Maritime Resources (MAE) AI Stock Analysis

• Market Cap: C$62.94M
• Dividend Yield: N/A
• Average Volume (3M): 402.55K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.08
• Revenue Growth: N/A
• EPS Growth: -111.36%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 62
• Industry: Mining
• EPS (TTM): >-0.01
• Shares Outstanding: 839,232,500
• 10 Day Avg. Volume: 181,056
• 30 Day Avg. Volume: 402,553
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• Price to Cash Flow (P/CF): 49.10
• P/FCF Ratio: 21.70
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0

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.

Maritime Resources Business Overview & Revenue Model

Company Description

Maritime Resources (MAE) is a Canadian-based exploration and development company focused on gold mining. The company operates in the natural resources sector, primarily engaged in the acquisition, exploration, and development of mineral properties. Its core assets include the Hammerdown Gold Project, located in Newfoundland and Labrador, Canada, which is a historic high-grade past-producing mine with potential for near-term production.

How the Company Makes Money

Maritime Resources makes money through the exploration and development of its mineral properties, with a primary focus on gold. The company's revenue model involves advancing its projects towards production, which includes conducting feasibility studies, securing necessary permits, and developing mining operations. Once operational, the company generates revenue from the sale of extracted gold and other precious metals. Significant partnerships with other mining companies, investors, and stakeholders can provide additional funding and resources to support the development of its projects, contributing to its earnings potential.

Maritime Resources Financial Statement Overview

Summary

Maritime Resources is in the early stages typical for mining companies, with zero revenue leading to negative margins and high operational costs. The balance sheet is moderately strong with a reasonable equity ratio but indicates reliance on external debt. Negative cash flows underscore financial constraints and the need for revenue generation.

Income Statement

Maritime Resources has consistently reported zero revenue, which is typical for many mining companies still in exploration or development phases. The lack of revenue results in negative margins, with a significant net loss indicating high operational and exploration expenses outweighing any revenues. The absence of revenue growth highlights the early stage or challenges in production ramp-up.

Balance Sheet

The company's balance sheet shows a reasonable level of stockholders' equity relative to total assets, indicating a strong equity ratio. However, the presence of debt, albeit manageable relative to equity, suggests reliance on external financing. This can pose risks if not managed properly, especially for a company without current operational revenues.

Cash Flow

Maritime Resources exhibits negative free and operating cash flow, signifying cash outflows exceeding inflows, which could be typical for development-stage mining companies. The negative free cash flow growth indicates an increase in capital expenditures and operational costs, necessitating financing cash inflows to sustain operations.

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
-268.23K	-170.17K	-171.28K	-82.61K	-27.05K	-63.98K
	EBIT
-3.87M	-2.20M	-1.92M	-1.61M	-1.30M	-1.01M
	EBITDA
-3.52M	-2.31M	-1.50M	-1.53M	-1.27M	-945.88K
	Net Income Common Stockholders
-5.59M	-2.54M	-1.79M	-1.62M	-1.30M	-2.01M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
2.36M	1.06M	2.50M	4.34M	6.42M	1.83M
	Total Assets
10.19M	52.93M	39.91M	38.09M	26.16M	14.08M
	Total Debt
0.00	5.64M	389.86K	417.65K	43.15K	10.36K
	Net Debt
-2.36M	4.59M	-2.11M	-3.92M	-6.38M	-1.82M
	Total Liabilities
250.18K	13.95M	2.03M	2.18M	1.26M	511.03K
	Stockholders Equity
9.94M	38.97M	37.88M	35.91M	24.89M	13.57M
Cash Flow		Free Cash Flow
-5.06M	-2.30M	-7.06M	-4.70M	-1.51M	-2.31M
	Operating Cash Flow
-4.25M	-2.30M	-1.86M	-1.87M	-1.50M	-2.28M
	Investing Cash Flow
-1.42M	-6.46M	-3.33M	-12.36M	-6.63M	-3.81M
	Financing Cash Flow
9.86M	7.12M	3.56M	12.15M	12.72M	5.56M

Maritime Resources Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.08
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:MAE, the sentiment is Positive. The current price of 0.08 is below the 20-day moving average (MA) of 0.08, above the 50-day MA of 0.08, and above the 200-day MA of 0.06, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 62.91 is Neutral, neither overbought nor oversold. The STOCH value of 100.00 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:MAE.

Maritime Resources Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
AEM	80 Outperform	$72.92B	27.91	9.42%	1.59%	26.99%	-6.63%
KNT	75 Outperform	C$2.43B	23.27	20.56%	―	64.92%	185.22%
MAE	56 Neutral	C$62.94M	―	-13.30%	―	―	-111.36%
Sector *	47 Neutral	$2.64B	-3.82	-29.05%	3.32%	2.72%	-29.50%
NRN	37 Underperform	C$3.20M	―	-87.04%	―	―	-270.64%
BTR	31 Underperform	C$36.72M	―	-91.29%	―	―	7.15%

Maritime Resources Corporate Events

Maritime Resources Announces Promising Drill Results from Hammerdown Project

Maritime Resources Corp. has announced promising initial drill results from its Hammerdown Gold Project, indicating high-grade gold mineralization. The results, which include significant gold grades over several metres, suggest the potential for quick cash flow generation as the company progresses towards developing the open pit project. The ongoing grade control drill program is a key step in de-risking the project and preparing for mining operations, with further potential for resource expansion identified in the mineralized zones.

Maritime Resources Sells Lac Pelletier Project to Emperor Metals

Maritime Resources Corp. has announced the sale of its Lac Pelletier gold project to Emperor Metals Inc., marking a strategic move to divest non-core assets and focus on core projects in Newfoundland and Labrador. This transaction, which involves Maritime receiving 12.5 million shares of Emperor, strengthens Emperor’s exploration capabilities in the Abitibi greenstone belt, highlighting Maritime’s shift towards being an investor while enhancing shareholder value.

Maritime Resources Advances Pine Cove Mill Restart

Maritime Resources Corp. has begun crushing mineralized stockpiles at its Pine Cove gold processing facility in Newfoundland and Labrador, with plans to re-commission the mill by January 2025. The company aims to process 85,000-115,000 tonnes of stockpiled material, estimated to contain 3,000 to 4,000 ounces of gold. Recruitment for key positions is nearly complete as the company prepares for the mill’s restart.

Maritime Resources Reveals High-Grade Gold at Hammerdown

Maritime Resources Corp has uncovered high-grade gold mineralization at its Hammerdown Gold Project in Newfoundland, with trench samples revealing impressive gold grades. This discovery supports the potential for low-cost, high-margin cash flow as the company prepares to bring its Pine Cove mill back online.