QMX Gold

What QMX Gold does

QMX Gold Corporation is a Canadian gold mining company headquartered in Val d'Or, Quebec, with operations spanning two primary jurisdictions: Quebec and Manitoba. The company operates the Lac Herbin Mine in Quebec's Abitibi region and acquired the Snow Lake Mine (formerly New Britannia Mine) in Manitoba in 2012, marking its evolution from a single-asset producer to a multi-mine, multi-jurisdiction gold producer. The company was founded in 1988 as First Discovery Holdings Inc., went through multiple name changes, operated as Alexis Minerals Corporation, and rebranded to QMX Gold in June 2012.

The company's business model centers on gold extraction from underground mining operations, with production sold into commodity markets. In Q1 2012, the company produced approximately 5,500 ounces of gold, selling 5,043 ounces at an average operating cost of $1,538 per ounce. QMX Gold holds substantial mineral reserves totaling 516,980 ounces (proven + probable) and resources of 1,384,170 ounces (measured + indicated + inferred), supported by land positions exceeding 1,000 square kilometers across Quebec and Manitoba mining districts. The company utilizes Gocad 3D geological modeling software for resource estimation and exploration planning.

QMX Gold is publicly traded on the Toronto Stock Exchange (TSX: AMC) and OTCQX (AXSMF), with 591.8 million shares outstanding and 714.4 million shares fully diluted. The company has pursued an aggressive growth strategy through acquisitions (Garson Gold Corp/Snow Lake Mine in 2010, Xstrata Copper properties in 2011), significant capital raises ($55+ million in 2012 alone), and leadership transition with François Perron assuming the CEO role. Quebec's ranking as the #1 global mining jurisdiction by the Fraser Institute provides a favorable regulatory and operational environment for the company's primary operations.

Name

QMX Gold

Legal name

Alexis Minerals Corp.

Website

https://alexisminerals.com

Company type

Public

Founded year

1988

Operating status

Operating

Headcount range

1–10 employees

Short description

QMX Gold Corporation is a Canadian gold mining company operating the Lac Herbin Mine in Quebec and Snow Lake Mine in Manitoba. The company produces and sells gold into commodity markets, holding 516,980 ounces in reserves and managing over 1,000 square kilometers of mining claims across Canadian jurisdictions.

Ownership category

akta.pro rank

Product category

Gold Mining

NAICS

Gold Ore and Silver Ore Mining (212220), Copper, Nickel, Lead, and Zinc Mining (212230)

SIC

Gold And Silver Ores (1040)

akta.pro primary industry

Gold Mining (IMAKAEAA)

akta.pro secondary industry

Silver Mining (IMAKAEAB)

Keywords

• Gold mining production
• Mineral exploration services
• Underground gold extraction
• Precious metals development
• Mining property exploration

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Technology or R&D, Supply Chain, Infrastructure

Revenue model

1. Gold Production Sales: Gold production is the sole source of operating income for the Company. There is a global market into which QMX can sell any gold produced, and as a result, the Company is not dependent on a particular purchaser with regard to the sale of any gold that it produces.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

QMX Gold Corporation is a Canadian mineral exploration and gold mining company that produces gold from underground operations at the Lac Herbin Mine in Val-d'Or, Quebec and is ramping up production at the Snow Lake Mine in Manitoba. The company also conducts gold and base-metal exploration across more than 200 sq. km of properties in the Abitibi District of Northern Quebec, including the Val d'Or and Rouyn-Noranda mining camps. Gold production is the company's sole source of operating income, with output sold into a global commodity market.

Product overview

QMX Gold Corporation is a Canadian-based mineral exploration and development mining company operating gold mines and exploration properties. The company operates two producing gold mines: the Lac Herbin Mine in Val-d'Or, Quebec (the primary producing asset) and the Snow Lake Mine in Manitoba (ramping up to mid-tier production). It also holds the Lac Pelletier gold property and conducts exploration through projects including West Ansil (VMS copper-gold), Val d'Or exploration properties (212+ km² land position with 100% ownership), and Rouyn-Noranda exploration properties (786 km², covering 75% of the Central Mining Camp). Gold production is the company's sole source of operating income. The portfolio spans Canada's richest mining regions in the Abitibi District of Quebec and Snow Lake District of Manitoba.

Differentiator

Problem solved

Functional benefit

Products and services

• Lac Herbin Mine An underground gold mine located about 10 km northeast of Val-d'Or, Quebec, producing gold from the Aurbel-Lac Herbin group of properties and serving as the company's primary producing asset.
• Snow Lake Mine A gold mine in west-central Manitoba, located within the Snow Lake community, ramping up to mid-tier production levels under QMX operations.
• Lac Pelletier Gold Property A gold exploration and potential mining property located in Rouyn and Beauchastel townships, southwest of Rouyn-Noranda, Quebec, covering 722.6 hectares and held under an option agreement with Thundermin Resources Inc.
• West Ansil Project A VMS (volcanogenic massive sulphide) copper-gold exploration project located approximately 15 km northwest of Rouyn-Noranda, Quebec, with indicated and inferred resources and exploration targets generated using Gocad 3D geological modeling.
• Val d'Or Exploration Properties Exploration properties in the Val d'Or Camp covering more than 212 km² with 100% ownership, hosting eight past-producing gold and base metal mines, representing the largest land position in the region.
• Rouyn-Noranda Exploration Properties

Quantifiable outcome

• QMX achieved first quarter 2012 operating costs of $1,538 per ounce on sale of 5,043 ounces of gold
• +1 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Nine partnerships are on record, tiered core and minor.

