Loading...

Maritime Resources

TSXV:MAE
Snowflake Description

Mediocre balance sheet and overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MAE
TSXV
CA$12M
Market Cap
  1. Home
  2. CA
  3. Materials
Company description

Maritime Resources Corp. engages in the exploration and development of mineral properties in Canada. The last earnings update was 112 days ago. More info.


Add to Portfolio Compare Print
MAE Share Price and Events
7 Day Returns
-10%
TSXV:MAE
-1.5%
CA Metals and Mining
0.9%
CA Market
1 Year Returns
-18.2%
TSXV:MAE
-7%
CA Metals and Mining
1.2%
CA Market
MAE Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Maritime Resources (MAE) -10% -10% 5.9% -18.2% -35.7% -67.9%
CA Metals and Mining -1.5% 1.3% 9.8% -7% 6.9% -22.5%
CA Market 0.9% 2.3% 12.4% 1.2% 16.1% 5.9%
1 Year Return vs Industry and Market
  • MAE underperformed the Metals and Mining industry which returned -7% over the past year.
  • MAE underperformed the Market in Canada which returned 1.2% over the past year.
Price Volatility
MAE
Industry
5yr Volatility vs Market

MAE Value

 Is Maritime Resources undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
  • It is not possible to calculate the future cash flow value for Maritime Resources. This is due to cash flow or dividend data being unavailable. The share price is CA$0.09.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Maritime Resources's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Maritime Resources's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSXV:MAE PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in CAD CA$-0.02
TSXV:MAE Share Price ** TSXV (2019-03-19) in CAD CA$0.09
Canada Metals and Mining Industry PE Ratio Median Figure of 115 Publicly-Listed Metals and Mining Companies 13.44x
Canada Market PE Ratio Median Figure of 542 Publicly-Listed Companies 14.83x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Maritime Resources.

TSXV:MAE PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSXV:MAE Share Price ÷ EPS (both in CAD)

= 0.09 ÷ -0.02

-3.68x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Maritime Resources is loss making, we can't compare its value to the CA Metals and Mining industry average.
  • Maritime Resources is loss making, we can't compare the value of its earnings to the Canada market.
Price based on expected Growth
Does Maritime Resources's expected growth come at a high price?
Raw Data
TSXV:MAE PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -3.68x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Canada Metals and Mining Industry PEG Ratio Median Figure of 35 Publicly-Listed Metals and Mining Companies 0.69x
Canada Market PEG Ratio Median Figure of 252 Publicly-Listed Companies 1.21x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Maritime Resources, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Maritime Resources's assets?
Raw Data
TSXV:MAE PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in CAD CA$0.07
TSXV:MAE Share Price * TSXV (2019-03-19) in CAD CA$0.09
Canada Metals and Mining Industry PB Ratio Median Figure of 1,079 Publicly-Listed Metals and Mining Companies 1.42x
Canada Market PB Ratio Median Figure of 2,347 Publicly-Listed Companies 1.56x
TSXV:MAE PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSXV:MAE Share Price ÷ Book Value per Share (both in CAD)

= 0.09 ÷ 0.07

1.29x

* Primary Listing of Maritime Resources.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Maritime Resources is good value based on assets compared to the CA Metals and Mining industry average.
X
Value checks
We assess Maritime Resources's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Metals and Mining industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Metals and Mining industry average (and greater than 0)? (1 check)
  5. Maritime Resources has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

MAE Future Performance

 How is Maritime Resources expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Maritime Resources has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
33.3%
Expected Metals and Mining industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Maritime Resources expected to grow at an attractive rate?
  • Unable to compare Maritime Resources's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Maritime Resources's earnings growth to the Canada market average as no estimate data is available.
  • Unable to compare Maritime Resources's revenue growth to the Canada market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
TSXV:MAE Future Growth Rates Data Sources
Data Point Source Value (per year)
Canada Metals and Mining Industry Earnings Growth Rate Market Cap Weighted Average 33.3%
Canada Metals and Mining Industry Revenue Growth Rate Market Cap Weighted Average 7%
Canada Market Earnings Growth Rate Market Cap Weighted Average 17.9%
Canada Market Revenue Growth Rate Market Cap Weighted Average 6.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSXV:MAE Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSXV:MAE Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2018-09-30 -2 -2
2018-06-30 -1 -2
2018-03-31 -1 -2
2017-12-31 -1 -2
2017-09-30 -1 -1
2017-06-30 -2 -2
2017-03-31 -2 -2
2016-12-31 -1 -1
2016-09-30 -1 -2
2016-06-30 -1 -1
2016-03-31 0 -1
2015-12-31 0 -1

