AEX Gold


CA$21.4m market cap

CA$0.37 last close

AEX Gold is a gold exploration company with projects in Greenland. The company’s primary focus is on the Nalunaq property, which includes the previously operating Nalunaq Mine. AEX’s current exploration programme is aimed at expanding the current 263koz NI 43-101 gold resource.

Investment summary

AEX Gold (AEX) has a large land position in Greenland where it is exploring for gold. Its extensive licence holding includes an exploitation licence that hosts the previously operating high-grade underground Nalunaq Gold Mine. AEX is in-fill drilling to expand the resource with the aim of re-starting gold production. The company’s second field season is underway, with a resource update planned for the end of the year. AEX is also evaluating the potential of the underexplored district to host another Nalunaq-style deposit. AEX completed a C$1m placement in October.

Share price graph
Balance sheet
Forecast net cash (US$m) 5.8
Forecast gearing ratio (%) N/A
Price performance
Actual (7.5) (30.2) (31.5)
Relative* (1.4) (21.5) (22.5)
52-week high/low C$0.5/C$0.3
*% relative to local index
Key management
Eldur Olafsson CEO