The Energy Report - AuEx Ventures, Inc. TSX:XAU

>About The Energy Report/Streetwise

>Legal

>Site Index

AuEx Ventures, Inc.

TICKER: TSX:XAU

DESCRIPTION: AuEx Ventures, Inc. ("AuEx") is an advanced-exploration to development stage Nevada-based precious metals company that controls about 176,000 acres of unpatented mining claims and fee land. The company has a current portfolio of 24 exploration projects in Nevada, 7 of which are under exploration earn-in or joint venture agreements; five projects in Argentina, 2 of which are under joint venture agreements; and one project in Spain. AuEx and its partners anticipate expenditures of over $21,000,000 in 2009, which includes planned expenditures on the Long Canyon and West Pequop projects located in Nevada's newest gold district, known as "Pequop."

Highlight: In March 2009, an Initial NI-43-101 Report on Long Canyon announced 363,000 ounces of Au of Indicated Mineralization, and 459,000 ounces of Au of Inferred Mineralization (0.3 g/t cut-off grade). To review the Initial NI-43-101 Report on Long Canyon or learn more about our company and properties that are available for joint venture, please visit: www.auex.com.

WEBSITE: http://www.auex.com
Auex Ventures Shareholders Ratify Adoption Of Shareholder Rights Plan (6/15/09) Auex Ventures, Inc. Closes $11 Million Private Placement (6/16/09) Auex Ventures Announces $11 Million Private Placement (5/14/09)

The information below is based on the most recent information we have received from analysts and the companies participating in The Gold Report. We encourage you to visit the company's web site for updates.

"AuEx Ventures Inc. has signed a new exploration earn-in agreement on the Pasco Canyon project with Christopher James Gold Corporation. Pasco Canyon is located in northern Nye county, Nevada, on the east side of the Toquima Range near the Round Mountain, Gold Hill and Northumberland gold deposits, which are reported by the owners of those projects to have past production plus current resources of about 20 million ounces of total gold.

The prospect shares both structurally setting and epithermal style mineralization with Round Mountain, as it is a gold-bearing low sulphidation system, the upper sections, located on the edge of a circular caldera structure.

Max Baker is an ex-Newcrest geologist with extensive experience in these systems, so the fact that he believes it warrants drilling is positive."
-JOE MAZUMDAR, HAYWOOD SECURITIES (02/17/10)

"AuEx Ventures is a project generator company that has 21 projects in Nevada, one project in Spain that is being funded by Western Uranium (on our energy list), and two in Argentina. The two most advanced projects are the West Pequop and Long Canyon projects. In fact these two projects have advanced to the point where they both have the potential to become world-class gold deposits. That being the case and given its financing capabilities, AuEx has chosen to become joint venture partners, holding a 49% interest in both projects. West Pequop is being funded by joint venture partner Agnico-Eagle, and Long Canyon is being funded by Fronteer Development Group.

On March 4, AuEx released news about the final 2009 drill results and an important new target developing in the core of the mountain from the West Pequop Project. . .

This release reports on the results from the final 23 holes, including holes:

WN195 with 40 feet at 0.061 ounce per ton gold;
WN202 with 40 feet at 0.083 ounce per ton gold;
WN203 with 45 feet at 0.058 ounce per ton gold;
WN205 with 80 feet at 0.043 ounce per ton gold.

Needless to say, these are outstanding numbers. . ."
- J.Taylor's Energy & Energy Tech Stocks (03/05/10)

"AuEx Ventures Inc. is one of our very favorite companies. Drill results since the last resource estimate make it clear that those resources will get much larger, which is part of the reason AuEx is trading at a premium. The main thing, though, is that its flagship project, the Long Canyon joint venture—49% AuEx and 51% Fronteer Development Group—shows almost ideal characteristics for becoming a mine. These are very competent companies, and they are doing a great job of advancing this project."
- The Gold Report Interview with Louis James (02/10/10)

"AuEx Ventures and JV partner Fronteer Development Group (TSX-FRG, not rated) released the remaining infill drill results from the 2009 drill program at the Long Canyon gold project located in Elko County, Nevada. Long Canyon is a joint venture between AuEx (49%) and Fronteer Development Group Inc. (51% and operator).

A total of 238 holes (186 core/ 52 RC) were drilled at Long Canyon during 2009 for a total of 33,152 m. Highlights from the infill drill results released today included the following notable intercepts:

Hole LCM22: 16.76 g/t Au over 6.3 m contained within a broader intercept of 39.6m grading 4.97 g/t Au from a down-hole depth of 26.5m.
Hole LCM30: 3.94 g/t Au over 77.7 m at a down-hole depth of 7.9 m.
Hole LCM33: 3.29 g/t Au over 42.7 m at a down-hole depth of 72.6 m.

. . .The delivery of a PEA for Long Canyon in December 2009 benchmarks the economic potential offered by the project. The PEA considers the Long Canyon gold project to be developed as an open pit mine with a run-of-mine (ROM) heap leach operation. A six year mine life has been modeled with a total of 565,000 ounces of gold produced at a direct cash cost of US$351/oz (inclusive of US$42.76/oz for G&A and US$11.78/oz for reclamation). Average LOM head grade has been modeled at 2.15 g/t with recoveries between 80% and 88%. Initial project capital costs, are estimated at US$66 million with an additional US$6 million of subsequent sustaining capital."
-CHRIS THOMPSON, HAYWOOD SECURITIES (02/01/10)

"AuEx Ventures was added to the portfolio in December 2008 at ~C$1.28. We sold half the position in November 2009 at ~C$2.82. Our cost basis is now virtually nil and leaves us in a position to profit from this top exploration company's management and properties. XAU is a 'hold' in the portfolio. . .

AuEx's market capitalization is C$104 million (C$142 million fully diluted) and working capital stands at ~C$12 million (in-the-money warrants bring in another C$10 million). They have 21 gold exploration projects in Nevada, three in Argentina and one in Spain. Ten of these are under joint venture agreements in which partners are earning in on XAU's projects. President Ron Parrat anticipates about C$7 million in partner expenditure for 2010 and hopes to have a few more joint ventures signed up over the year. XAU generative costs should be around C$2 million and at least another $10 million will go towards pre-feasibility work at Long Canyon."
- Exploration Insights (01/31/10)

PRINT THIS PAGE EMAIL THIS PAGE