- Quebec junior gold miner Amex Exploration (TSXV:AMX) will undertake an up to C$30 million non-brokered private placement
- Eldorado Gold (TSX:ELD) will make a C$17.6 million investment as part of the financing
- Amex Exploration is expanding high-grade gold and copper-rich volcanogenic massive sulphide zones at its 45.18-square-kilometre Perron gold project
- Amex Exploration stock has added 2.37 per cent year-over-year but remains down by 45.94 per cent since 2020
Quebec junior gold miner Amex Exploration (TSXV:AMX) will undertake an up to C$30 million non-brokered private placement. The transaction is split into 11 million charity flow-through shares priced at C$2.27 for gross proceeds of up to C$24.97 million, as well as up to 3.125 million hard-dollar shares priced at C$1.60 for gross proceeds of up to C$5 million.
This content has been prepared as part of a partnership with Amex Exploration Inc., and is intended for informational purposes only.
Eldorado Gold (TSX:ELD), an established gold and base metals producer in Canada, Turkey and Greece, intends to make a C$17.6 million investment as part of the placement, picking up 11 million shares priced at C$1.60, granting it a 17 per cent stake in Amex on an undiluted basis. According to ElDorado’s July 2025 investor presentation, the company produced 520,293 ounces of gold in 2024 and holds 11.9 million ounces in proven and probable reserves.
Amex will use the funds to define targets and drill its Perron gold project, where estimated resources stand at 1.615 million ounces measured and indicated and 698,000 ounces inferred.
According to Thursday’s news release, Amex will make use of Canada’s flow-through shares program, which allows mining, oil & gas and renewable energy companies to ease their capex burden by passing on exploration and development expenses to investors.
The financing is expected to close by August 7, 2025.
Leadership insights
“Eldorado’s strategic investment significantly strengthens our exploration budget and reaffirms the high-quality potential of the Perron project and the recently acquired Perron West project,” Victor Cantore, Amex Exploration’s president and chief executive officer, said in a statement. “With a strong resource estimate already defined, we see substantial untapped upside across the broader property. This funding will enable us to aggressively pursue new targets and further demonstrate the scale and opportunity in the broader district-scale camp.”
About Amex Exploration
Amex Exploration is expanding high-grade gold and copper-rich volcanogenic massive sulphide (VMS) zones at its 45.18-square-kilometre Perron gold project in Quebec.
The adjacent 151.92-square-kilometre Perron West project, spread across Quebec and Ontario, features geology highly suggestive of high-grade gold and VMS mineralization.
Amex Exploration stock (TSXV:AMX) last traded at C$1.73. The stock has added 2.37 per cent year-over-year but remains down by 45.94 per cent since 2020.
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