ASX Round-Up: Spotlight on ABM Resources and Amex Resources

For investors focused on the resource space, a good way to track companies listed in Australia is to look at the S&P/ASX 300 (INDEXASX:XKO). The index includes all S&P/ASX 200 (INDEXASX:XJO) companies as well as about 100 smaller-cap companies, and as of April 2015 accounted for 74 percent of the Australian equities market. Specifically, the S&P/ASX 300 Metal & Mining (INDEXASX:XMM) division is a great source for companies to watch.

Resource Investing News is thus profiling companies on the S&P/ASX 300 Metal & Mining index. This week, we take a look at ABM Resources (ASX:ABU) and Amex Resources (ASX:AXZ).

ABM Resources is an exploration company that’s focused on developing several gold discoveries in Australia’s Northern Territory. The company holds a combination of high-grade, potentially short-term production scenarios such as its Old Pirate gold deposit, large-scale discoveries like its Buccaneer project and regional exploration discoveries such as its Hyperion gold project.

On May 15, the company released an update on Old Pirate. It reveals several new high-grade, gold-bearing quartz veins. According to the company, these veins contain visible gold and are likely extensions to previously known high-grade veins in the Old Pirate South area.

Amex Resources is an Australia-based iron ore development company that’s focused on the Mba Delta project in Fiji. The project covers an area of approximately 132 square kilometers and Amex holds a 21-year lease on it. The development of Mba Delta is well advanced, and the project has an indicated JORC​ resource of 220 million tonnes at 10.9 percent iron.

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