Lexington Gold Share Price (LEX)

Lexington Gold (LEX) – Corporate – Renewal of Jelani Resources Prospecting

Right

Market Cap £19.4m Share Price 5.2p

Lexington announced yesterday the renewal of the Jelani Resources Prospecting

Right until 29 May 2026. In accordance with Lexington’s acquisition of White

Rivers Exploration (WRE), the renewal of the Jelani Resources Prospecting Right

is a milestone for the issue of 25,806,451 deferred consideration shares.

The Jelani Resource Prospecting Right is adjacent to Harmony Gold’s Target 1

Mine and is the basis for the Jelani JV (joint venture) between Lexington and

Harmony Gold. Extensive and deep underground workings at the Target Mine are

a potential launch point to exploit the 2.38M oz of gold contained in the

Measured and Indicated Jelani JV resource.

WHI View: The Prospecting Right contains significant gold resources and is a key

part of Lexington’s portfolio. The successful renewal of the Prospecting Right

ensures that Lexington can continue to pursue a tribute mining arrangement with

Harmony Gold. We still see fair value at 15.3p.

The fact that the shareholders of the JV have decided to renew the prospecting rights surely indicates that Harmony are very interested in the 6.02 million ounces that are down there. They wouldn’t have done it otherwise!

Will be 398,969,609 shares after Creasy gets this next trench total shares.

What’s the total number of shares in issue for Lexington? Before and after todays extra 25 million?

Topped up this afternoon but it’s showing as a sell.