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Last C$0.84 CAD
Change Today -0.04 / -4.55%
Volume 54.5K
NGQ On Other Exchanges
As of 4:00 PM 07/2/15 All times are local (Market data is delayed by at least 15 minutes).

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07/3/14 - C$2.24
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ngex resources inc (NGQ) Details

NGEx Resources Inc. engages in the acquisition, exploration, and development of mineral properties. The company primarily explores for copper, gold, silver, and zinc. Its principal assets include the Los Helados Project located in Region III of Chile; Josemaría Project situated in northern San Juan province, northwest Argentina; and the Filo del Sol Project located between San Juan Province, Argentina, as well as Region III, Chile. The company was formerly known as Canadian Gold Hunter Corp. and changed its name to NGEx Resources Inc. in September 2009. NGEx Resources Inc. was founded in 1983 and is headquartered in Vancouver, Canada.

Founded in 1983

ngex resources inc (NGQ) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$333.9K
Chief Financial Officer
Total Annual Compensation: C$185.0K
Director of Corporate Development
Total Annual Compensation: C$180.0K
Vice President of Exploration
Total Annual Compensation: C$232.7K
Total Annual Compensation: C$201.5K
Compensation as of Fiscal Year 2014.

ngex resources inc (NGQ) Key Developments

NGEx Resources Inc. Reports Unaudited Consolidated Earnings and Production Results for the First Quarter Ended March 31, 2015

NGEx Resources Inc. reported unaudited consolidated earnings and production results for the first quarter ended March 31, 2015. For the period, the company reported net loss was CAD 12.6 million or CAD 0.07 per share as compared to a loss of CAD 9.4 million or CAD 0.05 share for 2014. Both exploration and project investigation expenses and net loss from continuing operations increased when compared to the first quarter ended March 31, 2014. This is due to expenditures at the Filo del Sol Project. The operating losses are a reflection of the company's status as a non-revenue producing mineral exploration company. As the company has no source of income, losses are expected to continue. Net cash used in operating activities was CAD 14.9 million and consisted primarily of the loss from operations of CAD 12.6 million, which included exploration expenditures of CAD 12.4 million and was adjusted for the impact of non-cash items and changes in non-cash working capital items. Net loss from continuing operations was CAD 12.568 million against CAD 9.358 million a year ago. Basic and diluted loss per share from continuing operations was CAD 0.07 against CAD 0.05 per share a year ago. Total basic and diluted loss per share was CAD 0.07 against CAD 0.05 per share a year ago. Net loss, quarter over quarter, is affected by the level of exploration and project investigation expenses incurred and write-off/down of mineral properties interests and will vary accordingly. Net loss is also impacted by the recognition of share-based payments in each quarter which depends on options granted and vested. Exploration and project investigation expenditures are affected to some extent by seasonal factors, exploration results, share-based payments and availability of funds. The company's business is driven by seasonal trends through increased exploration activity during the summer months in South America as well as the achievement of project milestones such as the achievement of various technical, environmental, socio-economic and legal objectives, including obtaining the necessary permits, preparation of engineering designs, as well as receipt of financings to fund these objectives. Mineral properties and related expenditures were CAD 383.43 million against CAD 358.879 million a year ago. For the quarter, the company reported field work resumed with a total of 2,210 metres drilled. Three holes were completed during the quarter. Drilling was focused on converting a portion of the Indicated Resource to Measured as well as geotechnical drilling in the volume of the conceptual block cave.

NGEx Resources Inc. Announces Results from the Final Fourteen Holes of the 2014/2015 Drill Program at Filo Del Sol Copper-Gold-Silver Project Located in Region III, Chile and San Juan Province, Argentina

