Maritime Resources Corp
As of November 13, 2025, Maritime Resources Corp. was acquired by New Found Gold Corp. Maritime Resources Corp., a junior gold and base metals exploration company, engages in the acquisition, exploration, and development of mineral properties in Canada. It primarily explores for gold, lead, zinc, coper, and silver deposit. The company was incorporated in 2007 and is based in Vancouver, Canada.
Maritime Resources Corp (MRTMF) - Net Assets
Latest net assets as of June 2025: $63.64 Million USD
Based on the latest financial reports, Maritime Resources Corp (MRTMF) has net assets worth $63.64 Million USD as of June 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($81.96 Million) and total liabilities ($18.32 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $63.64 Million |
| % of Total Assets | 77.65% |
| Annual Growth Rate | 39.4% |
| 5-Year Change | 70.93% |
| 10-Year Change | 910.64% |
| Growth Volatility | 124.06 |
Maritime Resources Corp - Net Assets Trend (2007–2024)
This chart illustrates how Maritime Resources Corp's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Maritime Resources Corp (2007–2024)
The table below shows the annual net assets of Maritime Resources Corp from 2007 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $42.55 Million | +9.18% |
| 2023-12-31 | $38.97 Million | +2.88% |
| 2022-12-31 | $37.88 Million | +5.49% |
| 2021-12-31 | $35.91 Million | +44.24% |
| 2020-12-31 | $24.89 Million | +83.51% |
| 2019-12-31 | $13.57 Million | +36.52% |
| 2018-12-31 | $9.94 Million | +58.20% |
| 2017-12-31 | $6.28 Million | +5.18% |
| 2016-12-31 | $5.97 Million | +41.83% |
| 2015-12-31 | $4.21 Million | -10.45% |
| 2014-12-31 | $4.70 Million | +4.06% |
| 2013-12-31 | $4.52 Million | +5.05% |
| 2012-12-31 | $4.30 Million | +42.27% |
| 2011-12-31 | $3.02 Million | +468.98% |
| 2009-12-31 | $531.34K | -7.79% |
| 2008-12-31 | $576.25K | +284.17% |
| 2007-12-31 | $150.00K | -- |
Equity Component Analysis
This analysis shows how different components contribute to Maritime Resources Corp's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 2216206200.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $61.11 Million | 143.61% |
| Other Comprehensive Income | $3.61 Million | 8.48% |
| Total Equity | $42.55 Million | 100.00% |
Maritime Resources Corp Competitors by Market Cap
The table below lists competitors of Maritime Resources Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Dycasa SA
BA:DYCA
|
$9.14 Million |
|
Toleranzia AB
ST:TOL
|
$9.14 Million |
|
Chih Lien Industrial Co Ltd
TW:2024
|
$9.14 Million |
|
PT Primadaya Plastisindo Tbk
JK:PDPP
|
$9.15 Million |
|
Maoye International Holdings Limited
F:5MIA
|
$9.13 Million |
|
Kavveri Telecom Products Limited
NSE:KAVVERITEL
|
$9.13 Million |
|
Indorama Synthetics Tbk
JK:INDR
|
$9.13 Million |
|
Advani Hotels & Resorts (India) Limited
NSE:ADVANIHOTR
|
$9.12 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Maritime Resources Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 38,972,529 to 42,551,252, a change of 3,578,723 (9.2%).
- Net loss of 6,929 reduced equity.
- New share issuances of 10,500,000 increased equity.
- Other comprehensive income increased equity by 890,792.
