the HD mine begins production in 2025.
Plus, the even higher grade waste fines that would be discarded with NFG high ore being tolled.
All of a sudden , Maritime is making big profits from what would normally be discarded ore , while reducing rehabilitation costs .
Who would have ever thought of this value maximization process ?.
https://maritimeresourcescorp.com/site/assets/files/5518/february-1-2024-presentation.pdf