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Technical Study

Amex Exploration Commences Feasibility Study at Perron

By The Northwire Desk — AI Analysis Sep 30, 2025 · 07:01 AMX · 2.87 Amex Exploration Inc.
AMX · Price

Executive Summary

  • Amex Exploration announced the start of a Phase 1 Feasibility Study (FS) for the Perron gold project, with completion targeted for Q1 2026.
  • The FS evaluates a 4‑5 year, 1,000 t/d contract mining and toll‑milling operation, projecting >100,000 oz Au annual production at an AISC of US$1,165/oz and a net initial CAPEX of $77.5 M (gross $146.1 M offset by $68.6 M pre‑production revenue).
  • The company expects Phase 1 to generate cash flow that will fund Phase 2 construction, targeting first production in 2028 and minimizing shareholder dilution.

Key Details

  • Project Scope: Phase 1 FS covers the Perron Project (Quebec) only; a separate Phase 2 FS will be initiated later.
  • Mining Plan: Contract mining at 1,000 t/d for 4‑5 years with toll‑milling using existing regional infrastructure and processing plants.
  • Capital Cost Estimate: Gross initial CAPEX $146.1 M; pre‑production revenue of $68.6 M reduces net initial CAPEX to $77.5 M.
  • Production Forecast: Average annual gold output >100,000 oz Au.
  • Cost Metric: All‑in Sustaining Cost (AISC) estimated at US$1,165 per ounce of gold.
  • Grade: Diluted head grade projected at 10.07 g/t Au.
  • Timeline: FS expected to be completed by Q1 2026; Phase 1 production targeted for 2028.
  • Financing Strategy: Phase 2 mine construction to be financed from free cash flow generated during Phase 1 operations, reducing need for external equity dilution.
  • Consulting Team: Evomine Consulting Inc., Norda Stelo, Soutex Inc., A2GC, and Hydro Ressources (all Quebec‑based) engaged to conduct the FS.
  • Qualified Persons: Aaron Stone, P.Geo. (OGQ 2170, PGO 3708) – Perron West Project (Ontario); Jérôme Augustin, P.Geo., Ph.D. (OGQ 2134) – Perron Project (Quebec).

Notable Quotes

“Following the robust economics outlined in our recent PEA, we have made the strategic decision to advance directly to a full Feasibility Study for the Perron Asset… positioning AMEX as a near‑term producer.” – Victor Cantore, President & CEO

“The staged production strategy derisks the project, simplifies permitting, accelerates time to revenue and minimizes shareholder dilution.” – Victor Cantore, President & CEO

Read the original news release →

More from Amex Exploration Inc.

Aug 13, 2026 · 07:01

Amex’s Perron permit filing advances the project timeline, though significant execution hurdles remain for the deposit.

Production / Operations Aug 05, 2026 · 07:02

Amex completes portal blasting at Perron and prepares for bulk sample ramp development, maintaining its project schedule without unexpected delays.

Production / Operations Jul 13, 2026 · 07:01

Amex Gold awarded CMAC-Thyssen a contract for Perron bulk sample underground work to maintain near-term development schedules.

Production / Operations Jul 06, 2026 · 08:10

Amex Gold advances its Perron project bulk sample program by engaging a portal contractor and installing a water plant on site.

Production / Operations Jun 18, 2026 · 08:54

Eldorado Gold secures a 27% stake in Perron, cementing control as the project’s funding round concludes.

Financings May 28, 2026 · 20:35

Perron Feasibility Filing Confirms Strong Economics but Insider Selling and High Gold Assumptions Demand Caution

Technical Study