AMEX Exploration
Primary ticker: TSXV:AMX, FSE:MX0, OTCQX: AMXEF
Stage of development: Exploration
Primary minerals: Gold
Project to promote: Perron Project
Project location: Quebec, Canada
Website: www.amexexploration.com
Corporate presentation: Click here
Corporate video: Click here
VRIFY 3D Presentation: Click here
Amex Exploration Inc. is focused on building high grade gold ounces at its 100 % owned Perron Gold Project located ~110 kilometres north of Rouyn-Noranda, Quebec, consisting of 117 contiguous claims covering 4,560 hectares. Attracted with the high-grade nature and quality of the Perron project, Edorado Gold has become a strategic 9.9% investor in Amex.
The project is well-serviced by existing infrastructure, on a year-round road, 10 minutes from an airport and just outside the town of Normétal (~8 km). In addition, the project is in close proximity to a number of major gold producers’ milling operations.
Amex announced a Mineral Resource Estimate (MRE) on the project:
Open pit and underground stope constrained 594,100 of measured and indicated ounces at 4.28 g/t Au and 1,049,650 of inferred ounces at 3.80 g/t Au.
The MRE shows excellent continuity throughout the project with exceptional high grade throughout, specifically in the High-Grade Zone (HGZ) which alone hosts 336,170 of measured and indicated ounces at 12.05 g/t Au and 415,470 of inferred ounces at 10.49 g/t Au.
A preliminary economic assessment (PEA) on the Perron Project is expected in Q4, 2024.
Cash: CAD18M
Debt: Nil
Major shareholders:
Eric Sprott – 12%
Edorado Gold – 9.9%
Commodity Capital – 3.8%
The Caisse de depot – 2.4%
Ruffer LLP 1.8%
Management ownership – 15%
Financials
Management Profile
VICTOR CANTORE, President and CEO, Director
Mr. Cantore is a seasoned capital markets professional specializing in the resource and hi tech sectors. He has more than 20 years of advisory and leadership experience having begun his career in 1992 as an investment advisor and then moving into management roles at both public and private companies. During his career he has organized and structured numerous equity and debt financings, mergers and acquisitions, joint venture partnerships and strategic alliances. Mr. Cantore serves on the boards of various companies both private and public.
What is your rationale for taking part in 121 Mining Investment?
Looking for on market support, an upcoming resource report, followed by a PEA will be a catalyst for a future move in the share price.
What recent news would you like to highlight to investors attending?
March 28, 2024 – Amex intersected the highest-grade gold composite to date on the Gratien Zone (“Gratien”), on the Perron Project in the Abitibi region of Quebec. The near-surface intercept of 76.69 g/t Au over 3.50 m was found in the western extension of the Gratien orebodies, in follow up drilling to the previously announced results in the February 20, 2024 press release.
What are your key goals for the next 3, 6 and 12 months?
3 Months:
Publish resource report, continue drilling Gratien Zone and other areas on the project with the current 5 drills on the property.
6 Months:
Publish PEA, evaluate other areas on the project which have not yet been drilled but have been identified as prospective.
12 Months:
Discover new zones on the project as there is vast areas on the property which have not yet been drill tested which represents lots of blue-sky potential.
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
The market cap of the company does not reflect the underlying value of the Perron project therefore Amex is doing a lot of marketing, ie. interviews, conferences, and articles to get the story out to as many people as possible.
What do you think makes your company such a compelling investment?
The high-grade gold, the discovery of additional gold zones providing blue-sky potential and the infrastructure available which will assist in reducing capex costs to build a mine.
What are the top 3 key investor takeaways?
1. Eldorado Gold’s 9.9% interest validates the future potential of this project becoming a mine and provides enough cash for two years of further exploration and development.
2. The multiple gold discoveries and VMS discoveries on the project, in addition to a robust treasury, derisks Amex from other exploration projects.
3. The current share price provides an attractive entry point for investors before the release of the Preliminary Economic Assessment in Q4 this year.