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Maritime Resources
(MAE)
Maritime Resources (MAE) vs. S&P 500 (SPY)
Maritime Resources Business Overview & Revenue Model
Maritime Resources Financial Statement Overview
| Breakdown | |||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | Gross Profit |
| -270.65K | -170.17K | -171.28K | -82.61K | -27.05K | -63.98K | EBIT |
| -4.80M | -2.20M | -1.92M | -1.61M | -1.30M | -1.01M | EBITDA |
| -4.85M | -2.31M | -1.50M | -1.53M | -1.27M | -945.88K | Net Income Common Stockholders |
| -6.93M | -2.54M | -1.79M | -1.62M | -1.30M | -2.01M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 4.70M | 1.06M | 2.50M | 4.34M | 6.42M | 1.83M | Total Assets |
| 56.85M | 52.93M | 39.91M | 38.09M | 26.16M | 14.08M | Total Debt |
| 6.89M | 5.64M | 389.86K | 417.65K | 43.15K | 10.36K | Net Debt |
| 2.20M | 4.59M | -2.11M | -3.92M | -6.38M | -1.82M | Total Liabilities |
| 14.30M | 13.95M | 2.03M | 2.18M | 1.26M | 511.03K | Stockholders Equity |
| 42.55M | 38.97M | 37.88M | 35.91M | 24.89M | 13.57M |
| Cash Flow | Free Cash Flow | ||||
| -4.97M | -2.30M | -7.06M | -4.70M | -1.51M | -2.31M | Operating Cash Flow |
| -3.95M | -2.30M | -1.86M | -1.87M | -1.50M | -2.28M | Investing Cash Flow |
| -1.96M | -6.46M | -3.33M | -12.36M | -6.63M | -3.81M | Financing Cash Flow |
| 9.74M | 7.12M | 3.56M | 12.15M | 12.72M | 5.56M |
Maritime Resources Technical Analysis
Maritime Resources Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
50 Neutral | $1.98B | -1.08 | -21.29% | 3.61% | 1.96% | -30.59% | |
48 Neutral | C$122.34M | ― | -17.00% | ― | ― | -118.75% | |
45 Neutral | C$111.10M | ― | -6.85% | ― | ― | ― | |
44 Neutral | C$85.72M | ― | -7.36% | ― | ― | -1036.36% | |
42 Neutral | C$110.72M | ― | -4.14% | ― | ― | 50.00% | |
39 Underperform | C$98.01M | ― | -41.70% | ― | ― | 32.34% | |
32 Underperform | C$90.96M | ― | -193.55% | ― | ― | -205.11% |
Maritime Resources Corporate Events
Maritime Resources Corp. announced the final results of its grade control drill program at the Hammerdown Gold Project, highlighting significant gold mineralization in the Rumbullion zone. The results, including high-grade gold intersections, demonstrate the potential for additional recoveries from historically mined areas, enhancing early-stage production plans and marking a critical de-risking step for the project’s development.
Spark’s Take on TSE:MAE Stock
According to Spark, TipRanks’ AI Analyst, TSE:MAE is a Neutral.
Maritime Resources faces substantial financial challenges, primarily due to its lack of revenue and negative cash flows, which are major concerns. However, positive technical indicators and recent corporate developments, such as significant gold discoveries and successful funding, suggest potential for future growth. Despite these positive signs, the current valuation remains a concern due to negative earnings, resulting in a moderate overall score.
To see Spark’s full report on TSE:MAE stock, click here.
Maritime Resources Corp. has announced the final results from its grade control drill program at the Hammerdown Gold Project, revealing significant gold mineralization in the Rumbullion zone. The results include high-grade gold intersections, which indicate potential for enhanced early-stage production plans and further development opportunities in historically mined areas. This successful completion of the drill program marks an important step in de-risking the project and supports future mine planning efforts.
Spark’s Take on TSE:MAE Stock
According to Spark, TipRanks’ AI Analyst, TSE:MAE is a Neutral.
Maritime Resources faces substantial financial challenges, primarily due to its lack of revenue and negative cash flows, which are major concerns. However, positive technical indicators and recent corporate developments, such as significant gold discoveries and successful funding, suggest potential for future growth. Despite these positive signs, the current valuation remains a concern due to negative earnings, resulting in a moderate overall score.
To see Spark’s full report on TSE:MAE stock, click here.
Maritime Resources Corp. has announced promising results from its grade control drill program at the Hammerdown Gold Project, revealing significant gold mineralization. The program has confirmed the vein model and identified additional mineralization, enhancing confidence in the project’s potential and supporting future mining operations.
Spark’s Take on TSE:MAE Stock
According to Spark, TipRanks’ AI Analyst, TSE:MAE is a Underperform.
The overall score for TSE:MAE reflects significant financial difficulties, including no revenue and negative cash flows. However, technical indicators show positive momentum, suggesting investor interest. Although recent corporate events show promise, the current valuation remains a concern due to negative earnings.
