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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 Sep 18, 2024 10:15pm
94 Views
Post# 36230293

Why is this stock at an all time low?

Why is this stock at an all time low?Besides a couple thousand dollars worth of shares on the bid at .04, the bid is really at .035.

You all might not care.  But I do.

That $8 million they raised... well they had to have almost a million forwarded to them in August to pay for insurance etc.

they have a few hundred thousand dollars of that $5 or $6 million they have left planned for drilling lol 3000 meters.  That's about $20 million raised in the last year and a bit, and they have a few hundred thousand to spend on exploration.

The mill they acquired... with all it's potential.  Has only been a money drain so far..  That $175 000 or so they received last quarter for recovered gold.  How much did that cost them?

They have enough cash to survive until the spring.  With the quarterly burn rate.

These guys have done nothing since I invested about 18 months ago.  And the price is lower.

I don't care aboiut all these posts saying how rosy everything is.

Wait till spring.. when they run out of money and have a whole bunch of money owed coming due in the summer.

I've been holding it... but so far the only... I mean the only people getting rich off this stock is management and traders.

Call me an annoyed investor.

Unless they do something in the near term... Maritime will go bankrupt, then Dundee will take over and make deals with Firefly or NFG.

It's 18 months I been watching this play out.  And it was going on for years before this.

They do nothing to increase shareholder value.
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