gold flake

AEX Gold


C$21.4m market cap

C$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 Gold Mine. AEX’s is focused on advancing the project with a series of bulk samples.

Investment summary

AEX Gold is an exploration company with a substantial ground holding in Greenland. The company’s most advanced project is the former producing high-grade gold mine, Nalunaq. Over 350,000oz of gold were produced from Nalunaq at an average grade of 15g/t Au between 2004 and 2009, with an additional 15,000oz produced between 2011 and 2013. Following its Summer Work Programme at Nalunaq, AEX has changed its strategy and is now focused on using a four-phase bulk sampling programme to achieve a better understanding of the grade distribution of gold mineralisation at Nalunaq. This programme is expected to commence in Q2/Q319.

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