Maritime Resources (TSXV:MAE)

Maritime Resources: A Low-risk Path to Gold Production in One of the World’s Top Mining Jurisdictions

Maritime Resources (TSXV:MAE) is a Canadian gold development company advancing the fully permitted, high-grade Hammerdown project in Newfoundland & Labrador’s prolific Baie Verte mining district. A past-producing asset, Hammerdown is shovel-ready and de-risked, with construction underway and first ore deliveries to the Pine Cove Mill anticipated between late summer and early fall 2025.

Hammerdown is uniquely positioned to capitalize on existing infrastructure, with close access to paved roads, power, ports, and Maritime’s wholly owned Pine Cove processing facility. Unlike many greenfield developers, Maritime is pursuing a low-capex, staged production strategy—leveraging its established infrastructure and skilled local workforce to reduce costs, mitigate risk, and fast-track value creation through near-term cash flow generation amid record-high gold prices.

Expansive landscape of Maritime Resources' Hammerdown project.Hammerdown project site

Looking ahead, Maritime Resources aims to establish a 100,000 oz/year production platform by integrating nearby deposits—including Orion, Stoger Tight, and Deer Cove—and reactivating its 700 tpd Nugget Pond gold plant. The company’s extensive regional land package spans over 435 sq km of highly prospective terrain, with strong potential for gold, VMS, and porphyry-style mineralization.

Company Highlights

  • Near-term Gold Production: First production targeted for H2/2025 from the fully permitted Hammerdown open pit project.
  • High-grade Gold Reserves: 1.9 Mt at 4.46 g/t gold (272 koz) proven and probable reserves support initial 35,000-45,000 oz/year production.
  • Low-CAPEX Startup: Initial capital estimated at C$15 to $20 million, among the lowest in the sector for a new mine, leveraging Maritime’s fully operational Pine Cove mill
  • Owned Processing Infrastructure: Pine Cove Mill (1,300 tpd, operational) and the Nugget Pond gold plant (700 tpd CIP circuit, on standby).
  • Exploration Upside: 435 sq km land package includes multiple brownfield and greenfield targets proximal to infrastructure.
  • Institutional Backing: Strong support from Dundee Corporation, Eric Sprott and other institutions.
  • Fully Funded: recently closed $20 million hard dollar financing and $10 million private placement (live) to fund mine startup and repay the existing US$5 million note.
  • Local Workforce Advantage: Fully staffed Pine Cove Mill with 100 percent local residents

This Maritime Resources profile is part of a paid investor education campaign.*

Click here to connect with Maritime Resources (TSXV:MAE) to receive an Investor Presentation

MAE:CC
Maritime Resources

Maritime Resources Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Maritime Resources (TSXV:MAE)

Maritime Resources

Keep reading...Show less

A low-risk path to gold production in one of the world’s top mining jurisdictions

Maritime Announces Repayment of Senior Secured Notes Due August 14, 2025

Maritime Announces Repayment of Senior Secured Notes Due August 14, 2025

Maritime Resources Corp. (TSXV: MAE,OTC:MRTMD) ("Maritime" or the "Company") is pleased to announce the full cash repayment of the US$5 million principal amount owed under its non-convertible senior secured notes due on August 14, 2025 (the "Notes"), along with accrued and unpaid interest for the month of July 2025. In order to repay the Notes, the Company used the proceeds from its recently completed brokered "best efforts" private placement offering of common shares in the capital of the Company, as announced on July 17, 2025. Payment for the Notes was processed today through Computershare Trust Company of Canada.

Garett Macdonald, Chief Executive Officer of Maritime, commented: "We would like to take this opportunity to thank each of the noteholders for their support of the acquisition of the Point Rousse Project which included the Pine Cove Mill in August 2023 through the senior secured note facility. The Company is once again debt-free with the full repayment of the Notes."

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Maritime Commences Construction at Hammerdown, Adds to Technical Team

Maritime Commences Construction at Hammerdown, Adds to Technical Team

Maritime Resources Corp. (TSXV: MAE,OTC:MRTMD) ("Maritime" or the "Company") is pleased to provide an update for the Hammerdown Gold Project, located in the Baie Verte mining district of Newfoundland and Labrador ("Hammerdown"), near the towns of King's Point and Springdale, including its Pine Cove milling facility located near the towns of Baie Verte and Ming's Bight.

