Maritime Resources Corp V.MAE

An example of a Junior Gold producer

[nozzpack]

There arnt many but I thought about Jaguar ( JAG circa $4.75 ..$350 million market cap ) which I have owned in the past and keep it on watch relative to exploration outcomes.

It produces 65,000 ounces per year at decent AISC and free cash flows to the balance sheet.
My kinda gal.

Maritine has the current resources for at least 50,000 ounces per year for 10 years, with a dozen or more highly prospective discoveries to boost both production and mine life during the 10 years of production from current gold resources ..and no costly capex for mills and no debt.

An excellent proxy for Maritime's future.

And who knows what that limitless mine life the world class Talc deposit might add....could be zilch or could be quite profitable 

GLTA

[nozzpack]

When I entered this stock months ago, my research expectations was at least a 5 bagger but reasonable expectations for a 10 bagger. The POG was then well below the current level. My cost base is about 4 cents and exercising my rights at 3.4 cents won't do that any harm. We have more diversified metal assets than Jaguar, although Jag is ahead of our production schedule , but we are in a more

[baystock1]

nozzpack, Cerrado (CERT) is another junior gold producer to compare with MAE. Its C$24 million market cap is identical to MAE's: https://stockhouse.com/news/press-releases/2024/08/29/cerrado-gold-announces-q2-financials-cashflow-and-operating-cost-performance-at >> Q2/24 Operating Highlights: -Q2/24 production of 16,255 Gold Equivalent Ounces ("GEO"). -Q2/24 Adjusted

[nozzpack]

Lots of worts but some positives. About $155 million cad in liabilities not including the $61.5 m US in streaming cost. No gold reserves, just M&I In high risk Argentina which is bankrupt . Cash flow negative. Asset sale will reduce the debt but signifucant liabilities remain Suspicious CTO. Is producing and has milling assets which is positive. If you own , you might stay aboard with

[baystock1]

thanks nozzpack for sharing your quick thoughts. Yeah I am in it and am hoping for a double to bail me out of my losses. I know you were positive on Lion One (LIO) a few months back. It looks like you are no longer in it, did you change your mind about it being a good buy ?

[nozzpack]

LIO...that very cheap financing so soon after the earlier one at $0.50 left a very bad taste in my mouth ..still keeping it on watch to see when they might begin to mine Zone 5....