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Bullboard - Stock Discussion Forum Metalex Ventures Ltd V.MTX

Alternate Symbol(s):  MXTLF

Metalex Ventures Ltd. is a Canada-based company engaged in the acquisition, exploration and development of mineral properties. The Company’s principal projects are located in Quebec and northern Ontario (U2), Canada. Its overseas projects are located in South Africa, Morocco and Mali. Its projects include Wemindji James Bay Property, Kyle Lake Property, Viljoenshof Diamond Project and James Bay... see more

TSXV:MTX - Post Discussion

Metalex Ventures Ltd > Stockwatch Sept 28th
View:
Post by Oregonduck on Sep 29, 2022 1:17pm

Stockwatch Sept 28th

Chuck Fipke and Chad Ulansky's Metalex Ventures Ltd. (MTX) closed unchanged at six cents on 20,000 shares. The company, a long-time diamond explorer, has been touting a Quebec property south of Chibougamau for its gold and scandium potential, but it still clings to its Kyle Lake diamond property, about 60 kilometres west-northwest of Victor, the old De Beers mine in northern Ontario that closed a few years back after a 10-year run. 

Enthusiasm for the Kyle Lake project peaked in 2011, just after the company completed 450-tonne mini-bulk samples of two kimberlites, T1 and U2 -- and just as it was arranging a big option deal covering the project with Ned Goodman's Dundee Corp. (DC.A: $1.26). Metalex's stock worked its way to a high of $1.34 that year and the Dundee arrangement confirmed that valuation, as it required Dundee to spend $51-million on the project to secure a 51-per-cent interest in the U2 and T1 pipes.

Comment by pennymaker69 on Sep 29, 2022 8:03pm
Can anyone send me the full story?
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