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Company Spotlight
Rye Patch Gold Corp. (TSXV: RPM)
Rye Patch Gold Corp (TSXV: RPM) is an advanced stage gold exploration company focused on the Oreana + Read More
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The Ubika Research Junior Resource stock watchlist (Week of March 08, 2010)
Temex Resources Corp. (Symbol: V.TME) |
| Company Name: |
Temex Resources Corp |
| HQ Location: |
Toronto, Ontario |
| Company Website: |
www.temexcorp.com |
| Shares Outstanding |
79 Million |
| Closing Price (Mar 08, 2010) |
$0.27 |
| Market Cap: |
$21 Million |
| Average Daily Volume |
120,000 |
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Share Highlight / 1-Year Stock Chart
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Business Overview
Temex Resources Corp. is a junior gold exploration company focused on mineral exploration, operating primarily in Ontario. Temex has a portfolio of properties that include Timmins Gold Project, Croxall Gold Project, Juby Gold project, Gowganda silver project. It also has blue sky opportunities with Latchford Gold project and Ring of Fire project. The current focus of the company is the Croxall Gold property in the West Timmins Gold District. Another key project for the company is the Timmins Gold Project that consists of the Whitney Township Property and the PAM Property, located along a 4 kilometre long, 10 million ounce mine trend, which includes the Pamour open pit being operated by Goldcorp Inc. The company is engaged in a vigorous drilling program currently at the Croxall Gold Project and has been getting some very good drill results at this property. + More info
What is interesting about Temex Resources Corp. (V.TME)?
- The company’s gold projects are in Timmins, a proven mining camp. The Timmins Mining camp has produced over 70 million ounces of gold till date and is home to the world’s 2nd largest gold producer, Goldcorp (TSX-G).
- The current focus of the company is the Croxall Gold Project that is located in the West Timmins Gold District. This mining district has been made famous by the recent success of Lake Shore Gold (TSX-LSG). Temex’s Croxall Gold Property is contiguous to the eastern boundary of Lake Shore Gold, and in close proximity to past and current gold producers.
- Croxall Gold Project is located at the porphory, which have been known to be associated with high grade mineralization based on the past mining experiences in the region.
- The company has recently received positive drill results at this property drillings so far that confirm the presence of widespread mineralization and a number of altered felsic porphyry units associated with the gold mineralization.
- Another key project for Temex is the Timmins Gold Project. This project also has significant exploration potential. Past drilling and mining experience in the region indicate high grade (Hallnor average grade: 0.40 ounce per tonne gold). The project has excellent infrastructure and two mills within a 5 KM radius.
- Company’s projects are in Ontario, Canada, a safe and stable mining jurisdiction with very low geo-political risks.
- The company has a strong and stable management team at the helm.
- The company is backed by some prominent financial backers including Sprott Asset Management, TD Asset Management and Pinetree Capital that own shares in the company. Major shareholders own 45% shares of the company.
Risks
Temex Resources is an early stage exploration company. The commercialization risks associated with gold mineral exploration and development are high and its prospects for discovering economically viable gold resources are uncertain. Gold prices can fluctuate and a decline in the gold prices could impact the share price of the company adversely. Early stage exploration companies typically needs significant amount of capital and although currently well financed, Temex may still require additional financing. This could result in shareholders’ dilution.
Temex Resources Corp. News
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