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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 15, 2024 8:09am
46 Views
Post# 36314469

RE:So Nozz.... here is my response to your challenge :)

RE:So Nozz.... here is my response to your challenge :)

Just one correction .
The costs are in CAD so the reduction in total ( opex + capex ) is $92.60 million cad which is equals to about  $ 67 million USD.

Its fairly simple to calculate the AISC adjusted for these savings .

The 2022 FS AISC was $917 USD per ounce which for 247,000 ounces produced , amounted to a total all in cost of production of $227 million USD .

Remove the accrued savings of $67 million USD and divide by 247,000 ounces and the AISC is $645 USD per ounce, had the Pine Cove mill been used instead of the Nuggett Pond in the 2022 FS.

This is in the lower decile of current AISC for gold producers .

The Big Factor is that most have had to take on substantial debt to build the mine and infrastructure, including a new mill.

This cost is part of the AISC calculation 

Essentially, from the stockpiles monetization alone, we  not only got the Pine Cove  mill but all of the essential infrastructure for free....and close to 100,000 ounces of gold...Stoger, TSF #1 , Pine Cove..

Ancillary assets associated with the Aquisition of the Nuggett Pond mill were sold, essentially getting that mill at zero cost..

And they are still scrounging ...


 


 

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