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Maritime Resources is high growth as no earnings estimate data is available.
  • Unable to determine if Maritime Resources is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSXV:MAE Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Maritime Resources Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSXV:MAE Past Financials Data
Date (Data in CAD Millions) EPS *
2018-09-30 -0.02
2018-06-30 -0.03
2018-03-31 -0.02
2017-12-31 -0.02
2017-09-30 -0.02
2017-06-30 -0.03
2017-03-31 -0.03
2016-12-31 -0.03
2016-09-30 -0.04
2016-06-30 -0.02
2016-03-31 -0.02
2015-12-31 -0.02

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Maritime Resources will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Maritime Resources's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Materials companies here
  2. Maritime Resources's competitive advantages and company strategy can generally be found in its financial reports archived here.
  3. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Maritime Resources's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Maritime Resources has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

MAE Past Performance

  How has Maritime Resources performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Maritime Resources's growth in the last year to its industry (Metals and Mining).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Maritime Resources does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Maritime Resources's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Maritime Resources's 1-year growth to the CA Metals and Mining industry average as it is not currently profitable.
Earnings and Revenue History
Maritime Resources's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Maritime Resources Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSXV:MAE Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 -2.41 1.11
2018-06-30 -2.14 1.05
2018-03-31 -1.57 1.09
2017-12-31 -1.51 1.11
2017-09-30 -1.04 0.65
2017-06-30 -1.71 1.24
2017-03-31 -1.61 1.16
2016-12-31 -1.39 1.03
2016-09-30 -1.61 1.28
2016-06-30 -0.85 0.66
2016-03-31 -0.67 0.53
2015-12-31 -0.68 0.53
2015-09-30 -0.47 0.36
2015-06-30 -0.37 0.28
2015-03-31 -0.54 0.45
2014-12-31 -0.55 0.47
2014-09-30 -0.55 0.47
2014-06-30 -0.65 0.52
2014-03-31 -0.56 0.38
2013-12-31 -0.60 0.49
2013-09-30 -0.63 0.49
2013-06-30 -0.55 0.46
2013-03-31 -0.50 0.46
2012-12-31 -0.41 0.32
2012-09-30 -0.26 0.37
2012-06-30 -0.24 0.35
2012-03-31 -0.22 0.33

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Maritime Resources has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Maritime Resources has efficiently used its assets last year compared to the CA Metals and Mining industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Maritime Resources improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Maritime Resources's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Metals and Mining industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Maritime Resources has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

MAE Health

 How is Maritime Resources's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Maritime Resources's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Maritime Resources's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Maritime Resources has no long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Maritime Resources's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Maritime Resources has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Maritime Resources Company Filings, last reported 5 months ago.

TSXV:MAE Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 6.89 0.00 0.16
2018-06-30 6.26 0.00 0.06
2018-03-31 6.90 0.00 0.36
2017-12-31 6.28 0.44 0.39
2017-09-30 6.15 0.51 0.63
2017-06-30 5.45 0.48 0.14
2017-03-31 5.64 0.10 0.02
2016-12-31 5.97 0.10 0.58
2016-09-30 6.23 0.10 1.19
2016-06-30 4.79 0.33 0.26
2016-03-31 4.27 0.36 0.01
2015-12-31 4.21 0.36 0.00
2015-09-30 4.37 0.27 0.01
2015-06-30 4.53 0.26 0.01
2015-03-31 4.59 0.25 0.03
2014-12-31 4.70 0.24 0.16
2014-09-30 4.73 0.00 0.01
2014-06-30 4.79 0.00 0.07
2014-03-31 4.37 0.12 0.02
2013-12-31 4.52 0.12 0.16
2013-09-30 4.15 0.39 0.17
2013-06-30 4.08 0.38 0.16
2013-03-31 4.22 0.36 0.24
2012-12-31 4.30 0.34 0.36
2012-09-30 4.31 0.00 0.19
2012-06-30 4.39 0.00 0.59
2012-03-31 3.93 0.00 0.11
  • Maritime Resources has no debt.
  • Maritime Resources has no debt compared to 5 years ago when it was 9.4%.
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Maritime Resources has less than a year of cash runway based on current free cash flow.
  • Maritime Resources has less than a year of cash runway if free cash flow continues to grow at historical rates of 52.8% each year.
X
Financial health checks
We assess Maritime Resources's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Maritime Resources has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