NGEx Resources Inc. announced results from the final fourteen holes of the 2014/2015 drill program at the Filo del Sol copper-gold-silver project located in Region III, Chile and San Juan Province, Argentina. Filo del Sol is a high sulphidation epithermal copper-gold-silver deposit associated with a porphyry copper-gold system. The drill holes announced continue to extend the high-grade silver resource announced on December 2, 2014 and confirm that this resource is part of a much larger mineralized system. The fourteen holes released here span a north-south distance of just over 3,800 metres, with RCVI-20 at the southern edge of the drill pattern and VRC93 at the north. Geological mapping completed during the field season demonstrates that the Filo del Sol epithermal system extends for a distance of at least 4,000 metres north-south by 900 metres east-west and is buried under a thin layer of post-mineral volcanics to the north. The current resource extends for 1.5 kilometres at the southern end of this system, and remains open to expansion towards the north. The mapping also confirmed that the Filo del Sol system is divided between a southern fault block which hosts deeper-level porphyry-style mineralization and a northern down-dropped fault block which preserves the shallower epithermal system. A total of 7,060 metres of drilling was completed in 23 holes during the 2014/2015 program which finished on March 4th. All of these holes were reverse circulation (RC) drilling, with the exception of a single diamond drill hole which was abandoned at 156 metres depth. Holes RCVI-19, 20, 21 and 22 were drilled on the Chilean side of the border (indicated by different nomenclature) to the south of the resource area. These holes were drilled into the southern fault block and intersected wide zones of porphyry-style copper-gold mineralization with both RCVI-20 and 21 ending in mineralization. It should be noted that RCVI-20 was a re-drill of RCVI-19 from the same location and, although they are reported separately here, they effectively represent a single drill hole. VRC87 was drilled to the west, across the interpreted structure which bounds the Filo del Sol deposit in this direction and into barren wall rock on the western side. VRC88 was collared 105 metres to the east of VRC74 (2013/2014 season: 44m @ 1.1 g/t Au and 0.80% Cu plus 18m @ 237 g/t Ag) in order to test the eastern extension of the deposit in this area. The hole intersected a wide zone of low-grade mineralization consistent with the overall mineralized envelope, but failed to extend the high-grade gold/silver zone into this area. VRC89 was collared 170 metres to the north of the resource block model and intersected strong mineralization confirming extension of the deposit to this location and leaving it open to the north. This hole intersected the mineralized zone 200 metres to the north east of the closest previous hole, VRC77 (2013/2014 season: 14m @ 110 g/t Ag). VRC90 and VRC94 were drilled to test a high-resistivity zone identified by the induced polarization (IP) geophysical survey. The geophysical signature is consistent with a possible silicified breccia source however the holes encountered rhyolite volcanics with only weak mineralization interpreted to be peripheral to the porphyry zone. VRC93 was a large step out to the north targeted on an area of intense alunite alteration and surface hydrothermal brecciation. The hole intersected strong silica and alunite alteration with sections of gold, copper and silver mineralization indicating that the mineralized zone continues much further north than previously recognized. Mineralization included the silver zone, with 4 metres at 96.5 g/t silver, which potentially extends this zone 1,700 metres north of VRC89 although additional drilling is required to establish continuity. Projection of the zone between these two holes suggests that the holes which were drilled in between the two (VRC91, 92 and 95) may have not been drilled deep enough to intersect it. Holes VRC91, 92, 95 and 96 were drilled to the north and northwest of the resource area, between holes VRC89 and VRC93. These widely-spaced holes were designed to explore an area with strong brecciation and quartz-alunite alteration identified by surface mapping over approximately 700 metres NS by 1,000 metres EW. The holes intersected strong silica and alunite alteration with sporadic copper +/- gold mineralization extending the alteration and mineralization several hundred metres to the north of the deposit area.

NGEx Resources Inc., Annual General Meeting, Jun 11, 2015

NGEx Resources Inc., Annual General Meeting, Jun 11, 2015., at 10:00 Pacific Standard Time. Location: Suite 2000, 885 West Georgia Street. Agenda: To receive the audited consolidated financial statements of the corporation for the year ended December 31, 2014, together with the report of the auditors thereon; to fix the number of directors at five (5); to elect directors of the corporation for the ensuing year; to appoint the auditor of the corporation for the ensuing year, and to authorize the directors to fix the remuneration to be paid to the auditor; and to transact such further and other business as may properly be brought before the Meeting or any adjournment or adjournments thereof.


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