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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 > Very Rich Stockpiles at Betts Cove mine
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Comment by nozzpackon Sep 08, 2024 12:21pm
47 Views
Post# 36213812

RE:RE:RE:Very Rich Stockpiles at Betts Cove mine

RE:RE:RE:Very Rich Stockpiles at Betts Cove mineIt has a balance sheet overloaded with debt to equity.
It has no production and the mine will cost close to $250 million and take 6-7 years to build at considerable equity dilution .

Holding might get you a modest buyout price which I cannot judge.

I sold out much earlier as I felt that Goldboro lacked the eye opening intercepts and would be massively diluted by the costs of building a mine.

I bought MAE with my sale.
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