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Maritime Resources Corp V.MAE

Alternate Symbol(s):  MRTMF

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

Post by shiftyoneon Mar 14, 2024 5:04pm
62 Views
Post# 35933622

There have been no financials for a while.

There have been no financials for a while. The audited annual will come out the end of April.

But the corporate presentation Feb 14 or so stated they had 1 million of working capital.

The end of Sept they had 3.4 million cash and another 800 000 in receivables.

So they had a million a month ago.

Management and rent are close to $200 000 a month at least

They apparently have employees working on the gold fines.  That is going to cost money.


How long can they continue?  they must be down to a few hundred thousand now, if the corporate presentation was accurate.  That is like a months worth of money if they do nothing.

Talk to us boss.... it's a $20 million dollar market cap.  How do you plan to go forward?  Or should we just have blind faith and hope that you work it out.  While you are holding on just by your fingernails as far as we know.
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