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Marret Resource Corp
Symbol MAR
Shares Issued 17,702,767
Close 2015-01-27 C$ 3.15
Market Cap C$ 55,763,716
Recent Sedar Documents

FP says Marret's Cline valuation puzzles investors

2015-01-28 06:59 ET - In the News

The Financial Post reports in its Wednesday, Jan. 28, edition that Marret Resource shareholders are excited by a recent filing by institutional investors Frigate Ventures LP and M5V Advisors. The Post's Barry Critchley writes that the funds they manage now have a combined interest of more than 10 per cent. At year-end they had a 12.07-per-cent interest. This filing comes a month after Marret announced the suspension of its monthly dividend. Marret termed the suspension "technical in nature" intending to reinstate the payout "as soon as it's able to pay a dividend under applicable corporate law." The dividend suspension caused the share price to fall. Mr. Critchley notes that a falling share price has been characteristic of Marret since it emerged from an already public company, Primary Corp. The two institutional investors are presumably upset that Marret continues to put a value on its largest investment, Cline Mining. At the end of 2014, Cline had a 10.16-per-cent weight. What puzzles holders is that Cline has been delisted from the TSX for about 18 months, and is now in the process of going through a complicated restructuring. An unnamed observer says, "The entire NAV of Cline should be written off."

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