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Amex Exploration ( (TSE:AMX) ) has shared an announcement.
Amex Exploration has begun a 15,000-metre maiden drill program at its Perron West Project in Ontario, with the first of two drill rigs now operating and a second rig expected shortly, complementing ongoing drilling at the original Perron Project in Québec. Initial work will test Target Area A for a potential repetition of the rhyolitic Beaupré Block, which hosts most of the company’s existing mineralization and could materially expand its exploration upside across the 70-kilometre strike length it controls in the Abitibi Greenstone Belt.
The company has also signed a 12-month investor relations and marketing agreement with SRC Swiss Resource Capital AG to raise its profile within the German-speaking European financial community, with monthly fees and optional added services such as roadshows and conference representation. SRC, an established Switzerland-based IR and PR firm specializing in resource issuers, is arm’s length to Amex and its engagement remains subject to TSX Venture Exchange approval, underscoring Amex’s efforts to broaden its shareholder base as it ramps up exploration.
The most recent analyst rating on (TSE:AMX) stock is a Buy with a C$6.75 price target. To see the full list of analyst forecasts on Amex Exploration stock, see the TSE:AMX Stock Forecast page.
Spark’s Take on AMX Stock
According to Spark, TipRanks’ AI Analyst, AMX is a Neutral.
The score is driven primarily by weak financial performance (pre-revenue, widening losses, and negative free cash flow) partly offset by a strong debt-free balance sheet. Technicals are a positive contributor due to a strong uptrend, though momentum looks overbought. Valuation is constrained by ongoing losses and no dividend support.
To see Spark’s full report on AMX stock, click here.
More about Amex Exploration
Amex Exploration Inc. is a mineral exploration company focused on gold exploration in the Abitibi Greenstone Belt, spanning Québec and Ontario. The company’s primary assets include the flagship Perron Project in Québec and the Perron West Project in Ontario, where it is advancing drilling programs across a large contiguous land package of over 570 square kilometres of prospective geology.
Average Trading Volume: 177,468
Technical Sentiment Signal: Buy
Current Market Cap: C$715.5M
For an in-depth examination of AMX stock, go to TipRanks’ Overview page.