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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 Nov 04, 2024 5:47am
83 Views
Post# 36294709

RE:News,,Firefly Acquires Signals Tilt Cove Project

RE:News,,Firefly Acquires Signals Tilt Cove Project

I thought that Maritime might acquire this very attractive project but they already have too much on their plate.

So, Firefly is quickly acquiring the majority of strategic assets on the Baie Verte Peninsula.

The largest remaining and most strategic of all is Maritime .

The marriage of Firefly and Maritime is almost certain imo because of the compelling accretive economics.

Firefly is still raising cash.
Its market cap is now $705 million CAD......greater than that of NFG..and 16 times that of Maritime.

Fundamentally, there is no reason for that except that  Firefly has been receiving aggressive promotion 
while ours has yet to be kick started .

Or, that may be by design...20 cents looks awfully good compared to 6 cents, even tho 20 cents is well below our fair value.

So we are in a juicy sweet spot.

Maritime is extremely desirable to NFG and its early production plans which cannot proceed without our gold mills and the strategic advantages to Firefly have been described here many times.

Its not improbable that we merge/ acquired by Firefly, and NFG, having no other milling option, activates the Milling MOU.

Firefly has to expand its milling capacity as its current Nuggett Pond mills can deliver less than 10,000 tons of copper per year...consolidation at Point Rousse is obvious as already described.

Maritime is planning to expand as well....perhaps indicative of what is to come.
Lets also not forget that, with its mining and excavation assets ,Shorelines is now Maritime's reclamation partner .

By my estimate there is perhaps 60,000 + ounces of gold equivalent in the closed Nuggett Pond tailings pond, which must be reclaimed by Firefky as Ramblers acquirer .

So, things are coming together quite well for us, including a desirable TSX listing that can easily be upgraded to the Senior TSX....and perhaps being assigned developer of Pickle Crow..

Hold onto your shares and keep some dry powder,.



 

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