Highlights:

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Maritime Resources Announces Closing of $11.5 Million Brokered Private Placement Financing

Maritime Resources Announces Closing of $11.5 Million Brokered Private Placement Financing

Maritime Resources Corp. (TSXV: MAE,OTC:MRTMD) ("Maritime" or the "Company") is pleased to announce the closing of its previously announced brokered "best efforts" private placement offering (the "Offering") of common shares in the capital of the Company ("Offered Securities") for aggregate gross proceeds of approximately $11,500,490. The Offering was led by Paradigm Capital Inc. ("Paradigm"), as lead agent and sole bookrunner, on a "best efforts" agency basis, together with SCP Resource Finance LP (together with Paradigm, the "Agents"), pursuant to the terms of an agency agreement among the Company and the Agents dated as of July 17, 2025 (the "Closing Date").

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Maritime Resources Announces an up to $10 Million Best Efforts Private Placement Financing

Maritime Resources Announces an up to $10 Million Best Efforts Private Placement Financing

Maritime Resources Corp. (TSXV: MAE) ("Maritime" or the "Company") is pleased to announce that it has entered into an agreement with Paradigm Capital Inc. ("Paradigm") as lead agent and sole bookrunner, for and on behalf of a syndicate of agents (collectively, the "Agents"), in connection with a proposed best efforts private placement offering (the "Offering") of up to 8,850,000 common shares in the capital of Maritime (the "Offered Securities") to be issued at $1.13 per Offered Security (the "Issue Price") for gross proceeds of up to $10,000,500.

The Company will also grant the Agents an option (the "Agents' Option") to sell up to an additional 1,327,500 Offered Securities at the Issue Price for additional gross proceeds of up to $1,500,075, exercisable in whole or in part by the Agents at any time 48 hours prior to the Closing Date (as defined herein).

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
john hathaway, gold bars

John Hathaway: Gold Price Can Double, This Factor Isn't Priced In

John Hathaway, managing partner at Sprott (TSX:SII,NYSE:SII) and senior portfolio manager at Sprott Asset Management USA, shares his outlook for gold, including how high it could go.

"In my opinion, the gold price could more than double," he said.

Keep reading...Show less
Stack of shiny gold coins featuring a buffalo design on a wooden surface.

Navigating Uncertainty: How Trump's Tariffs Are Affecting the Gold Market

The gold price has been on the rise in 2025 as a slew of factors work in its favor.

Central bank buying has long been a key point of support, as has escalating conflict in the Middle East and elsewhere. A newer addition is tariff tensions as the Trump administration fleshes out trade policies.

The gold price has benefited from safe-haven demand amid the turmoil, but concerns that the yellow metal itself might face tariffs have also impacted the sector as industry insiders react to uncertainty.

Keep reading...Show less
Three gold bars on price chart with magnifying glass.

What Was the Highest Price for Gold?

Gold has long been considered a store of wealth, and the price of gold often makes its biggest gains during turbulent times as investors look for cover in this safe-haven asset.

The 21st century has so far been heavily marked by episodes of economic and sociopolitical upheaval. Uncertainty has pushed the precious metal to record highs as market participants seek its perceived security.

And each time the gold price rises, there are calls for even higher record-breaking levels.

Keep reading...Show less
Vertex Minerals Executive Chairman Roger Jackson

Vertex Minerals Exec Touts High-grade Gold at Reward Mine

Vertex Minerals (ASX:VTX) is banking on its high-grade gold resource at the Reward mine to take the company to profitability, generate cashflow and fund drill programs as it begins production at the underground mine.

Executive Chairman Roger Jackson spoke with the Investing News Network about the company’s strategic position as it starts gold production. Vertex has begun developing the first two stope blocks at its Reward mine, which Jackson described as the highest-grade gold mine in Australia.

“I'd be surprised if we're not the highest-grade gold mine in Australia, given we're at around 17 grams,” Jackson said.

Keep reading...Show less
Burlap sack with Australian money spilling onto a wooden surface.

Auric Mining to Expand Portfolio with Strategic Mill Acquisition

Auric Mining (ASX:AWJ) is accelerating its push to become a fully integrated gold producer.

On Monday (August 25), the company locked in a AU$4.4 million purchase of the Burbanks mill, located 15 kilometres south of Coolgardie and near its Munda gold project. Idle since 2019, the facility comes equipped with crushing, grinding and carbon-in-leach infrastructure, giving Auric a clear path toward in-house processing.

“A major missing piece for us has always been a mill … We are delighted to now be on a clear path to purchasing this facility, which we expect to be an important piece of our longer-term future,” said Managing Director Mark English.

Keep reading...Show less
Maritime Resources

Maritime Resources Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×