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AEX Gold (AEX )

Business description

AEX Gold is a gold exploration company with projects in Greenland. The company’s primary focus is on the Nalunaq property, which includes the previously operating Nalunaq Gold Mine. AEX’s is focused on advancing the project with a series of bulk samples.

Stock data

Market cap.C$17.3m
Last closeC$0.30
High / Low (52 weeks)C$0.5 / C$0.3
Stock market listingCN
Forecast net cash (US$m)5.8
Forecast gearing ratio (%)N/A
TeamResources - Mining
SectorMining

Price performance

%1m3m12m
Actual(4.8)(27.7)(37.5)
Relative *(8.6)(31.8)(39.4)

* % Relative to local index

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Latest research

Investment summary

AEX Gold is an exploration company with a substantial ground holding in Greenland. The company’s most advanced project is the former producing high-grade gold mine, Nalunaq. Over 350,000oz of gold were produced from Nalunaq at an average grade of 15g/t Au between 2004 and 2009, with an additional 15,000oz produced between 2011 and 2013. Following its Summer Work Programme at Nalunaq, AEX has changed its strategy and is now focused on using a four-phase bulk sampling programme to achieve a better understanding of the grade distribution of gold mineralisation at Nalunaq. This programme is expected to commence in Q2/Q319.

Last updated on 20/02/2019

Key management

Eldur Olafsson, CEO

Company address

123 Front Street W, Suite 905
Toronto
M5J 2M2
Canada
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