Maritime Resources Corp V.MAE

Purposeful Delay in Share Consolidation ?

[nozzpack]

I can see no reason for such a delay as it's benefits are obvious.
It is approved, so why wait ?

A takeover would be a straight up deal either for cash or more likely equity based.

That leaves acquiring another Junior with specific benefits that advance the integrated value of the new entity.

I have previously mentioned Big Ridge as an obvious eventual acquisition .

However,....again previously mentioned in my posts...LAB stands out for its multiple benefits to three large holders,....NFG, Sprott and PALI.

Plus Sprott and Pali own whacks of NFG.

LAB has been knee capped at 8 cents for quite a while by persistent selling.

Yet, it owns 5.3 million NFG shares plus $6 m in cash ...a total cash and cash equivalent  value of about $25 million at current NFG share price.

Here is my contingent rationale for Maritime acquiring LAB.

Maritime acquires LAB and announces that the tolling agreement with  NFG has been finalized.

Such an announcement would double the share price of NFG , with huge benefits to Sprott and PALI.

Being substantial owners of LAB, all three...Sprott, PALI and NFG .. become significant shareholders of Maritime which is a double benefit for those three large LAB holders.

Maritime , as the NFG share price appreciates to $7, secures over $40 million in cash and cash equivalent NFG shares.

Maritime then announced its share Consolidation.

As there will be a redundant TSX listing ..that of LAB..spin out the tolling MOU to NewCo along with the 
Nuggett Pond mill and a cheap buyout of Signals Tilt Cove project .

In this process, Maritime bulks up its balance sheet and share price, eliminating all capex needs for mining of HD while enabling the exercise of nearly $8 million in warrants .

It is then ready to merge with Firefly,  creating a Senior level diversified mining company which forms the Core of Maritime's Hub and Spoke business model.

Big Ridge and its 1.5 million ounces is then acquired , giving the Pine Cove mill a 25 year gold production feed source of 100,000 ounces per year.

We will make a huge fortune in the process.

Makes great economic sense .

What impresses me is that we are now almost chewing through 0.5 cents per day on very light volumes of less than 1 million shares per day.

This, in the absence of any of many possible development  announcements .

It shows that the intrinsic value of Maritime is finally being recognized by the market and more importantly by Maritime shareholders.

By that I mean , a maturing retail base that are beginning to understand and consider the value of holding rather than flipping.

That is quite a significant transformation ..

AIMHO
GLTA

[colt45acp]

dO YOU THINK THEY WILL OR WILL NOT NEWS RELEASE the R/S DATE.?

[NineLives]

With all due respect I don't think MAE should go anywhere near LAB. Management over there are in it for themselves and would be quite hard to push out. Especially they now have an endless trough by selling NFG shares when they wish to raise their salaries. Stay away. MAE doesn't need those kind of negative synenergies, all MAE has to do is one thing, concentrate on getting Hammerdown into

[Zibo510]

I agree, get the mill going, start processing the tailings, put everything else on hold and throw all efforts at Hammerdown immediately, process tailings @ 1g/t and have high grade 4.5 g/t Hammerdown ore in the pipeline ASAP, then production cash flow will be available for FS, drill campaign etc. 

[shiftyone]

Won't they need the new FS before they can raise the funds for HD?

[NineLives]

Shiftyone, that was started exactly a year ago, apologise as I thought it was completed. It should have been by now ? Yes ? Nozzpack, regarding LAB that's way too many irons in the fire, sure they have shares in NFG and cash but is it really worth swallowing nearly 180 million shares for what $30 million. Even ES let warrants expire in effect reducing his percentage ownership. Sure they have

[NineLives]

I see below Nozzpack has answered the FS question, all good.

[shiftyone]

I'm not so sure about the FS question being answered. The last financing, part of the monies were supposed to be used for a new FS for early in 2025. I don't know that you can go to a lender with a FS that says we need $75 million, but tell them without a new study that you only need $50 million.  They will wonder what there is to back that up.  And worry that the $50 million

[NineLives]

All I did was read the press release dated October 11th 2023 where they state work has already begun to update the FS for Hammerdown Gold project to include the mill. Surely a year later it was completed ?  I hope so  ! This is not something little to let slip and be forgotten. Didn't go through all the last 12 month NR's to see, just don't have time. Will read it if someone

[shiftyone]

ninelives,  just read the one where they announce the closing of the rights offering around Sept 11,2024

[nozzpack]

The updated FS will include and integrate contributions from Orion , the several new discoveries around the HD deposit plus Stoger . These will form what I call the back 5 years of a 10 year LOM. HD deposit is the front 5 years . It is  fully permitted and already have a  FS . Test mining beginning in mid summer of 2025 will progressively bootstrap its update . This will be self

[nozzpack]

That is the plan as stated in the new CP. There is no need of a new FS for the HD mine. We have already a FS whose capex is now considerably reduced by direct shipping ore to our fully updated Pine Cove mill....waste ore will go to Shoreline and any residual gold in the waste ore will bel recovered by the gravity circuit now about to be completed on Shorelines wash plant. So, mining of HD

[nozzpack]

Management of LAB have no voting control of the shares. They do not have the voting power to decide anything . And, they have been very conservative in their budgetary expenditures as purely housekeeping.