MAE Dividends

 What is Maritime Resources's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Maritime Resources dividends.
If you bought CA$2,000 of Maritime Resources shares you are expected to receive CA$0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Maritime Resources's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Maritime Resources's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSXV:MAE Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Canada Metals and Mining Industry Average Dividend Yield Market Cap Weighted Average of 28 Stocks 1.2%
Canada Market Average Dividend Yield Market Cap Weighted Average of 330 Stocks 3.5%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.1%
Canada Bottom 25% Dividend Yield 25th Percentile 2.1%
Canada Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Maritime Resources has not reported any payouts.
  • Unable to verify if Maritime Resources's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Maritime Resources's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Maritime Resources has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Maritime Resources's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Maritime Resources afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Maritime Resources has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

MAE Management

 What is the CEO of Maritime Resources's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Garett Macdonald
AGE 46
TENURE AS CEO 0.2 years
CEO Bio

Mr. Garett MacDonald, MBA, BASc., P.Eng. has been the President and Chief Executive Officer of Maritime Resources Corp., since January 31, 2019. He has been a Director of First Cobalt Corp. since June 2018. He was President and Chief Executive Officer of Tower Resources Limited since April 2018 until February 28, 2019. Mr. MacDonald is Technical Advisor of US Cobalt Inc. since January 31, 2018. He served as Technical Advisor to the Board at Tower Resources Ltd. since May 2017 until 2018 and was its Director since 2018 until February 28, 2019 . Mr. MacDonald serves as Vice President of Project Development at JDS Energy & Mining. He served as Vice President of Operations at Rainy River Resources Ltd. since December 11, 2009 until 2013. Mr. Macdonald served as the Vice President of Operations at Canadian Arrow Mines Limited since April 2, 2007 until December 2009 and had main responsibility to assess the viability of its Kenbridge Nickel Deposit towards a production decision over the next several months and determine the steps necessary for any required permitting. Mr. Macdonald has over 22 years of experience in the mining industry and worked in both open pit mining operations, large civil construction and continuing improvement to underground operations, including Placer Dome Canada Ltd. and Suncor Energy Inc. He has managed large technical programs through the concept, feasibility and into construction stages and has senior management and board level experience with several public companies. Mr. Macdonald served as Engineering Manager of Fortune Minerals Limited from April 12, 2005 to May 2007 and also served as its Mining Manager. He served as Project Director for New Gold after the $310M acquisition of Rainy River. Mr. Macdonald held various engineering and operations positions with Suncor Energy Inc. at its oil sands operations in Fort McMurray, Alberta. Mr. Macdonald served as an Engineer for Placer Dome Canada Ltd., where he worked at the Campbell and Dome gold mines in Ontario. He also has engineering and related experience working for Teck Corporation's Quintette coal mine in British Columbia, as well as two aggregate operations in Ontario. He has been a Director of Maritime Resources Corp. since November 8, 2018. He has been a Director of Gungnir Resources Inc. since July 14, 2015. He has been Director at Aurelius Minerals Inc. since June 2017. He served as an Independent Director at Manitou Gold Inc. since April 2011 until November 14, 2014. From 2009 to 2014, he led feasibility and development activities for the 325,000 oz/year Rainy River Project in NW Ontario. He is Vice President of Project Development for JDS Energy & Mining since May, 2015. Mr. Macdonald is a Mining Engineer. Mr. Macdonald holds a Bachelor of Engineering degree in Mining Engineering from Laurentian University (1991 – 1996) and subsequently earned his Master's in Business Administration (MBA) from the Richard Ivey School of Business at the University of Western Ontario (2003 – 2005).

