Member Info for ThomasFoulser

Agreed MR – the scale Ajax is quietly piecing together here is remarkable, especially given the ultra-low entry costs. Securing La Norteña (6,300 ha) for only US$22.5k is almost unheard of, and the profit-share buyout at US$115k after two years is a masterstroke. It effectively locks in future control of surface gold revenues at a fixed, bargain price no matter how the gold market moves.

What excites me further is the timing. With the EIS already in and operations scheduled to kick off this autumn, Ajax isn’t just land banking – they’re turning ground into value right away. Even a modest alluvial gold operation could become a meaningful near-term cash generator, helping fund Eureka’s copper-gold potential without constant dilution.

On top of that, the local support angle is huge. Having direct engagement with Governor Sadir and mining authorities shows Ajax has provincial backing at the highest level. That kind of political alignment can massively reduce risk and speed up project timelines.

The move to acquire Eureka Mining & Exploration S.A. shouldn’t be overlooked either – it instantly gives Ajax a functioning local platform for permitting, hiring, and contracting, avoiding the teething problems new entrants usually face in-country.

Step by step, Ajax is de-risking and building scale – consolidating ground, opening up near-term revenues, strengthening local ties, and embedding corporate infrastructure. With all that coming together, it feels like the foundations for a serious re-rating are being put firmly in place.

Ajax also announces the acquisition, for a nominal consideration of US$100, of the share capital of Eureka Mining & Exploration S.A., the Argentinian service company subsidiary of Bezant Resources plc, the previous owner of Puna. This acquisition will assist with the local management of the Company's operational activities in the Republic of Argentina.

Appointment of Investor Relations Consultant and Issue of Warrants

The Company has engaged the services of an investor relations consultant, under which the Company yesterday issued 1,725,559 warrants to subscribe ordinary shares of 1 pence each ("Ordinary Shares"), equivalent to 2.0% of the fully diluted issued share capital of the Company at the time of issue (the "Warrants"). The Warrants are exercisable at 8 pence per Ordinary Share, shall not be exercisable for three months from the date of issue, and shall expire on the second anniversary of the date from which they become exercisable (26 November 2027).

Change of Registered Office

Ajax announces that with effect from 29 September 2025, its registered office address will change to:

6th Floor, 99 Gresham Street

London EC2V 7NG

UK

Ippolito Ingo Cattaneo, Chief Executive of Ajax, commented:

"I was delighted to meet with Governor Carlos Sadir, who warmly welcomed Ajax to the Province of Jujuy as a new investor.

I was equally pleased to meet with the Minister of Production, Minister Juan Carlos Abud, the Secretary of Mining and Hydrocarbons, Ing. José Gómez, the Mining Judge for the Province of Jujuy, Dr. Pablo Read, and the Provincial Director of Mining, Dr. Álvaro Buitrago.

These productive meetings, which also included the participation of our operational team and consultants in Jujuy, gave clear demonstration of the supportive and collaborative spirit of the local authorities towards our establishment as new investors in the Province of Jujuy.

During the meetings, we presented Ajax's long-term development strategy, centred on confirming the significant potential of Eureka, with a particular emphasis on:

· ensuring full compliance with local regulations, and

· fostering a collaborative, win-win approach with all stakeholders.

We are committed to building strong relationships in the Province to achieve the successful implementation of our fully funded exploration programme. A sine qua non of our strategy is to ensure that Ajax's presence always delivers meaningful, positive contributions to the communities in which we operate.

As a natural resources investment company, we will continue to evaluate value-accretive acquisition opportunities, while maintaining undiminished attention to our primary focus: publishing a maiden JORC-compliant Mineral Resource Estimate for Eureka.

We look forward with great optimism to commencing operational activities later this year, most notably undertaking the first-ever drilling at the Eureka project. Despite a long production history dating back to t

Https://www.aquis.eu/stock-exchange/announcements/5339650

AJAX RESOURCES PLC

("Ajax" or the "Company")

Company Update

Completion of the Acquisition of the La Norteña Licence Area

Issue of Warrants

Change of Registered Office

Ajax, the natural resources investment company (AQSE: AJAX), provides the following update.

