ATEX Resources
Primary ticker: TSXV:ATX
Stage of development: Exploration
Primary minerals: Gold, Copper
Project to promote: Valeriano Copper Gold Project
Project location: Chile
Website: www.atexresources.com
ATEX Resources (TSXV: ATX) hosts the Valeriano copper-gold project in Chile and is knocking on the door of joining the list of the top 10 undeveloped copper projects worldwide. Valeriano is adjacent to the El-Encierro deposit, a JV between Antofagasta and Barrick Gold and in close proximity to other active projects in the area with ownership among Teck Resources, Newmont Mining, and Lundin Mining.
The Company’s 2024-2025 catalyst-rich Phase V program is building on the success of Phase IV, which delivered the best results to date, and will target the high-grade upper epithermal zones of the system and further define the higher-grade trends within the porphyry. The Valeriano system remains open in all directions with significant opportunity for expansion.
Cash: CAD $10M
Debt: CAD $20M
Major shareholders:
Pierre Lassonde – 12%
Franklin Resources – 5%
Merk Investments – 4%
ASA Gold and Precious Metals – 4%
RBC GAM – 1%
Management and Directors – 4.5%
Financials
Management Profile
Ben Pullinger – President, CEO and Director
Over 20 years of international mineral exploration and business development experience.
Held senior executive positions with Golden Star Resources, Excellon Resources and Roxgold. Until his appointment as President and CEO, served as SVP, Exploration and Business Development at ATEX. Graduated with a HBSc in Geology from the University of Johannesburg.
What is your rationale for taking part in 121 Mining Investment?
Our goal behind our involvement in the 121 Mining Investment Conference is to promote ATEX Resources and for relationship development.
What recent news would you like to highlight to investors attending?
September 30, 2024 – ATEX Announces Appointment of Rick McCreary to Board of Directors
September 9, 2024 – ATEX Announces Phase V Exploration Plans
June 25, 2024 – ATEX Demonstrates Scalability and Discovers Overprinting High-Grade System in Phase IV Drill Program
June 3, 2024 – ATEX Appoints Chris Beer to Board of Directors
May 15, 2024 – ATEX Discovers New High-Grade Mineralization At Valeriano Intersecting 68 Metres Of 2.02% CuEq Within A Broader Intercept Of 356 Metres Of 0.98% CuEq
April 30, 2024 – ATEX Step Out Drilling Intersects 114 Metres Of 0.88% CuEq Within A Broader Interval Of 862.2 Metres Of 0.62% CuEq
April 3, 2024 – ATEX Announces CEO Succession and Strengthens Management Team
What are your key goals in 3 months, 6 months, 12 months?
3 Months:
Phase V drilling
6 Months:
Phase V drilling
12 Months:
Completion of Phase V drilling, updated Mineral Resource Estimate, 100% ownership
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
Execute on Phase V drilling and delivering a quality resource update in 2025.
What do you think makes your company such a compelling investment?
Valeriano has experienced rapid geological success in a short timeframe and the system remains open in all directions. It is 100% in Chile, lower altitude vs. peer projects in this region, clean metallurgy, high copper-gold recoveries, strong management team and board with extensive experience in South American exploration and discoveries. ATEX presents a compelling case for an upward stock re-rate when screening against peers.
What are the top 3 key investor takeaways?
Still in the early innings of growth, Valeriano already hosts a sizeable copper-gold deposit with a high quality grade profile. The limits of the system remain unknown. Valuation discount to peers presents an attractive entry point as ATEX continues to de-risk Valeriano and as M&A activity has picked up in this region (e.g., Filo).