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Amex Exploration Inc V.AMX

Alternate Symbol(s):  AMXEF

Amex Exploration Inc. is a junior gold mining exploration company. The Company is engaged in acquiring, exploring, and developing viable gold projects in the mining-friendly jurisdiction of Quebec. The Perron gold project is located approximately 110 kilometers (km) north of Rouyn Noranda, Quebec, consisting of 117 contiguous claims covering 4,518 hectares. The property is located in the Archean Greenstone Belt of the Superior province. Its Lebel-sur-Quevillon gold project consists of approximately four properties that are located 26 km North of Lebel-sur-Quevillon in the north-western part of the province of Quebec and 150 kilometers to the Northeast of Val D’Or. The Lebel-sur-Quevillon gold project consists of 73 claims covering 4,073 hectares. The Company's Eastmain River properties are situated in the Eeyou Istchee Territory, James Bay, Quebec, approximately 350 km north of the town of Chibougamau. Its properties include the Eastmain River North, East, West, and South properties.


TSXV:AMX - Post by User

Post by Schumif1on Jun 30, 2020 11:22am
326 Views
Post# 31207735

AMX entering intense courtship phase by major gold producers

AMX entering intense courtship phase by major gold producersAMX is in a key phase of its history at Perron. Following the recent publication (June 23) of IA Securities George Topping of their report initiating coverage on AMEX with a BUY recommendation and a share target price of $3.00, the stock has known a fantastic acceleration up to a high of $2.95 today. In its report IA made a rough intitial resource estimate of 3 Moz of gold in the ground and just like the other firms covering AMX ( Laurentian Bank, PI Financial) recognized the tremendous value of AMX, connected with an outstanding location and infrastructure. The fact that many major gold producers with mills are already in close proximity to Normtal, provides AMX with a substantial PREMIUM up on top of the share price. At the high of $2.95 and let's say 70 million shares outstanding, AMX has a market cap of $206M. Considering the estimated 3Moz in the ground, the fact that all the 3 zones under active exploration are all open laterally and at depth, the quality of the AMX team, no doubt in my view the majors are all pretty excited at this moment with the idea of acquiring this unique asset. My prediction is that before year end we will see a move from one of them on AMX. AMX share price will continue to go up in the coming months and don't forget the premium. I would not be surprised at all to see an offer in the range of $6.00 to $8.00 per share. 
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