Company Update

The Company's Chief Executive Officer, Mr Ippolito Ingo Cattaneo, visited the Province of Jujuy, Argentina, in August 2025 to review progress ahead of the planned commencement of operational activities in the autumn of 2025 following submission of its Environmental Impact Study for the Eureka copper and gold project (see announcement of 11 July 2025).

During the visit, Mr Cattaneo met with the Governor of the Province, Carlos Sadir, together with senior representatives of the local mining authorities. The meetings underscored a shared commitment: the Province of Jujuy welcomed the Company as a new strategic investor advancing the delineation of gold and copper deposits in Jujuy, while the Company confirmed its commitment to building lasting partnerships with local communities and creating sustainable employment through long-term investment across the mining cycle, from advanced exploration to production.

Additional Acquisitions

The Company has applied for mineral subsurface rights over three areas of land. Two of these applications relate to mineral exploration licences ("Cateo"), covering a combined area of approximately 118 hectares, while the third concerns a mining licence called La Piqueta, which covers approximately 216 hectares (together, the "Applications").

In aggregate, the Applications comprise approximately 335 hectares of land and are all contiguous with the Company's Eureka Project in the Province of Jujuy, Republic of Argentina.

Completion of the Acquisition of the La Norteña Licence Area

Further to the announcement of 19 June 2025, the Company confirms the completion of the acquisition of 100% the La Norteña Licence Area ("La Norteña"), which neighbours the Company's Eureka Project to the north, for US$22,500 from a local investor (the "Acquisition"). La Norteña covers an area of 6,300 hectares.

Under the terms of the Acquisition, the vendor and Puna Metals S.A. ("Puna"), the Company's fully owned subsidiary in the Republic of Argentina, intend to enter into an agreement to exploit alluvial gold extraction (limited to gold located within 6m of the surface) at La Norteña. The vendor will receive 20% of the profits generated from this activity. After 24 months from the start of this activity, which will be subject to local approvals, Puna will have the option to purchase the vendor's profit share for US$115,000. The costs of establishing the alluvial gold extraction activity will be met by Puna.

They know it all completely agree. Director Ippolito Cattaneo has shown real maturity in the way he is steering Ajax Resources, communicating progress in a professional and timely manner that consistently adds value to the company. His significant insider buying is also telling—at his age, he would not be committing this level of personal capital unless he had strong conviction in the company’s prospects and its ability to deliver meaningful returns. With the forthcoming JORC resource, there is a clear case for the share price to re-rate substantially from current levels.

Strange to see you trying to plug CMRS on an Ajax forum. If the story was as strong as you claim, it wouldn’t need cross-promotion here.

CMRS has been around long enough to show its hand: no revenues, constant losses, and a reliance on fundraises just to keep going. Its RNS record is dominated by financing updates and conditional “deals” that never seem to convert into a working project. Even the much-touted Moroccan copper play is still at the conditional stage, with no clear path to commercialisation. It’s a company built on sentiment, not delivery.

Ajax, while also small-cap, has already done more in a few months than CMRS has in years. Since listing, it raised fresh capital with strong director participation, secured the Eureka gold and copper project in Argentina, and immediately expanded its footprint with surrounding licences. Eureka is drill-ready, has a history of production, and is now being advanced towards a JORC resource. That’s tangible progress, backed by capital and management alignment.

At this stage the contrast is obvious. CMRS remains stuck in a cycle of funding promises and speculation, while Ajax is building assets and moving them forward. For anyone looking at long-term value creation, Ajax stands out as the stronger proposition.

