The Financial Statements and the accompanying Management Discussion and Analysis are available on the Corporation's website at www.aexgold.com and will be filed under the Corporation's SEDAR profile at www.sedar.com later today.
Financial Highlights
The Corporation reported a net loss of
Exploration and evaluation expenses during the quarter were
General and administrative expenses during the quarter were
On
The Corporation had a cash balance of
Eldur Olafsson, CEO of AEX, commented: 'I'm pleased to announce our third quarter 2020 financial results, which demonstrate the significant increase in activity across our portfolio as our business transitions towards development.
'Following the successful
'Furthermore, the launch of the request for proposal process for underground development contractors, and front-end engineering and surface drilling all provided significant advancement to the project during Q3 and puts us in an excellent position ahead of our onsite development activities in 2021.
'We look forward to providing updates to the market on our many exciting workstreams in due course.'
Contact:
Tel: 1-416-587-9801
Email: gf@aexgold.com
About AEX
AEX's principal business objectives are the identification, acquisition, exploration and development of gold properties in
Forward-Looking Information
This press release contains forward-looking information within the meaning of applicable securities legislation, which reflects the Corporation's current expectations regarding future events and the future growth of the Corporation's business. In this press release there is forward-looking information based on a number of assumptions and subject to a number of risks and uncertainties, many of which are beyond the Corporation's control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to the factors discussed under 'Risk Factors' in the Final Prospectus available under the Corporation's profile on SEDAR at www.sedar.com. Any forward-looking information included in this press release is based only on information currently available to the Corporation and speaks only as of the date on which it is made.
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