Maritime Resources Corp V.MAE

Interesting..MAE allocates Space for Shoreline Expansion

[nozzpack]

Maritime acquired the Point Rousse assets, including the Pine Cove processing plant and access to a deep water port.

Having a fully permitted mill and tailings facility reduces the Company's exposure to inflationary pressures on capital costs.

Maritime is in a unique position with strategically placed mining and processing infrastructure.

Water in the Pine Cove pit tailings storage facility has been safely discharged to the environment, resulting in a pit water elevation decrease of nearly 4 metres.

Shoreline Aggregates continues to mine and process waste rock, reducing long-term closure liabilities.


Maritime is working to amend its surface lease to allocate a portion of the area to Shoreline for expansion.

Maritime signed a memorandum of understanding with New Found Gold Corp. to explore toll milling at the Pine Cove mill.

Work is underway to update the feasibility study for the Hammerdown Gold Project, including two additional deposits to extend the project life.
Maritime continues to support the local communities and recently hosted a high school youth mining career fair.

 

[nozzpack]

The delay in issuance of Resumption of mining by Maritime has signifucance in my opinion and could be related to Shoreline and its rapidly growing operational JV with Maritime. Maritime is too busy to devote time and resources to reprocessing of gold fines from reclamation of the several tailings dumps and tailings ponds contiguous with the Pine Cove mill and Nugget Pond Mill. But, consider that

[MAKEITBACK]

Maritime is too busy to devote time and resources to reprocessing of gold fines from reclamation of the several tailings dumps and tailings ponds contiguous with the Pine Cove mill and Nugget Pond Mill. Too busy to start making us some money? I've said it before and I will say it again. Being a producer is the only thing that counts! I don't care what ore they process to get the gold

[Zibo510]

The NR from December 11 said crushing of stockpiles was underway and re-commishining of the mill was on track for a January start up, since we haven't heard otherwise I assume this is still the plan.  Contract crushing commenced by Guy J. Bailey Limited to stockpile product for the Pine Cove mill gold circuit prior to the winter freeze up. Crushed material will be used to re

[MAKEITBACK]

Thanks Zibo. If you are right it will be a giant leap forward. A 10 for1 stock split and this will be a viable producer!

[MAKEITBACK]

Correction---should read 1 for 10 stock split!

[nozzpack]

My comment was made in the context of preparing for resumption of mining and associated develoment operations which will take most of 2025. In fact, Maritime has hire Shoreline and its crews to reclaim TSF#1 Tailings Pond including recovered  gold tailings . Initial operations ceased in late January due to freeze up and will resume in April with normal melt. I estimate Approx 20,000 ounces

[shiftyone]

The main goal imo is to start mining Hammerdown.  And some of these side projects will help to make this possible more quickly. The new FS may say that it still costs $75 million to start HD up.  But if they have 20% of that, or $15 million, they should be able to borrow the rest at a reasonable rate.  None of this 20% interest loans that I seen other companies do. I'm not

[nozzpack]

That should be late December. There should be no doubt about the outcome of the FS. The 2022 had an IRR of about 55% at $1750 POG including, by recall, about $40 millin or so to upgrade the Nuggett Pond mill and acquire and operate a high tech X Ray ore separator . That will not be the case for the updated FS due to acquiring the much closer Pine Cove mill which eliminates $30 million for the