At present, the market for Ajax Resources remains quiet with limited trading activity. However, the directors and insiders are steadily increasing their holdings, which suggests strong confidence in the underlying value of the asset and the forthcoming JORC report. As the quality of the resource becomes clearer, I believe the share price has the potential to re-rate significantly, perhaps into the 20–30p range. When that momentum builds, retail investors will likely start to take notice. For now, the stock remains largely under the radar, offering an early opportunity before broader market recognition

What’s this childish bickering on these forum. Embarrassing

As previously noted, we are awaiting the company’s detailed exploration plans, including initial workstreams such as drilling, sampling, and potential JORC-compliant reporting. These updates will provide greater clarity on the roadmap for Ajax Resources’ value creation strategy. While the exact timing is not confirmed, I anticipate these developments within the next 2–3 months. Following this, I believe there is significant potential for the share price to deliver substantial upside from current levels.

The next key opportunity to understand the directors' plans for Ajax Resources and potentially gain greater insight into the company’s strategic direction will be at the upcoming AGM, scheduled for 26 August 2025.

In a recent interview, CEO Ippolito Cattaneo stated that Ajax is now fully capitalised for the Eureka development and is also strongly positioned to acquire new Argentinian projects should they become available. The CEO described the company as “cash-rich” and ready to begin progressing toward asset development while assessing further opportunities in the region.

As a result, the next phase of news is expected to focus on both development and acquisition progress—potentially including transaction milestones, exploration plans, and initial workstreams such as drilling or sampling. These updates, alongside the AGM, will likely help shape a clearer roadmap for the company’s value creation strategy.

Over the coming months, I expect meaningful news flow around asset acquisition and development. If delivered as anticipated, I believe this could lead to a significant re-rating of the share price.

Https://www.lse.co.uk/rns/AJAX.PL/total-voting-rights-holdings-in-the-company-mjn2i0aqdybnoex.html

An updated share capital structure, now standing at 76,905,444 ordinary shares in issue, each carrying one vote. The company holds no shares in treasury, making the total number of voting rights fully transparent. This follows a successful fundraising round, which provided the capital needed to support ongoing exploration activities, including development at the Eureka copper-gold project in Argentina.

The updated holdings also reinforce management’s commitment, with CEO Ippolito Cattaneo maintaining a significant 22.99% stake. Other directors and major shareholders continue to hold meaningful positions, highlighting strong internal alignment and belief in the long-term value of the company’s assets.

This RNS reflects a clear capital structure, strong internal backing, and a business that is well-funded for its next phase of growth. It’s a solid update that positions the company well for further progress.

Just need the JORC now show true value and get the share price multiples where it is now!

AJAX RESOURCES PLC

("Ajax" or the "Company")

Closing of Fundraising Round

Total Voting Rights

Ajax, the natural resources investment company [AQSE: AJAX] is pleased to announce the closing of the second round of the subscription announced on 23 May 2023.

The Company has raised a total of £200,000 through the issue of 4,444,444 new ordinary shares of 1 pence each ("Ordinary Shares") at a price of 4.5 pence per Ordinary Share ("Subscription Shares") by way of subscriptions (the "Subscription"). The net funds raised through the Subscription will be utilised, inter alia, to provide funding for additional exploration work at the Company's newly acquired Eureka Project.

Admission and Total Voting Rights

An application for admission to trading on the Aquis Stock Exchange Growth Market ("AQSE") of the Subscription Shares will be made, with admission anticipated on or around 31 July 2025 ("Admission").

Following Admission, the Company will have 76,905,444 Ordinary Shares in issue, each with one voting right. The Company does not hold any shares in treasury and therefore the total number of voting rights in the Company is 76,905,444.

This figure should be used by shareholders from Admission as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.

Ippolito Ingo Cattaneo, Chief Executive Officer of Ajax, commented:

"We are pleased to have secured additional investment from existing significant shareholders, as well as new investors seeking to build long-term positions in Ajax.

The Company is now fully funded for all planned work at Eureka through to May/ June of 2026.

As evidenced by the Board's continued investment in the Company, we look ahead with confidence to the future as we work towards delivering on our key objectives in Argentina - most notably, the publication of a maiden JORC-compliant Mineral Resource Estimate for Eureka.

