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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

Comment by nozzpackon May 09, 2024 11:18am
114 Views
Post# 36031229

RE:If NFG has made a decision on toll mining

RE:If NFG has made a decision on toll miningNFG hired Ronnie in 2022 to prepare for a decision to Early mine .
Within 2 weeks of MAE acquiring Point Rousse, NFG had their Tolling arrangement .

NFG have high grade open pit ore.

It can only be processed at Point Rousse .

Firefly only have 1500 tpd Nuggett Pond mill.
Not nearly enough for their production plans.

Point Rousse capacity can double that, leaving us with the Nuggett Pond facility with its copper concentrate circuit.

Firefky already has a JV arrangement for Point Rousse with MAE.
It needs Gold and MAE TSX listing .

One way or another, economics suggest that one of these will buy out MAE.

AIMHO
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