AQX

About AQX

Alice Queen Limited (AQX, formerly Callabonna Resources Ltd) is into mineral exploration and the development of its projects at Horn Island, Queensland and in New South Wales.

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What does Alice Queen Limited do?

Alice Queen Limited is an Australian mineral exploration and development company with a portfolio of gold and copper projects in Queensland, New South Wales, and Fiji.

The company’s Horn Island project is located 17 kilometres off Queensland’s coast in the Torres Strait, south of Papua New Guinea. Alice Queen has determined the island hosts an Inferred Resource (JORC 2012) 7.9Mt @ 1.9g/t Au for 492,000oz from 18,000m diamond drilling. It also shows prospectivity for short-term gold production.

In New South Wales, Alice Queen is exploring large-scale porphyry copper-gold targets at three projects in Yarindury, Mendooran and Boda East. These projects are located along the northern section of the highly prospective Molong Volcanic Belt, home to the Newcrest Cadia mine complex.

In Fiji, Alice Queen has acquired two prospective Fiji Special Prospecting Licences (SPLs), Nabila and Viani, via the acquisition of Viti Mining in March 2021. The Nabila licence provides access to Faddy’s gold deposit and the historic Mistry Mine. The Viani licence provides access to six previously completed shallow diamond drill holes at Vanua Levu, Fiji’s second largest island. