Maritime Resources Corp V.MAE

Not quite finished yet. Sorry.

[shiftyone]

Last November the CEO stated that it costs about $175 a meter to drill.  Including all costs.  Something like that.

So $3000 meters is a half million of the 8 million spent on drilling and exploration.  A feasibility study should be less than a  million.  No indication of how much is needed to upgrade the mill.

So we have 1.5 million on the drilling and FS.  Suggest another million to upgrade the mill.  So 3.5 million.

The news release was funny.  It stated that the rest would be used for corporate expenses if there was any money left.  I sure have not seen that before.\\

So half the money to pay management, and half so that they can tell us next year that production is coming soon.  If they can raise enough money to pay of the notes and keep operating.  This company is going nowhere.

3.4 cents with warrants.  joke.

[shiftyone]

Correction.   Not 1.5 million spent on drilling. $500 000 spent on drilling.   No other exploration mentioned. I guessing a million, so we will use 2 million, to upgrade the mill. $800 000 for a FS. So that is 3.3 million of the 8 million used for advancing the company. The rest will go to administration if there is any left. This is not going to get us anywhere

[shiftyone]

But, they have been working on the new FS for quite a long time I believe.  So that $ 800 000 cost is probably only half of that.  So let's say $400 000. A million to upgrade the mill.\\ $500 000 on drilling. That adds up to about $2 million. The other $6 million for corporate expenses?  The news release does not look at all professional when they include this in it.