Amex Gold Mining Dips as Gold Pullback Tests Perron Project Momentum

Amex Gold Mining Inc. (TSXV:AMX) saw a 4.35% drop in its stock price on Monday, October 5, 2026, following a recent 3.76% gain. The decline mirrored broader volatility in junior gold stocks, driven by a pullback in gold prices. Spot gold was trading near $4,150 per ounce, down about 5% from a month earlier, influenced by a strong U.S. dollar and higher Treasury yields.

The company has made significant progress at its Perron Gold Project, including completing portal construction and advancing the underground decline over 75 metres. In September, Amex announced a new gold discovery, the Rosé Zone, located 165 metres below its ramp development. The Perron Phase 1 Feasibility Study, released in April 2026, highlighted a robust project with a payback period of less than a year at $2,500 gold. The company also closed an C$80 million share placement to fund development.

Investors are watching key milestones, including continued underground progress, power line installation, and follow-up drilling at the Rosé Zone. Risks include gold price volatility, construction costs, and permitting challenges. Despite the recent dip, Amex remains one of the more advanced high-grade gold projects in Quebec, with strong exploration potential and industry support from shareholders like Eldorado Gold.