The successful achievement of this milestone will play a significant role in materially increasing the Company's market valuation.

Solid progress from Ajax Resources today with the announcement that their second fundraising round has closed successfully, bringing in £200,000 at 4.5p per share. What's particularly encouraging is that this round was supported by both existing significant shareholders and new investors — a good indication of growing market confidence and long-term belief in the company’s strategy.

The funding ensures that Ajax is now fully financed for its exploration programme at the Eureka Project through to mid-2026. That’s a strong position to be in, especially given the stage they're at. Management has made clear that the key focus will now be delivering a maiden JORC-compliant Mineral Resource Estimate for Eureka, which could be a significant catalyst for revaluation.

It’s also worth noting the continued financial backing from the board — always a reassuring signal when leadership has skin in the game. As things stand, there’s a clear roadmap, solid financial footing, and a defined operational target that could bring meaningful newsflow over the coming months.

I personally see 10p easily within the next 3/4 months.

Interesting that Richard Heywood has just acquired an additional 203,061 ordinary shares, increasing his total holding to 1,880,268 shares, representing 2.59% of the company’s issued share capital.

This purchase by a serving director may be viewed as a sign of confidence in the company’s strategy and long-term prospects. Given Mr Heywood’s position and direct involvement in the business, the increased holding is a development of note for existing and prospective shareholders. Another buy signal imo and I’m expecting a rapid price movement to 10p sooner rather than later.

Yep the completion of funding is the catalyst for this to fly after

Agreed - I believe Ippolito’s father is the CEO of Zenith Energy, a company listed on the Oslo Stock Exchange that has recently experienced substantial success — with the share price reportedly increasing by approximately 800% since the end of 2024. There is hope that Ippolito will be able to mirror his father's achievements in the Norwegian market and potentially leverage Zenith’s investor base to support his own ventures. A key milestone to watch will be how quickly he is able to list Ajax on the Oslo exchange, as such a move could prove transformational for the company’s growth and investor appeal.

A very encouraging and strategically significant update from Ajax Resources.

The submission of the Environmental Impact Study (EIS) for the Eureka copper-gold project in Jujuy, Argentina, marks a critical milestone for the company. This signals that Ajax is transitioning from acquisition and planning into active project advancement. The EIS is essential for regulatory approval and the eventual commencement of exploration activities, and its submission demonstrates Ajax's commitment to operating responsibly and in full alignment with local environmental standards.

Importantly, the company is now on a clear path toward a maiden JORC-compliant Mineral Resource Estimate by the first half of 2026. With a fully funded exploration budget of £1.4 million in place, Ajax has set out a realistic and well-structured roadmap to move Eureka from an advanced exploration stage toward potential commercial development.

The upcoming second closing of the subscription, priced at 5p, adds an additional £0.5 million in gross proceeds. This follows the earlier successful £1.0 million raise and reflects ongoing investor confidence. Notably, the fundraising is being carried out without discounting the share price, which is a positive signal for existing shareholders.

The announcement of Ajax’s intention to dual list on Euronext Growth Oslo is also a significant step forward. Engaging Cleaves Securities and Schjødt AS shows that the company is taking a professional, well-advised approach to expanding its investor base and market visibility. A successful listing in Oslo could substantially increase liquidity and open Ajax to a broader pool of natural resources-focused investors.

Overall, this update confirms that Ajax is not only executing on its stated objectives but doing so in a disciplined and strategic manner. The pace of progress—securing Eureka, expanding the licence area, submitting the EIS, securing funding, and now preparing for an Oslo listing—all within a matter of months, is impressive.

While risks remain, as with any early-stage exploration company, the direction of travel is clearly positive. If management continues delivering with this level of transparency and consistency, there is real potential for long-term value creation.

Https://www.aquis.eu/stock-exchange/announcements/5268058

10p by next week or two with ease I reckon

It’s definitely looking good