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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 > Hope Brook Gold Mine tailings
View:
Post by nozzpack on Feb 03, 2024 8:33pm

Hope Brook Gold Mine tailings

Hope Brook Gold mine produced 775,000 ounces of gold over 10 years in the 1990s.

Big Ridge Mining is now earning 51% of the rejuvenated project which has over 1 million ounces in open pit deposit.
Big Ridge is a quality Junior with several other excellent projects outside NL.

That Hope Brook was mentioned in the New MAE corporate presentation piqued my interest.

By my calculations , the Hope Brook mill processed about 7.5 million tons of ore , so it's tailings pond would contain about 100,000 ounces of fines.

There is no mill now at Hope Brook , so except for a costly mill, the open pit mine project is a bit stranded .....except for the gold fines at the bottom of its tailings pond....see link.

So, just speculating, why wouldn't MAE and Big Ridge JV the recovery of that 100,000 ounces of gold fines...capital investment would be modest and helicopter transportation  costs of the fines to Pine Cove mill  even more modest ...just sayin


https://www.lycopodium.com/case-studies/hope-brook-gold-project/
Comment by nozzpack on Feb 04, 2024 5:55am
Let us not forget the patience, foresight , and parsimonious brilliance of MAE management for their acquisition of milling assets and associated infrastructure that now constitute their Hub and Spoke business model . As stated repeatedly , new gold deposits seeking production have two options.. 1...a costly and extended period of constructing new mills on site 2..toll milling of production ...more