Welcome to our dedicated page for Maritime Resorcs news (Ticker: MRTMF), a resource for investors and traders seeking the latest updates and insights on Maritime Resorcs stock.
Maritime Resources Corp. (MRTMF) delivers gold exploration updates and operational developments from Canada's premier mining regions. This dedicated news hub provides investors with timely access to official announcements, project milestones, and strategic initiatives from the company advancing high-grade assets like the Hammerdown Gold Project and Pine Cove processing facility.
Discover comprehensive coverage of corporate developments including drilling results, resource estimates, facility upgrades, and partnership announcements. The curated collection serves as a reliable source for tracking exploration progress in Newfoundland and Labrador, metallurgical testing outcomes, and operational optimizations at permitted processing plants.
Key updates span permit approvals, technical report publications, mineral resource expansions, and strategic asset acquisitions. Content maintains strict adherence to factual reporting standards while providing context about the company's gold recovery processes and exploration methodology.
Bookmark this page for streamlined access to Maritime Resources' latest financial disclosures, environmental stewardship initiatives, and leadership updates. Monitor progress across multiple exploration properties and processing infrastructure developments through verified news sources and original corporate communications.
Maritime Resources Corp. (TSXV: MAE) (OTC Pink: MRTMF) has announced positive results from an ongoing metallurgical test program for its Hammerdown Gold Project in Newfoundland and Labrador. The program, designed to confirm and optimize gold recovery data through the company's Pine Cove mill, has shown impressive results:
- 98.0% gold recovery through the flotation process
- 98.1% gold recovery through optimized gold leach extractions of the reground concentrate
- 96.1% overall gold recovery prior to the Merrill Crowe process
The test work was conducted on a composite sample with an average grade of 4.0 gpt Au. With gold prices over US$2,400 and all major permitting completed, Maritime is evaluating a restart of the Pine Cove mill to process existing stockpiles and prepare for Hammerdown's development.
Maritime Resources Corp. (TSXV: MAE, OTC Pink: MRTMF) has announced an upcoming vote at its annual general and special meeting on August 8, 2024, seeking shareholder approval for a potential consolidation of its common shares.
The proposed consolidation would be on a basis of up to ten pre-consolidation shares for one post-consolidation share. The current number of issued and outstanding common shares is 595,716,319, which would be reduced to approximately 59,571,631 if the consolidation proceeds at the maximum ratio.
This consolidation aims to optimize the company's capital structure and broaden its investor base. The shares would continue trading under the symbol 'MAE' on the TSX Venture Exchange. The consolidation is pending approval from shareholders and the TSX Venture Exchange.
Further details are available in the company's management information circular dated July 10, 2024, on SEDAR+.
Maritime Resources Corp. (TSXV: MAE) (OTC Pink: MRTMF) announced the grant of 5,450,000 stock options to its employees, consultants, directors, and officers. This decision follows the Company's annual compensation review and adheres to the Stock Option Plan approved by shareholders on November 30, 2023. The plan permits issuing options up to 10% of the Company's rolling issued and outstanding common shares. Currently, the total outstanding options represent approximately 3.5% of the issued shares. The options have an exercise price of $0.06 and are exercisable for five years. Concurrently, 3,250,000 options expired on June 18, 2024.
Maritime Resources Corp. (TSXV: MAE, OTC Pink: MRTMF) has provided updates on its Hammerdown Gold Project and activities at the Pine Cove mill, located in Newfoundland and Labrador. Key developments include engineering optimization for the Pine Cove mill, completion of gold cleanup, and major project permitting. Auramet International has been appointed as the project financing advisor. Maritime has identified approximately 85,000-115,000 tonnes of stockpiled material at Point Rousse, grading about 1.1 grams per tonne gold. The Hammerdown Project boasts proven and probable reserves of 272,000 ounces of gold at 4.46 grams per tonne. The 2022 Technical Report indicates after-tax NPV of $215 million with an IRR of 91% at a gold price of $2,300/oz. Inspections and sampling are ongoing to confirm metallurgical recoveries and optimize milling operations.
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