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Bullboard - Stock Discussion Forum 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... see more

TSXV:MAE - Post Discussion

Maritime Resources Corp > Another Junior Gold Acquired..$300 per ounce
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Post by nozzpack on Dec 20, 2023 5:43am

Another Junior Gold Acquired..$300 per ounce

One of my investments.....DPM.....Dundee ....has just acquired Osino's long-life Twin Hills open-pit gold project in Africa.

Upfront buyout cost is $287 million with construction costs of $410 m US = $550 m in C$.

Total consideration is $837 million CAD.
Production is expected to begin in late 2026.

Twin Hils has 2.94 m ounces in its Measured and Indicated.

In other words, $300 cad per M&I ounce of gold in the ground.

MAE has nearly 700,000 ounces in its M & I .

At $300 cad per ounce, our M&I gold resources would be valued at about $200 m cad.

Anyone following recent gold acquisitions knows that prices paid per ounce is beginning to accelerate, consonant with the increasing POG and future price forecasts.

Unlike NL, Africa carries significant political risk .

And we already have two gold mills acquired for a pittance...

I still have my bids being filled by those , for whatever reason , are selling a certain 5 bagger.

You have my appreciative thanks..
Comment by Macpoor on Dec 20, 2023 6:12am
DPM dropped almost a buck early trading but finished up 31 cents . Dundee Corporation had 36 millions of DPM but sold entirely its position around $7,  I missed out DPM. The reason I didn't buy this one because , my biggest investment at DC.A and I thought if DPM share appreciates so does DC.A .  DPM moved to almost $10 and DC.A stayed above $1,00 
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