Amex Gold Mining to Fund Perron Gold Mine with Pre-Production Cash Flow - Crux Investor

AI desk brief

Amex Gold Mining is trying to fund Perron’s Phase 1 build largely from bulk-sample and pre-production cash flow rather than repeated equity raises. The company says the 40,000-tonne bulk sample is being built to Phase 1 specification with about C$60 million of spend, roughly C$40 million of which is reusable infrastructure, while any funding gap would preferably be covered by a forward sale rather than equity.

The Phase 1 feasibility study uses a US$3,500/oz gold price and outlines 147,000 oz/year at US$910/oz AISC, with a post-tax NPV5 of C$1.127 billion and a 0.5-year payback. Amex expects 20,000-28,000 oz from the bulk sample, has a non-definitive toll-milling LOI with Eldorado Gold, and is targeting Phase 1 permitting in Q3/Q4 2027 for a projected start-up path that would materially de-risk the project if execution holds.