CEO Compensation
  • Insufficient data for Garett to compare compensation growth.
  • Insufficient data for Garett to establish whether their remuneration is reasonable compared to companies of similar size in Canada.
Management Team Tenure

Average tenure and age of the Maritime Resources management team in years:

0.3
Average Tenure
66
Average Age
  • The average tenure for the Maritime Resources management team is less than 2 years, this suggests a new team.
Management Team

Al Williams

TITLE
COMPENSATION
CA$60K
AGE
60
TENURE
0.4 yrs

Dave McCue

TITLE
COMPENSATION
CA$5K
AGE
68
TENURE
1.9 yrs

Garett Macdonald

TITLE
President
AGE
46
TENURE
0.2 yrs

Germaine Coombs

TITLE
Chief Financial Officer
TENURE
0.1 yrs

Bernie Kahlert

TITLE
Vice President of Exploration
COMPENSATION
CA$86K
AGE
76

Lorna MacGillivray

TITLE
Corporate Secretary
AGE
66
TENURE
0.1 yrs

Cathy DiVito

TITLE
Manager of Investor Relations
TENURE
8.3 yrs
Board of Directors Tenure

Average tenure of the Maritime Resources board of directors in years:

0.3
Average Tenure
  • The average tenure for the Maritime Resources board of directors is less than 3 years, this suggests a new board.
Board of Directors

John Hayes

TITLE
Chair of the Board
TENURE
0.3 yrs

Garett Macdonald

TITLE
President
AGE
46
TENURE
0.3 yrs

Peter Mercer

TITLE
Director
COMPENSATION
CA$14K
TENURE
7.1 yrs

Mark Ashcroft

TITLE
Director
AGE
45
TENURE
0.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
22. Nov 18 Buy Douglas Fulcher Individual 22. Nov 18 22. Nov 18 100,000 CA$0.13 CA$13,000
13. Nov 18 Buy Bernard Kahlert Individual 09. Nov 18 09. Nov 18 80,000 CA$0.13 CA$10,000
09. Nov 18 Buy Dundee Resources Limited Company 08. Nov 18 08. Nov 18 17,252,036 CA$0.11 CA$1,897,723
X
Management checks
We assess Maritime Resources's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Maritime Resources has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

MAE News

Simply Wall St News

Does Maritime Resources Corp's (CVE:MAE) CEO Salary Reflect Performance?

Doug Fulcher took the reins as CEO of Maritime Resources Corp's (CVE:MAE) and grew market cap to CA$10.61m recently. … CEOs leading companies of similar size and profitability … See our latest analysis for Maritime Resources

Simply Wall St -

MAE Company Info

Description

Maritime Resources Corp. engages in the exploration and development of mineral properties in Canada. The company primarily explores for gold and base metal deposits. It holds 100% interests in the Green Bay property covering 51.7 square kilometers located in Newfoundland and Labrador, Canada. The company was incorporated in 2007 and is headquartered in Vancouver, Canada.

Details
Name: Maritime Resources Corp.
MAE
Exchange: TSXV
Founded: 2007
CA$11,875,842
131,953,807
Website: http://www.maritimeresourcescorp.com
Address: Maritime Resources Corp.
800 West Pender Street,
6th Floor,
Vancouver,
British Columbia, V6C 2V6,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSXV MAE Common Shares TSX Venture Exchange CA CAD 07. Oct 2010
OTCPK MRTM.F Common Shares Pink Sheets LLC US USD 07. Oct 2010
Number of employees
Current staff
Staff numbers
0
Maritime Resources employees.
Industry
Gold
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/20 00:18
End of day share price update: 2019/03/19 00:00
Last earnings filing: 2018/11/28
Last earnings reported: 2018/09/30
Last annual earnings reported: 2017/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.