ALMADEX MINERALS COM NPV (OTCMKTS:AXDDF) is a player in the metals mining space that has recently seen some upside volatility. AXDDF has been a consistent performer, suggesting that this story is for real, with steady gains of over 800% upside since the beginning of last year. The most important catalyst in recent action was the company’s announcement this week that it has received assay results from hole EC-17-029 of the 2017 Norte drilling program. By all accounts, the reports appear to be strong.
According to the release, “EC-17-029 was drilled to target and expand the high-grade mineralization and intersected high-grade mineralization and multiple zones of intense stockwork veining and potassic alteration accompanied by significant copper and gold grades.”
ALMADEX MINERALS COM NPV (OTCMKTS:AXDDF) bills itself as a company that acquires and explores for mineral properties in Canada, the United States, and Mexico. The company explores for gold, silver, copper, molybdenum, lead, and zinc deposits. It owns a 100% interest in the El Cobre project covering an area of 7,456 hectares located in Mexico.
The company also holds interests in approximately 20 exploration properties and 20 net smelter return (NSR) royalties, as well as a 2% NSR royalty on the Tuligtic property in Mexico. Almadex Minerals Limited was incorporated in 2015 and is headquartered in Vancouver, Canada.
The company currently has an asset portfolio consisting of numerous exploration properties it manages itself, several NSR royalties on projects managed by other companies, plus gold bullion, equities and cash.
This strong portfolio of assets is the direct result of over 35 years of prospecting, discovery and deal-making by Almadex’s predecessor company, Almaden Minerals Ltd. Almadex’s current focus is following up the 2016 gold/copper porphyry discovery at its El Cobre project in Mexico. Almadex prides itself in conducting highly cost-effective exploration programs, courtesy of its company-owned drill rigs and its team of accomplished drillers and field hands.
According to company materials, “Almadex Minerals Limited is an exploration company that holds a large mineral portfolio consisting of projects and NSR royalties in Canada, the U.S., and Mexico. This portfolio is the direct result of over 35 years of prospecting and deal-making by Almadex’s predecessor company, Almaden Minerals Ltd. Almadex is currently focused on exploration at its El Cobre gold/copper porphyry project in Veracruz, Mexico, in which it holds a 100% interest, subject to a sliding-scale net smelter returns royalty (“NSR”) equivalent to 0.5% in the event that production from the property exceeds 10,001 tonnes per day of ore. This NSR can be reduced to 0.25% at this production rate through the payment of US$3.0 million.”
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As noted above, AXDDF has been on the move again, with strong action this week following strong assay reports on the company’s most important project.
Duane Poliquin, Chairman of Almadex commented, “Since the Norte Zone discovery we have been carrying out a systematic drill campaign to define this target. To date the program has been based on large step-outs which have yet to define the limits of mineralization. Future Norte drilling will also focus on defining the high grade zone that is emerging from the drilling results. Continuous mineralization in hole 29 starting close to surface and continuing for over half a kilometer shows the Norte Zone is developing significant tonnage as well as good grades. Elsewhere on the project first pass Encinal Zone drilling is complete and while we await assays from this work a drill is now being moved to the newly discovered Raya Tembrillo target within the large Villa Rica zone for the very first drill hole there.”
Traders will note 25% piled on for shareholders of the company during the trailing month, but this action is running counter to the larger trend in the name. That said, AXDDF is a stock whose past is littered with sudden rips. Moreover, the listing has witnessed a pop in interest, as transaction volume levels have recently pushed 78% over the long run average.
Earning a current market cap value of $39.1M, AXDDF has a bankroll ($2.1M) of cash reported on the books, which is balanced by virtually no total current liabilities. AXDDF is pulling in trailing 12-month revenues of $240K. In addition, the company is seeing major top line growth, with y/y quarterly revenues growing at 18.7%. We will update the story again soon as developments transpire. For continuing coverage on shares of $AXDDF stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $AXDDF, either long or short, and we have not been compensated for this article.