Alexandria Minerals Corp ALXDF

RE:Can someone explain

[Poriemon]

The properties are right beside each other.  Also, there's a decent chance that a gold vein that makes up the triangle zone goes through AZX's properties.

Further, and not sure if they still do, but from a historic agreement AZX owns a number of ICG shares (and possibly a net smelter royalty?)  The best place to see that is AZX's FS and MD&A.

Now, fundamentally they're in very different stages of production.  ICG had done a PEA and proved out the feasability of the project, whereas AZX is still shoring up their reserves.  To do a PEA, AZX will need their drill results to go well, and all the associated costs will mean higher dilution.  Don't forget - before ICG was Integra, they were Kalahari, and in the transition from Kalahari to ICG was a reverse split.  Reverse splits tend to make the company more attractive for future shareholders at the cost of current shareholders.