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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 shiftyoneon Jan 13, 2025 6:57pm
77 Views
Post# 36402294

RE:RE:RE:Interesting..MAE allocates Space for Shoreline Expansion

RE:RE:RE:Interesting..MAE allocates Space for Shoreline ExpansionThe main goal imo is to start mining Hammerdown.  And some of these side projects will help to make this possible more quickly.

The new FS may say that it still costs $75 million to start HD up.  But if they have 20% of that, or $15 million, they should be able to borrow the rest at a reasonable rate.  None of this 20% interest loans that I seen other companies do.

I'm not sure what the last post means when it states that Shoreline operations ceased in late January.  It is not late January yet.

I think the next year should have lots of new developments.

Thank you Nozz for your insights as to what some of the possibilities may be.

Hammerdown will be our big game changer.  Hopefully the new FS allows them to make the decision to go ahead with that.  Until then we are still clinging to hope.
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