ActivEX (ASX:AIV) has surged over 200% in Monday trades (turnover of $200,000 as at lunchtime) after posting a maiden gold resource over 300Koz.
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It’s a surge of relative liquidity for the quiet $5 million nanocap with 215M shares on issue. Today’s move puts YTD returns above +300% (in what is, of course, a low base effect.)
But, it has put the company on ADVFN’s top gainers boards for Monday, with ActiveEX the biggest gainer on a Monday that has seen the market step back from its new highs approaching 8,800pts clocked on Friday.
(Clearly, many think the bourse ran a little too hard last week on what was ultimately just a mimic of Wall Street, in turn, driven by yet another NVIDIA earnings report.)
What investors will likely be looking for now is what happens in terms of raising capital – the stock had less than $200K in a recent filing. The project the gold resource pertains to is called Gilberton, held as a JV with a private company of the same name.
“Gilberton Gold Pty have given permission for the report to be released,” ActivEX disclosed on Monday, in what is perhaps an unusual statement for a typical goldie JORC release.
“Incoming JV partner Gilberton Gold Pty Ltd have been crucial to funding the Project and will take over management of operations going forward with the next round of drilling planned to commence late in Q3 2025 and will comprise both RC and Core drilling,” AIV MD Mark Derriman said.
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