What Makes Alice Queen Limited a Darling Amongst Investors?

  • Oct 15, 2019 AEDT
  • Team Kalkine
What Makes Alice Queen Limited a Darling Amongst Investors?

Alice Queen Limited (ASX: AQX) is an advanced gold exploration company, which is based in South Yarra in the Australian state of Victoria. The company is focused on the development of its two core projects, including 84.5 per cent owned Horn Island Gold Project in the Torres Strait in far north Queensland and 100 per cent owned Mendooran Copper/Gold Porphyry Project in the Molong Volcanic Arc in central New South Wales.

With every passing day, the popularity of AQX is growing among investors. The company’s shares on 14 October 2019 closed the day’s trading at AUD 0.051, which is 4.082 per cent higher than its previous closing price with a market cap of AUD 38.56 million and ~ 786.91 million outstanding shares.

Additionally, the stock of AQX has delivered outstanding returns to its investors. In the past one month, three months and six months, the stock zoomed 157.89 per cent, 345.45 per cent and 206.25 per cent, respectively.

Let us have a look at some of the factors that could be attributed to the company’s growing popularity.

Horn Island Gold Project

This brownfields gold project of the company holds prospects for gold-bearing Carbo-Permian style vein/breccia. The project is believed to have a pit deposit (JORC 2012) of 7.9Mt at the rate of 1.9 gram per tonne gold for 492,000 ounces and 35 square kilometres of underexplored mineral field. Additionally, according to metal zonation, the best gold zone may be at a depth of 200 metres to 500 metres, below the depth of existing drilling.

The potential large-scale Intrusion Related Gold System (IRGS) coupled with the company’s joint venture with St Barbara Limited (ASX: SBM) providing funding for further project exploration is reinforcing Horn Island as a gold project with true potential. More on the JV can be read here.

Recently the company also completed a soils and rock chip program at the project as part of its joint venture with St Barbara, owing to which the existing coverage increased by 1.8 kilometres to NW from the gold resource at the project.

Furthermore, the project has huge infrastructure advantage as it is well serviced with access to fresh water supply, airport with recently built terminal serviced by Qantas Link, township of Wasaga with approx. 700 people and deep-water port, among others.

Source: Company’s Report

For the project, Alice Queen is working on target generation under the JV with St Barbara. The project is believed to hold the ability to progress the Mineral Resource Estimate to BFS.

Mendooran Project

At the Mendooran project, 15 porphyry copper/gold targets have been generated as well as identified for drill testing. Additionally, the company has complete access arrangements to the highest priority target areas for exploration drilling.

The company’s current plans for the Mendooran project are:

  • Start the search for a global partner
  • Drill test highest priority targets

Tentative Timeline (Source: Company’s Report)

Yarindury Gold Project

Parallelly, the company is working on its another project, Yarindury in New South Wales, for which AQX recently in mid-September 2019 reported enhanced prospectivity, owing to the discovery of exceptional copper-gold results within 700 metres of the boundary of the project by another gold production entity, Alkane Resources Limited.

The company is now planning to carry out a maiden drill program at the project and initiate geological mapping in the area adjoining the recent discovery by Alkane Resources. More on the company’s activities and plans concerning the Yarindury Gold project can be read here.

Capital Raising Deal

Datt Capital is a well-known name as a fund manager in Australia. Recently, the company welcomed Datt Capital as its new shareholder (~ 6 per cent in AQX) after the two parties entered a deal for a share placement. As part of the deal, Datt Capital injected funds worth AUD 1.5 million in exchange for 50 million ordinary shares of AQX at a price of 3 cents per share.

To date, the company’s activities with respect to its projects – Horn Island, Yarindury and Mendooran highlight the potential that it holds as an attractive player in its market. The cherry on the top is the recent capital raising deal that reflects the confidence of investors in Alice Queen Limited-an ASX listed player that is focused on several exploration and mining opportunities in Australia.


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. The above article is sponsored but NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) under discussion. We are neither licensed nor qualified to provide investment advice through this platform.

 

All pictures are copyright to their respective owner(s).Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.

 

There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

CLICK HERE FOR YOUR FREE REPORT!
   
x
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK