Amex Exploration (TSXV: AMX) has elected to continue to push forward with the development of their flagship Perron project in Quebec. The firm this morning announced that it has begun the process of conducting a feasibility study for the project.
The study, which is currently slated to be released in the first quarter of 2026, is to focus of phase one of the project as outlined in the revised preliminary economic assessment recently released by Amex. The study will focus on the economics of a four to five year mining operation that will see an estimated 1,000 tonnes per day of ore extracted via contract mining, which will then be processed via toll milling, leveraging existing infrastructure in the region.
As per the recently conducted PEA, initial capital costs are expected to be low at $146.1 million, which will be offset by pre-production revenues to the tune of $68.6 million, for net initial capex of $77.5 million. Average annual gold production under the scenario is estimated at 100,000 ounces, with all in sustaining costs expected to come in around US$1,165 per ounce.
WATCH: Amex Exploration: Revised Perron PEA Has INSANE Economics
“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. Focusing only on Phase 1 of the project will accelerate the project development, positioning AMEX as a near term producer,” commented Victor Cantore, CEO of Amex Exploration.
A second feasibility study on the phase two portion of the mine plan as outlined in the PEA is expected to be conducted at a later date, with Amex currently prioritizing the time to revenue, with a target of 2028. Phase one production is expected to finance the second phase of development.
Amex Exploration last traded at $2.87 on the TSX Venture.
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