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Zak mir interview out

Congrats we have our first deramper! About time!

Usually a good sign . Means price is going higher.

By the price not moving I expect this to be 20p jan. A decent 30% today but should be higher. At least 10p.

Yeah mate that’s exactly it. Everything’s lined up, but the price hasn’t moved yet. That’s the sweet spot. Once the crowd works it out it’s a different game. Right now it’s bargain territory with a monster RNS behind it.

Exactly. Everyone keeps talking about ounces but the real play here is the district. Projects in proven districts get valued higher because the risk premium drops. Add Appian’s name and gold near all time highs and it’s a rocket waiting for fuel. Market just hasn’t clocked it yet.

Exactly. Gold is flying, anything near surface with ounces is getting bought up all over the place. Appian knows this which is why they’re getting in now. They’re not stupid. They’re positioning ahead of the JORC and ahead of the crowd. People think small juniors don’t get these opportunities but here we are. Doesn’t get much cleaner.

And don’t forget where it is. Appian worked Serrote for years. They know every inch of that district. If they didn’t see familiar signatures in Pereira Velho, they’d walk. Instead they’re backing it. That says more than any presentation could.

Yeah Appian’s basically saying “prove it and then we’ll take the rest”. Shows confidence. They’re not front-loading their gain. They’re backing the ounces.

Exactly. This isn’t your usual AIM burn rate raise. Money’s going straight into drills. Dilution is only a problem when it funds nothing. Here it’s funding something that actually moves the dial.

TF’s you nailed the detail but the short version is simple. Appian wouldn’t touch this unless they thought they could make serious money again. They already turned the neighbour into a $420m exit. They know exactly what they’re backing. And they’re taking stock on the same terms as everyone else. That never happens at this stage unless the upside is real.

Will be a very interesting open….9? 10? 12?

Today’s announcement from Ajax Resources feels like a moment many long-term investors have been waiting for. The approval of the Environmental Impact Study for Eureka is far more than a bureaucratic box ticked. It is the turning of a page. After years of historical groundwork by previous operators and months of careful preparation by Ajax itself the project finally moves from planning into real on-the-ground exploration. It is the point where theory begins to give way to evidence and narrative begins to give way to data.

The most striking part of this update is not just that mobilisation is starting but that Eureka is genuinely drill ready. This is not a case of a company scrambling to design a programme after receiving a permit. Ajax inherits a project where high-grade copper oxides have already been verified at surface with standout results reaching 6.1 percent copper and multiple campaigns repeatedly returning significant grades. Add to that the fact that the historic mine on the licence has operated for around four hundred years without a single modern drill hole and the sense of untapped potential becomes difficult to ignore.

The geological picture is layered and unusually rich. Shallow gravels with copper oxides sit above older basement rocks that may host deeper sulphide feeders. Previous geophysics have already pointed to chargeability anomalies that deserve proper testing. Even more intriguing is the historic commentary on placer gold potential which has remained largely untouched because earlier operators including Codelco were focused primarily on copper. The idea that an established copper target may sit alongside underexplored gold upside adds a dimension to Eureka that few junior projects can claim.

None of this means that outcomes are predetermined. The company itself is clear that the historic tonnages and grades are not compliant and must not be treated as current resources. But what matters is that the early drilling now commencing has the ability to confirm or dismiss decades of assumptions and to do so quickly. With an initial fifteen hundred metres of diamond drilling followed by a further four thousand metres guided by results the next few quarters should deliver steady meaningful news flow. It is this transition from potential energy to kinetic energy that investors often wait for and Ajax is now firmly at that point.

The timing is unusually favourable. Copper and gold are trading near record levels at precisely the moment the company begins drilling a project with both commodities potentially in play. The economics of heap leaching in gravels with low carbonate content are well understood across the industry and Eureka’s geology appears to align naturally with low-cost recovery characteristics. It is rare to see a junior explorer enter its exploration phase fully funded through to mid-2026 yet Ajax confirms its entire programme including the resource-defining work is financed. That clarity removes one of the major

Https://x.com/ajax_plc/status/1995438413298966972?s=46

Https://x.com/ajax_plc/status/1995438413298966972?s=46

New slow has begun

12-13p is too cheap I see 30p 2026

Just read the quarterly and it honestly feels like Ajax is gearing up for a big run. The whole update has that sense of momentum where pieces are finally dropping into place. Cash is up… assets are up… and the company looks far better positioned than it did even a few months ago.

Eureka is clearly the star of the show. They closed the deal on brilliant terms and then went straight out and doubled the size of the licence area by grabbing the surrounding ground. That tells you they know what they’ve got. Drilling is lined up for before year end… two or three holes to get the story moving… and once the results start coming in that’s where sentiment usually shifts sharply…On top of that they’ve added real depth with the Paguanta Project in Chile. This isn’t blue sky. There’s historic work millions spent and an existing resource at Patricia. It gives Ajax another proper asset with genuine potential and spreads opportunity across two strong jurisdictions.

They’ve also hinted at progress on an alluvial gold angle in Argentina with more details expected early next year. Another possible value driver sitting in the background…All in all the quarterly reads like a company turning the corner into an active results driven phase. Multiple projects… cash to move… drilling about to begin… and a lot more news on the way. Feels like the story is only just starting to heat up.

Tick up coming…..

Movement has begun…..don’t miss out before it’s too late expecting 10p+ shortly

I think he said it’s due q1 from his interview so next couple of months so should be a huge 2026 for us

I can’t wait to see what the JORC values us at, and even happier I got in here before the noise and the stock being on anyone’s radar