To see Spark’s full report on TSE:MAE stock, click here.
Maritime Resources Corp. has successfully closed a $20 million brokered private placement financing, led by Paradigm Capital Inc. and SCP Resource Finance LP. The offering involved the issuance of 266,700,000 units at $0.075 per unit, with each unit comprising one common share and half a common share purchase warrant. Notable investors included Eric Sprott and Dundee Corporation. The proceeds will be used for exploration, development, and general working capital. The transaction also involved related party participation, constituting a related party transaction under Multilateral Instrument 61-101, but exemptions were relied upon due to the offering’s market capitalization impact.
Spark’s Take on TSE:MAE Stock
According to Spark, TipRanks’ AI Analyst, TSE:MAE is a Neutral.
The overall score reflects the early-stage nature of Maritime Resources, with financial challenges from lack of revenue and negative cash flow. However, the technical indicators and promising drill results offer positive momentum and potential future growth, balancing the financial risks. The valuation remains a concern due to negative earnings.
To see Spark’s full report on TSE:MAE stock, click here.
Maritime Resources has issued 2,573,090 common shares to satisfy interest payment obligations on US$5,000,000 non-convertible senior secured notes. This issuance, including 514,618 shares to Dundee Corporation, is considered a related party transaction and is subject to TSX Venture Exchange approval. The company utilized exemptions from formal valuation and minority shareholder approval requirements under MI 61-101, as the transaction did not exceed 25% of its market capitalization.
Maritime Resources has announced its decision to issue up to 3,593,750 common shares to satisfy interest payment obligations on its US$5,000,000 non-convertible senior secured notes. This move, subject to TSX Venture Exchange approval, involves a related party transaction with Dundee Resources Limited, but falls within exemptions from formal valuation and minority shareholder approval requirements. This strategic decision reflects Maritime’s approach to managing its financial obligations while maintaining its focus on gold exploration and development in a top-tier mining jurisdiction.
Maritime Resources Corp. has announced an increase in its previously planned private placement offering to $20 million, with Paradigm Capital Inc. as the lead agent. This upsize involves the issuance of up to 266,700,000 units at $0.075 per unit, with significant investments from Eric Sprott and Dundee Corporation. The proceeds will be used for exploration, development, and general working capital, with the offering expected to close on April 9, 2025, subject to regulatory approvals.
Maritime Resources Corp. has announced a private placement financing agreement with Paradigm Capital Inc. to raise up to $15 million through the issuance of 200,000,000 units, each consisting of one common share and one-half of a warrant. The funds raised will be used for exploration, development, and general working capital purposes. Notable investors include Eric Sprott and Dundee Corporation, contributing significant portions of the financing. The offering will be conducted in Canada and the United States, subject to regulatory approvals and customary closing conditions, with an expected closing date of April 9, 2025.
Maritime Resources Corp. announced significant drill results from its Hammerdown Gold Project, highlighting high-grade gold intersections that enhance the project’s resource model. The results indicate the presence of additional mineralization between high-grade veins and within historic backfilled stopes, boosting confidence in the project’s potential and supporting further exploration efforts.
Maritime Resources Corp. has completed the sale of its Lac Pelletier gold project to Emperor Metals Inc., receiving 12.5 million common shares of Emperor, which represents approximately 10.8% of Emperor’s issued and outstanding shares. This transaction allows Maritime to focus on its high-grade Hammerdown Gold Project in Newfoundland and Labrador, while gaining a strategic position in Emperor Metals, enhancing its presence in the Abitibi gold exploration sector.
Maritime Resources Corp. announced significant drill results from its Hammerdown Gold Project, highlighting high-grade gold mineralization. The results, including 12.0 gpt gold over 28.0 meters, confirm the exceptional quality and continuity of the deposit, enhancing the project’s potential value and supporting the geological models for the proposed open-pit mining.
Maritime Resources Corp. has successfully commenced mineral processing operations at its Pine Cove Mill, part of the Point Rousse Gold Project. This marks a significant milestone as it is the only operating gold processing facility in Newfoundland and Labrador. The company has completed necessary repairs and upgrades to the plant, recruited local personnel, and processed over 50,000 tonnes of mineralized stockpile material. This development sets the stage for a low-cost startup of the Hammerdown Gold Project, highlighting Maritime’s strategic progress in the region.
Maritime Resources Corp. announced its participation in the upcoming PDAC 2025 conference and Canada’s Atlantic Edge event, where it aims to engage with investors and stakeholders. This participation underscores Maritime’s commitment to strengthening its industry presence and fostering investor relations, potentially impacting its market positioning and stakeholder engagement.
Maritime Resources Corp. has announced promising drill results from its Hammerdown Gold Project, indicating high-grade gold deposits in the area. The findings, part of a grade control drill program, are expected to enhance the company’s understanding of the mineralization and boost its open-pit mining strategy, potentially benefiting stakeholders by optimizing resource extraction.