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https://www.proactiveinvestors.co.uk/companies/news/926610/aex-gold-could-have-upwards-of-two-million-ounces-of-gold-under-its-belt-in-greenland-as-it-pushes-towards-first-production-next-year-926610.html
Further information....
First floated on the TSX Venture exchange (Toronto) in JULY 2017,
The price floated around CA$0.53..........now CA$0.86
Having initially dropped the share price now has tripled in the last year.
See graph here.... and the latest TSX exchange price
https://app.stockopedia.com/share-prices/aex-gold-inc-CVE:AEX
Thanks JCEP, interesting interview.
Spellcheck title !!
This is well worth a listen
https://youtu.be/cd_03C7JtaQ
The shares that existed before the placing, as with any placing.
If you'd like more info on what a placing means I think this description is a good short summary: https://moneyterms.co.uk/placing/
If you'd like to research the AEXG placing on AIM then the admission document is the place to start, which is recommended reading before you buy any AIM share, as it is the primary document that protects the interests of investors by giving accurate detail about the proposition and known risks. Page 10 lists numbers of shares before and after placing. https://wp-aexgold-2020.s3.eu-west-2.amazonaws.com/media/2020/07/27225943/Admission-Document-Final_EU_Active01_703513238_1.pdf
If they placed 94m shares at 45p where did the other 83m shares come from?
That's helpful for my understanding of the context - thanks JCEP.
Hi Evidently
I'll start by saying I am not a mining expert. However, I have invested in this company for over a year and did a lot of DD before investing in the IPO. The detail of the Investment Memorandum was very compelling. But above all, I spent a good amount of time with the CEO and a couple of members of his team. My decision was largely based on the management team. So often in the past I have backed a good idea and not the management team which has lead to some poor returns.
Aside from that, my basic analysis was based on the expected cost of getting high quality deposits out of the ground versus historical gold prices. Of course, I am therefore quite excited about the investment over the next few years.
JCEP thanks but I guess it wasn't clear enough what I meant - the Competent Persons Report from the website does give inferred estimates at Nalunaq but makes clear that they cannot be regarded as indicated resource. So I was using the previous operator's numbers as a (perhaps optimistic) figure. Really I was responding to Up Up's thoughts and making a general comment about the balance of risk and reward here, compared with a pure exploration venture, or the other more operational ventures where Up Up and I seemingly are both invested (HUM, PXC). Did you have any view on that? Cheers, Ev.
Ev
I suggest you look on the company website. You will find a lot more useful and up to date information
Was anyone else entertained to see in the Competent Persons Report that one of the geological fault lines at Nalunaq was named "Your Fault" by the previous operator?! I wonder who named it and why??!! :-)
[Reference: Page iv of Executive Summary which is page 7 of the PDF here https://wp-aexgold-2020.s3.eu-west-2.amazonaws.com/media/2020/06/09125214/AEX-CPR_2020_v9-2_Clean.pdf ]
Hi Up Up,
I'm in a similar position with existing portfolio and wondering about getting in here too. It's more speculative than the others you mention though, right? The risk profile looks similar to a company at the exploration stage (i.e. significant risk of failure) but with lower costs of production (so greater reward for success) due to existing infrastructure . The restart of old operations at Nalunaq looks like it has a reasonable probability of reducing the cash requirements of the exploration side of the business by generating several million USD before resource runs out ( I'm basing that on the old reports here https://www.investegate.co.uk/angel-mining-plc--angm-/rns/interim-results/201211300700093816S/ ). Is this also your view of the type of risk-reward this represents?
Cheers, Ev.
Broke 1st and 2nd level of resistance in one leap
now at 47
No movement only 35k today, I suspect will remain so until pi click on just how profitable we will be here
Can you please post a link once you have done the interview?
Thanks
The funds have been raised to "to allow production to restart in late 2021, with full commercial production expected within 24 months of Admission" (source; AIM Admission document). So its clear from this that a production decision has been made, without releasing to the market an economic study of any kind. Potential alarm bells ringing there. Obviously with the extremely high grades at this project, even with the low recovery from a gravity-only circuit (which should be improved on with flotation), and projected operating costs of $250/t, its clear that margins should be good, but there are risks in execution, particularly if its not clear what exactly is being executed.
So one question is, are there any plans to publish an economic assessment of any kind at any point during the development timeframe of the project, or will the projected financial performance of the project be known only in internal documents until production is achieved in "late 2021"?
Then the other key question leading on from the fact no economic study has been published, is the equity raising adequate to reach production? Is the current capital raised enough to commission the proposed mine and 300tpd processing plant? There is mention of an additional "modest working capital facility" - is this a nice to have to facilitate additional exploration, or is it essential to reach production?
Hi we are interviewing Martin Ménard this week has anyone got any questions they would like us to ask him?
From what I understand, the previous operator built the processing facility inside of the mountain - a costly mistake.
Geology looks solid. GLA
Hi guys this is my third gold along with HUM & PXC
What made me come here was the following article I read yesterday.
AEX Gold (TSXV:AEV) is intending to admit its shares to AIM alongside a £45m placing. The Company, led by CEO Eldur Ólafsson, has established the largest land package of gold assets in Greenland with a current portfolio of licences covering 3,356 square kilometres, in the two known gold belts in Southern Greenland, the Nanortalik and Tartoq gold belts. Nalunaq is a high-grade gold asset with an updated Inferred Mineral Resource covering 422,770 tonnes at 18.5 grams per tonne of gold, or 250,970 ounces of gold, which covers the area in and around the historical mine. Due 31 July. Current mkt cap C$66.7m.
GLA
Hi Jimmy. What was the placing price?
I was invested in Angel mining that had the rights for Nalunaq before going bust. Lost a lot of money there but interesting to see how this new firm will do in comparison to Angel. Dec 21 before production begins so plenty of time.
GLA
I am new to this but wants to know more about them..?
https://www.aexgold.com/
DYOR. Good Luck!
As well as being the 1st person on the companies discussion board I'd like to say best of luck to the company & anyone invested here. I'd I receive the money I'm due today for a completed contract I will be placing a modest amount into the company as gold just seems to be the safe haven in these trying times. GLA