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Amex Exploration ( (TSE:AMX) ) has issued an announcement.
Amex Exploration has secured an Ontario drill permit and outlined a 15,000-metre inaugural drill program at its 100%-owned Perron West project, marking its first major campaign on the Ontario side of the Normétal-Burntbush greenstone belt that hosts its Perron gold resource in Quebec. The initial program will focus on targets developed from inherited geophysical and soil databases and recent groundwork, with priority zones aimed at defining the extension of key structures such as the Normétal Fault.
In parallel, Amex is launching a broader regional program over recently acquired Perron West claims that lack historical work but lie on the same fertile belt, including a 3,101 line-kilometre VTEM Plus geophysical survey, prospecting, and extensive soil sampling. Management views the limited past exploration and the known relationship between gold and VMS mineralization as a significant opportunity to expand discoveries, potentially enhancing the company’s resource base and strategic foothold in this emerging Ontario-Quebec gold-VMS camp.
The most recent analyst rating on (TSE:AMX) stock is a Buy with a C$6.50 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 and volcanogenic massive sulphide (VMS) discoveries in the Normétal-Burntbush greenstone belt spanning Quebec and Ontario. The company’s flagship Perron project in Quebec hosts a 2.3-million-ounce gold resource, and Amex now controls roughly 70 km of strike length across an underexplored, highly prospective belt for additional gold and VMS mineralization.
Average Trading Volume: 190,706
Technical Sentiment Signal: Buy
Current Market Cap: C$446.2M
Find detailed analytics on AMX stock on TipRanks’ Stock Analysis page.