Lexington Gold Share Price (LEX)

At $3k per Oz our small JORC in USA is worth $630m and it's between 0 and 48m.

With more drilling expected to increase this considerably.

Our JORC in SA of around 3m OZ is worth $9bln out of the ground.

With other targets in the tens of millions of ounces, Harmony gold as a JV partner and Gold one agreements of co operation around Ventersburg one can only assume sat at £15m MC this is far too cheap.

Got to be confident the names on the board as well as major share holder Mark Creasy driving this.

Just a matter of time.

I don’t think a lot of people have been into the gold market for quite a while it’s a bit of an unknown but miners are poised for a breakout so loading up may not be a bad idea.

Here is the RNS

https://www.londonstockexchange.com/news-article/LEX/update-re-jelani-resources-jv-project-s-africa/16942730

and some coverage in the Trade Press

https://www.miningweekly.com/article/updated-study-on-jelani-resources-project-under-way-2025-03-17

Should the market be really so disinterested?

I really don't know how a stock like this can be so completely overlooked by the market as this one has. I has interesting properties in the USA, some prospects in South Africa with not only stunning potential, but also proven ounces in the ground in a JV with Harmony Gold. Not only this, but it has a major shareholder Australia's most famous private prospector, Mark Creasy, and management with a long history of successful development of platinum, gold, copper and gemstone mines in Southern Africa and the Philippines. What more could you want from a Macro standpoint?

And yet today, LEX has released an RNS concerning the development of the JV, Jelani, with Harmony, and nobody seems to give a damn. The work, which should take around 3 months will produce cash flow projections, assume the use of already existing infrastructure, thereby massively reducing start up costs etc. etc.. For those unfamiliar with the situation here, the Jelani JV is a 6mn oz JORC rated reserve that LEX currently controls 60% of. It is situated at the Target mine in the Witwatersrand which has a production facility, 4 shafts, ventilation, lifting equipment, and more thereby massively reducing the potential development costs, even though the reserve sits at around 1,600m deep.

At the risk of being accused of "sour grapes", what is the market thinking? Granted there was half decent volume last week, but also a pretty determined seller floating about. Nevertheless, the market seems to have taken the selling under its wing. Frankly, if you are going to do effectively a pre-feasibility study, updating an old one (LEX has to spend this money on its own), you don't do so unless you are pretty damned sure that the result is going to be positive!!

Interestingly, LEX has VERY tight shareholders. Each time the company has come to market for more cash, they raise at a premium which seems to indicate that they have deep pockets and are taking a long term view as to LEX's excellent prospects. at least 65% of the company is tied up with Creasy, and the supposedly Thailand based group of investors plus management.

Yes tens of millions of ounces to target yet still not anywhere near full value on the JORC ounces already accounted for.

Massive upside which im sure will come