In case you don't know, the current market values explorers only about 1/3 of that of producers .
An excellent example is NFG.
Even with outstanding exploration results, its share price has not changed since 2021 and remains 60% lower than its highs in 2021.
The reason is the costs to build a mine.
Those costs have exploded since 2020.
Marathon is the best example of this as it was bought out at 80 cents relative to its pre mine development price of over $4.....and still trying to finish its mine which will cost over $1 billion
So, Maritine was very forward thinking in buying two mills plus two mines , long term tailings facilitues , a part owner in Aggregate business and a Deep Water port for less than net $10 million plus modest equity.
Current replacement value would be well over $300 million.
Management knows that we are still valued as a penny explorer and that being a producer offers not only cash flows but a much higher valuation
As you should know , management have found about 4000 ounces or so in existing stockpiles that the are evaluating to restart of the mill to process and set the stage for Hammerdown's development.
With gold prices over $2,400 (U.S.) and all major permitting completed, Maritime is one of the few near-term cash flow opportunities in the current market.
It will get lots of attention .
Further, to build a mine at QWN , it will cost NFG over $1 billion and perhaphs 6-7 years to build that mine.
Direct shipping of that ore to the Pine Cove mill not only elevates NFG to producer status but also provides cash flows to build that mine.
A double price escalation for NFG shareholders of which I am a signifucant one.
We have them by the short and curlies.
AIMHO
GLTA