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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 Oct 17, 2024 9:34pm
72 Views
Post# 36270936

RE:RE:RE:RE:RE:RE:RE:RE:Purposeful Delay in Share Consolidation ?

RE:RE:RE:RE:RE:RE:RE:RE:Purposeful Delay in Share Consolidation ?The updated FS will include and integrate contributions from Orion , the several new discoveries around the HD deposit plus Stoger .

These will form what I call the back 5 years of a 10 year LOM.
HD deposit is the front 5 years .

It is  fully permitted and already have a  FS .
Test mining beginning in mid summer of 2025 will progressively bootstrap its update .

This will be self funding to offset any capex costs, the amount being dependent on test mining production and the POG

More drilling is needed for the other deposits which will form the back 5 years .....adding ounces and converting resources to reserves.

This presumably will be done and funded by cash flows from the 5 year HD mine

Thats the general development activity timelines as I understand it
My apologies if I have confused the issue..
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