Maritime Resources Corp V.MAE

Tolling NFG Ore..The Dynacor Model

[nozzpack]

Based on Yesterdays NR, test mining of QWN will begin in the second half of 2025, consistent in timing 
with the planned expansion of the Pine Cove mill...probably along with FKY, consolidating the two. Nuggett Pond mills at Point Rousse.

How the Dynacor tolling model works is described below with 100,000 ounces tolled as an inllustrative example..

The Dynacor Tolling Model

Perhaps the one that might be used by Maritime..

Lets take 100,000 ounces per year as illustrative 

DNG pays 85% of Spot Price for gold ore delivered to the DNG mill.
Basically, equivalent to 15,000 ounces per year in a streaming deal

DNG then processes and mills that ore , and sells it at Spot Price...reporting gross sales as its revenue 

The operating margin is 11.5% of gross which is 11,500 ounces of operating cash flow .

The  net margin is about 6.5%  which is 6500 ounces as free cash flow

From this, DNG pays a dividend .

DNG has the only mill available to these miners.

Shoreline Aggregates...a JV partner of Maritime...then uses the waste ore for its aggregates market in the US .

Residual gold fines associated with this waste ore is then recovered by a gravity circuit installed at the outlet of Shorelines Wash plant .

Shoreline have the mining equipment..excavators etc..and crew such that Maritime is now employing Shoreline to reclaim  Maritime's TSF#1 , recovering tailings gold fines in the process.

Its a very efficient model , eventually recovering nearly 100% of the delivered contained gold.

Firefly...market cap $700 millin ..has already arranged with Maritime to use its Point Rousse Deep Water Port for its copper concentrate business.