Signal Gold Inc T.SGNL

Maritime Resources Announced Its FS

[DoumDiDoum]

Well, MAE's shareholders waited for it... and numbers are deceiving.  

Maritime Resources Reports Positive Feasibility Study for Hammerdown Gold Project with 48.1% IRR

If we compare with the PEA, the project is far less interresting: 

- Life of mine decreased from 9 to 5 years 

- Resource exploited decreased from 521K oz to 257k oz of gold 

- Annual production decrweased from 58K oz to 50k oz

- Initial capex increased from $60M to $75M

- Gold price base case increased from US$1500 to US$1750

 

So, unfortunately, that explains the sell off lately.  400M shares outstanding.  They need to build a financing package with this little and short live 50k oz/year project.  No sorry but this FS will not convince the market.  The company just put a "For Sale" sign IMO.

[SgtFriday]

Wasn't sure why you were talking about MAE on SGNL site, so I took a peak at your other chat. Looks like you guys have some gold (some better grades), but no mine. We have the mine, but not the greatest grades.We'll do better than MAE because we are mining. They will have a tougher time, unless they build a mine. There must be a way to collaborate, where there is a Win-Win scenario? Where

[DoumDiDoum]

SgtFriday, I know I post a lot of stuff on this board so maybe some of the "important" ones are diluted in this mass of information, but the regulars here know that I'm a devotee cheerleader of a merge between MAE and SGNL. MAE bought the Nugget Pond gold circuit from Rambler so their plan is to refurbish it and start producing gold.  Their CAPEX is quite small at $75M to get

[GrumpyInvestor]

Hi DDD, as I have written on the MAE board, I don't think the transaction you were suggesting made sense for SGNL shareholders. MAE has no money, and SGNL neither, so it can't "buy out" MAE. They have to give shares in return. I feel that the BEAST has a lot more growth potential and I don't want that dilution. What I would consider is a spin-off of our NFLD operations and

[DoumDiDoum]

Thanks for your opinion Grumpy.