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Maritime Resources Corp V.MAE

Alternate Symbol(s):  MRTMF

Metals & Mining Gold
Maritime Resources Corp. is a Canada-based gold exploration and development company focused on advancing the Hammerdown Gold Project in the Baie Verte District of Newfoundland and Labrador. The Company holds a 100% interest directly and subject to option agreements entitling it to earn 100% ownership in the Green Bay Property which includes the former Hammerdown gold mine and the Orion gold project. It controls over 439 square kilometers (km2) of exploration land including the Green Bay, Whisker Valley, Gull Ridge and Point Rousse projects. The Company owns mineral processing assets in the Baie Verte mining district, which include the Pine Cove mill and the Nugget Pond gold circuit. It also owns the Lac Pelletier gold project in Rouyn Noranda, Quebec. Its land holding, across all its properties, covers an area of approximately 43,925 hectares, of which the Company holds a 100% mineral rights interest in 37,050 hectares with the remaining 2,175 hectares under option agreements (100%).


TSXV:MAE - Post by User

Maritime Resources Corp > POG at $2175…..Updated March Corporate Presentation
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Comment by nozzpackon Mar 08, 2024 9:11am
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Post# 35922383

RE:POG at $2175…..Updated March Corporate Presentation

RE:POG at $2175…..Updated March Corporate Presentation This FS upgrade in the new CP  reflects just the higher Price of Gold.

It does not reflect the replacement of the Nugget Pond mill and its $40 m + capex upgrade with the Pine Cove mill currently operating , much closer to HD and with twice the milling capacity , elevating production up to 100,000 ounces from 50,000 ounces and extending mine life well beyond 5 years.

Combined, these inclusions in an updated FS currently underway are going to show an IRR above 100 % and a NPV in the $300 million range at $2150 POG which now looks to be quite realistic .

An IRR above 100% for a gold mine  is virtually unheard of...


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