02:58:54 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



Almadex Minerals Ltd
Symbol AMZ
Shares Issued 44,185,569
Close 2016-09-28 C$ 0.82
Market Cap C$ 36,232,167
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Lundin says buy Almadex Minerals

2016-09-29 00:22 ET - In the News

Brien Lundin, in the September, 2016, edition of the Gold Newsletter, says buy Almadex Minerals Ltd., recently 75 cents. This is the first time he has recommended the stock. He has, however, been recommending the company that spun out Almadex, Almaden Minerals Ltd., for over a decade. Almaden spun out Almadex last year to hold its exploration-stage assets in Mexico, Canada and the United States. Mr. Lundin is particularly interested in one of the Mexican assets, the El Cobre copper-gold project. Highlights from Almadex's drill program at El Cobre include hole 10, which intersected 163.5 metres of 0.68 gram per tonne gold and 0.29 per cent copper, including 43 metres of 1.61 g/t gold and 0.41 per cent copper. This hole was announced in August and led Almadex to rethink its plans for the whole project. Up until hole 10, which was drilled in the El Norte zone, Almadex had been prioritizing the southerly Encinal zone. The company has now brought in a second drill rig so it can continue the Encinal program while simultaneously conducting more drilling around hole 10. Mr. Lundin says he will be watching the results closely. He deems Almadex a buy at current levels and a "hand-over-fist buy" on any significant weakness.

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