Robust feasibility study for Perron, received key permits for the bulk sample program, and launched a 15,000-meter drilling program at Perron West as part of a larger 100,000 m drill program for 2026.
Third-party recommendation (Art. 8 DelVO 2016/958): Unmodified reproduction of a promotional article created by a third party · Original author: SRC swiss resource capital AG · Initial publication (original): April 22, 2026, 5:33 a.m. Berlin/Zurich · Link to the original publication ·
- Advertisement - This article is published on behalf of AMEX Exploration Inc.! Paid Relationship: SRC swiss resource capital AG has a paid IR advisory agreement with AMEX Exploration · Author: SRC swiss resource capital AG · First published: April 22, 2026, 5:33 a.m. Berlin/Zurich ·
Dear Readers,
Gold is once again the talk of the commodities sector in 2026: Following its record run at the start of the year, the precious metal continues to trade at high levels in April and is showing significant strength. Following an exceptional year in 2025 with more than 5,000 tons of total demand, 53 new all-time highs, and 863 tons of central bank purchases, the precious metal initially continued its upward surge. At the end of January, the spot price hit a record high of nearly $5,594 per ounce, according to Reuters. Even after noticeable fluctuations, gold was still trading at $4,861 per ounce on April 17, 2026. The big picture thus remains clear: security, currency issues, and geopolitical risks keep gold in the global spotlight.
Beneath the surface, the gold market remains remarkably robust. The World Gold Council reports the second-strongest ETF inflows in history for 2025, at 801 tons. And although March 2026 saw the largest monthly outflows to date from physically backed gold ETFs, the overall Q1 trend remained positive, marking the seventh consecutive quarter of net inflows. For gold stocks, this is precisely what matters: In a market where capital constantly oscillates between profit-taking and safe-haven buying, the companies that stand out are those that not only stand to benefit from the gold price but also deliver visible project progress, robust profitability, and concrete news flow. It is precisely in this environment that AMEX Exploration (WKN: A2DJY1) is making a strong comeback.
AMEX Exploration (WKN: A2DJY1) is an advanced gold developer and exploration company that has recently seen several key project components take shape. The company is expecting gold production from its bulk sample in the second half of 2027. The company’s focus is on the Perron Project in Québec, for which it released an exceptional positive feasibility study for an initial development phase on April 13, 2026.
Source: AMEX Exploration
This is complemented by new permits for the 40,000-ton bulk sample program as well as the launch of a 15,000-meter maiden drilling program at Perron West in Ontario. From the company’s perspective, this creates a clearer development path that combines operational implementation with further exploration potential.
The Phase 1 feasibility study is based on a toll-milling approach and initially envisages two years of pre-production followed by five years of commercial underground mining with external processing. The Phase 1 feasibility study contemplates the mining of the high grade Champagne zone which is only one of the many gold zones on the Perron gold property. According to the company, average production during the first five commercial years is approximately 147,000 ounces of gold per year. The study uses a conservative base case of USD $3,500 gold price and reports an industry leading all-in sustaining costs of $910 per ounce, an initial Capex of CAD 193.9 million, a post-tax NPV (5%) of CAD 1.13 billion, a post-tax IRR of 114.6%, and a payback period of 0.5 years. AMEX (WKN: A2DJY1) emphasizes that the Phase 1 strategy is based on utilizing existing regional infrastructure and aims to accelerate revenue generation starting in 2028. At a gold price of USD $4,750, the after-tax IRR rises to 152.2%, and the payback period shortens to just 0.4 years!
Analysts see significant upside potential!
Analysts have also recently provided a boost: In a report dated April 14, 2026, Haywood Securities reaffirmed its “Buy” rating and raised the price target to CAD 7.50 from CAD 6.50 and Canaccord Genuity increased their target from CAD $6.25 to CAD $7.50. The analysts point to what they view as improved Phase 1 economics, the phased development approach, and a valuation of around0.20x P/NAV compared to about 0.31x for the peer group. At the same time, Haywood emphasizes that the project continues to be associated with high implementation, permitting, and gold price risks.
Green light for large-scale sampling program!
At the end of March, the company announced another operational milestone. According to the company, the key permits for the 40,000-ton bulk sample program have been obtained. Parts of the infrastructure built for the bulk sample will directly support Phase 1 commercial production later on. In this context, AMEX (WKN: A2DJY1) refers, among other things, to underground portal, underground ramp development, site work, water treatment, and the planned 25 kV power connection to Hydro-Québec.