Ajax Resources — Standing on the shoulders of giants
19/08/2026
In what has been a frenetic 16 weeks since our last note, Ajax has accelerated its strategic evolution via an offer to acquire Nueva Celti in Spain at the same time as proposing a creative solution for its acquisition of Rachaite (essentially by swapping its Eureka interest for Rachaite and El Salto) and materially advancing its acquisition of Paguanta. Over the same time period, it has confirmed that it has submitted all requests for additional information and technical clarification required by the Salta authorities for approval of its Environmental Impact Assessment (EIA) at Macacha in Argentina, presided over the listing of Reveille on the Aquis exchange in London and commenced the environmental permitting process for its planned maiden drilling campaign at Pereira Velho. This note updates our range of valuations for Ajax for all of these developments. In addition, it has been disclosed that directors have been recent buyers of Ajax’s shares.
Bull, Bear & Beyond – Ajax Resources: executive interview
01/07/2026
In this interview, Ajax Resources CEO Ippolito Cattaneo discusses Macacha’s anticipated Environmental Impact Assessment approval, Reveille and the company’s Euronext Growth Oslo exchange listing. He also covers recent developments at Pereira Velho and how he intends to maintain Ajax’s rapid growth profile.
Ajax Resources acquires and develops assets with historical production, unexploited reserves and exploration upside. Its flagship asset is the Pereira Velho gold project in Brazil, which it acquired earlier this year from Appian Capital Advisory (one of the world’s largest, specialist mining funds).
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Ajax Resources – executive interview
30/06/2026
In this interview, Ajax Resources CEO Ippolito Cattaneo discusses Macacha’s anticipated Environmental Impact Assessment approval, Reveille and the company’s Euronext Growth Oslo exchange listing. He also covers recent developments at Pereira Velho and how he intends to maintain Ajax’s rapid growth profile. Ajax Resources acquires and develops assets with historical production, unexploited reserves and exploration upside. Its flagship asset is the Pereira Velho gold project in Brazil, which it acquired earlier this year from Appian Capital Advisory (one of the world’s largest, specialist mining funds).