Maritime Resources Corp V.MAE

Alternate Symbol(s): MRTMF

Metals & Mining Gold

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%).

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Maritime Resources Corp

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Post by nozzpackon Dec 02, 2024 2:47am

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Post# 36340086

Good Proxy for Going Price of Gold in the ground

Northern to acquire DeGrey for $4.6 Billion cad

Hemi deposit has 13,6 million ounces at 1.4 grams per ton and 6 million ounces in Reserves at 1.5 grams per ton .

November 2024 MRE, Hemi have 0.8 Moz measured, 7.2 Moz indicated, 5.5 Moz inferred.

That's about ...

...$750 CAD per ounce for Reserves in situ

..$575 CAD for Measured and indicated

..$345 CAD for Measured , Indicated and Inferred

So, those 318,000 ounces of current Reserves..HD plus Stoger..are worth about $225 million cad in the ground....23 cents per FD share ..and realistically estimated 600,000 ounces in the updated FS ,..$450 million in the ground .....$0.46 per share

And we own our mills and all infrastructure with production soon resuming.

And just 5,5 cents per share !

Come on Garrett, we are embarrassingly undervalued..