- Other factors decreased equity by 7,805,140.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-6.93K | -0.02% |
| Share Issuances | $10.50 Million | +24.68% |
| Other Comprehensive Income | $890.79K | +2.09% |
| Other Changes | $-7.81 Million | -18.34% |
| Total Change | $- | 9.18% |
Book Value vs Market Value Analysis
This analysis compares Maritime Resources Corp's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.30x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has increased from 0.75x to 1.30x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2007-12-31 | $0.10 | $0.07 | x |
| 2008-12-31 | $0.36 | $0.07 | x |
| 2009-12-31 | $0.18 | $0.07 | x |
| 2011-12-31 | $0.14 | $0.07 | x |
| 2012-12-31 | $0.15 | $0.07 | x |
| 2013-12-31 | $0.15 | $0.07 | x |
| 2014-12-31 | $0.14 | $0.07 | x |
| 2015-12-31 | $0.12 | $0.07 | x |
| 2016-12-31 | $0.12 | $0.07 | x |
| 2017-12-31 | $0.10 | $0.07 | x |
| 2018-12-31 | $0.11 | $0.07 | x |
| 2019-12-31 | $0.08 | $0.07 | x |
| 2020-12-31 | $0.10 | $0.07 | x |
| 2021-12-31 | $0.10 | $0.07 | x |
| 2022-12-31 | $0.09 | $0.07 | x |
| 2023-12-31 | $0.08 | $0.07 | x |
| 2024-12-31 | $0.06 | $0.07 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Maritime Resources Corp utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -0.02%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 0.00%
- • Asset Turnover: 0.00x
- • Equity Multiplier: 1.34x
- Recent ROE (-0.02%) is above the historical average (-11.76%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2008 | -18.91% | 0.00% | 0.00x | 1.04x | $-166.59K |
| 2009 | -8.45% | 0.00% | 0.00x | 1.00x | $-98.04K |
| 2011 | -2.24% | 0.00% | 0.00x | 1.04x | $-370.07K |
| 2012 | -9.57% | 0.00% | 0.00x | 1.12x | $-841.85K |
| 2013 | -13.21% | 0.00% | 0.00x | 1.06x | $-1.05 Million |
| 2014 | -11.80% | 0.00% | 0.00x | 1.06x | $-1.02 Million |
| 2015 | -16.08% | 0.00% | 0.00x | 1.17x | $-1.10 Million |
| 2016 | -23.24% | 0.00% | 0.00x | 1.09x | $-1.98 Million |
| 2017 | -24.12% | 0.00% | 0.00x | 1.10x | $-2.14 Million |
| 2018 | -24.81% | 0.00% | 0.00x | 1.03x | $-3.46 Million |
| 2019 | -14.78% | 0.00% | 0.00x | 1.04x | $-3.36 Million |
| 2020 | -5.22% | 0.00% | 0.00x | 1.05x | $-3.79 Million |
| 2021 | -4.50% | 0.00% | 0.00x | 1.06x | $-5.21 Million |
| 2022 | -4.72% | 0.00% | 0.00x | 1.05x | $-5.58 Million |
| 2023 | -6.53% | 0.00% | 0.00x | 1.36x | $-6.44 Million |
| 2024 | -0.02% | 0.00% | 0.00x | 1.34x | $-4.26 Million |
Industry Comparison
This section compares Maritime Resources Corp's net assets metrics with peer companies in the Gold industry.
Industry Context
- Industry: Gold
- Average net assets among peers: $1,956,755,866
- Average return on equity (ROE) among peers: -68.70%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Maritime Resources Corp (MRTMF) | $63.64 Million | -18.91% | 0.29x | $9.14 Million |
| Almadex Minerals Ltd (AAMMF) | $14.43 Million | -15.31% | 0.02x | $11.47 Million |
| Allied Gold Corporation (AAUC) | $111.36 Million | -6.66% | 4.92x | $1.61 Billion |
| Aero Energy Limited (AAUGF) | $14.72 Million | -5.86% | 0.05x | $613.34K |
| Abcourt Mines Inc (ABMBF) | $542.08K | -7.78% | 0.16x | $27.58 Million |
| Aben Resources Ltd (ABNAF) | $925.43K | -59.62% | 0.09x | $1.17 Million |
| Advance Gold Corp (ADGCF) | $206.54K | -11.57% | 1.00x | $480.91K |
| Agnico Eagle Mines Limited (AEM) | $19.42 Billion | 10.18% | 0.48x | $105.00 Billion |
| Affinity Gold Corp (AFYG) | $241.37K | -497.12% | 0.10x | $4.68K |
| Andes Gold Corp (AGCZ) | $648.20K | -54.33% | 0.04x | $0.95 |
| Antioquia Gold Inc (AGDXF) | $1.57 Million | -38.90% | 0.28x | $1.44 Million |