Victor Cantore, President and CEO of Amex Exploration Inc. (TSX.V: AMX) (OTCQX: AMXEF) (FSE: MX0), joins me for a big picture update on their transition to development and near-term production at it flagship Perron Gold Project, located in Quebec, Canada. The Company will be changing its name to Amex Gold Mining Inc. in early July to reflect this transition into a developer/producer over the next 2 years; but will also be maintaining a 100,000 meter drill program, so there is still the dual-focus on exploration as well. On June 18th, the Company announced the completion of the final tranche of the oversubscribed "best efforts" private placement for C$80Million, where Eldorado Gold maintained their 27% stake, and they have received receipt of the key permits for the upcoming bulk sampling program. We discussed how the bulk sample will achieve multiple goals of learning about the actual grade and metal recovery reconciliation measured against the metrics outlined in the positive Feasibility Study for the 5 years of commercial Phase 1 production at the project. The bulk sample will have an initial capital outlay of around C$50Million, but after processing ~40,000 tonnes via toll-milling at a nearby plant; and producing around 23,000-28,000 ounces of gold, this will generate revenues more than double that capex. We discussed how the market does seem to fully appreciate or value that the Company will be mining and producing metals and revenues by the end of 2027. Additionally, Victor points out that the portal and decline/ramp development utilized in this upcoming bulk sample is the exact same plan envisioned in their economic study, and will shave all that capital, development work, and time off the front-end of Phase 1 development, providing a faster organic natural transition in Phase 1 commercial mining in 2028 simply by extending that ramp further into the mine. We then discussed the even larger strategy where the revenues generated from the bulk sample in 2027, followed by the 4-5 years of DSO toll-mining in Phase 1, will then fund the exploration and development work that feeds into the Phase 2 studies. Phase 2 will envision the move into a larger production scenario building a processing plant on site, from the robust revenues projected during Phase 1. In addition to all the development slated for this year, the company is pressing forward with an aggressive 100,000 meter drill campaign, continuing to delineate and expand resources at the main Perron Project; while also beginning to explore on their expanded land package across the provincial border into Ontario. The company has substantially increased their land holdings through a combination of staking claims and the 2 recent acquisitions of the Perron West and the Abbotsford/Hepburn properties. Click here to follow the latest news from Amex Exploration If you have any questions for Victor regarding Amex Exploration, then please email them into me at Shad@kereport.com. In full disclosure, Shad is a shareholder of Amex Exploration at the time of this recording, and may choose to buy or sell shares at any time. For more market commentary & interview summaries, subscribe to our Substacks: The KE Report: https://kereport.substack.com/ Shad’s resource market commentary: https://excelsiorprosperity.substack.com/ Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.