• Xstrata CoppercoreStrategic or Co-development Partner · 3 August 2011Alexis/QMX entered into a landmark agreement in April 2011 to purchase 100% ownership of properties held with Xtrata Copper (originally signed in 2004). This agreement closed on August 3, 2011, providing QMX with full ownership of exploration properties.
• Garson Gold CorporationcoreStrategic or Co-development Partner · 29 April 2010Alexis/QMX acquired all remaining outstanding shares of Garson Gold Corporation under a plan of arrangement, completed on April 29, 2010. The New Britannia Mine was renamed the Snow Lake Mine as part of this acquisition. Over 90% of Garson Gold shares were acquired by January 15, 2010.
• Thundermin Resources Inc.coreStrategic or Co-development PartnerThundermin Resources Inc. is the registered holder of claims and mining concessions comprising the Lac Pelletier Property. Alexis/QMX holds an option to acquire a 100% undivided interest in the Lac Pelletier gold property in consideration of a cash payment of $75,000 and the issue of 100,000 shares. The property is subject to a 2.5% net smelter royalty (NSR) payable to Thundermin.
• Falconbridge LimitedcoreStrategic or Co-development PartnerFalconbridge Limited owns 100% of the properties under agreement with Inmet Mining Corporation for the West Ansil project. Alexis/QMX has held an option on these properties since May 2004. The Lac Pelletier property is subject to a 1% NSR payable to Falconbridge Limited. Properties at West Ansil are owned 100% by Falconbridge.
• Inmet Mining CorporationcoreStrategic or Co-development PartnerInmet Mining Corporation has properties under agreement that are owned 100% by Falconbridge Limited and are part of a group of properties under Option by Alexis Minerals Corporation since May 2004. The West Ansil project properties fall under this agreement.
• Kinross Gold CorporationminorStrategic or Co-development PartnerKinross Gold Corporation and High River Gold Mines Ltd. conducted further environmental reclamation on the Snow Lake property since the mine was placed on care and maintenance. Kinross and High River were previous operators of the New Britannia Mine (now Snow Lake Mine).
• High River Gold Mines Ltd.minorStrategic or Co-development PartnerHigh River Gold Mines Ltd. (now part of Kinross) and TVX Gold Inc. formed a joint venture on a 50:50 basis in 1994 and reopened the mine as the New Britannia Mine in November 1995. High River reported mineral resources in their 2004 and 2005 Annual Reports.
• SOQUEMminorStrategic or Co-development PartnerFrom 1999 to 2002, SOQUEM carried out assessment work on the Lac Pelletier property, including relogging core from 62 historic drill holes (14,826 metres), drilling 12 new holes totaling 3,294 metres and targeting zone extensions east of the ramp, as well as trenching and sampling in zone E.
• Renmark Financial Communications Inc.minorChannel Partner/ Reseller/ DistributorAlexis/QMX is a member of Renmark Financial Communications for investor relations services. Contact details provided for Montreal and Toronto offices for investor relations questions.

Scale indicators11 records

Recent moves13 records

Expansion highlights5 records

Broad incumbents

• Kinross Gold: Major Canadian gold producer and previous operator of the New Britannia Mine (now QMX's Snow Lake Mine) via the High River Gold joint venture. Comparable as a major gold producer with prior operational involvement in QMX's flagship asset.
• Barrick Gold: World's largest gold mining company and a major QMX stakeholder as the holder of 36% combined NPI on the Snow Lake Mine. Comparable as a major Canadian gold producer with Quebec presence and broader portfolio including copper.

Direct peers

• Yamana Gold: Canadian mid-tier gold producer with operations across the Americas (now part of Pan American Silver). Comparable as a Canadian-listed gold producer with similar mid-tier production scale and portfolio diversification strategy.
• IAMGOLD: Canadian mid-tier gold producer with major operations in Quebec (Westwood, Mouska) and West Africa. Comparable in geographic focus on Quebec gold mining and similar production scale profile to QMX's operating profile.
• Eldorado Gold: Canadian mid-tier gold producer with operations in Turkey, Greece, and Canada. Notably invested $4M in QMX in December 2019, signaling direct strategic interest and comparable as a mid-tier gold producer with similar exploration-to-production pipeline.
• Belo Sun Mining: Canadian gold development company focused on the Volta Grande gold project in Brazil, led by President and CEO Mark Eaton who also serves as a QMX director. Comparable mid-tier gold development profile and Canadian corporate structure.
• Agnico Eagle Mines: Major Canadian gold producer with extensive operations in the Abitibi/Quebec region, including LaRonde, Goldex, and Canadian Malartic. Directly comparable as a Quebec-focused gold miner with multi-decade reserve base and similar tier-1 jurisdiction exposure.
• Alamos Gold: Canadian mid-tier gold producer with operations in Ontario, Quebec (Young-Davidson), and Mexico. Comparable as a Canadian gold producer with significant Quebec operational footprint and similar mid-tier production scale.
• Osisko Mining: Quebec-focused gold exploration and development company, owner of the Windfall Lake gold project in the Abitibi District. Comparable as a Quebec gold developer with similar exploration-stage and development-stage asset profile to QMX's Rouyn-Noranda and Val d'Or properties.
• Crocodile Gold: Canadian mid-tier gold producer with operations in northern Australia and previously in Canada. Closely connected to QMX through director Chantal Lavoie (President, CEO and Chairman of Crocodile Gold). Comparable mid-tier gold production profile and Canadian corporate base.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/QMX_Gold
• LinkedInlinkedin.com/company/qmx-gold-corp-

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds4 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about QMX Gold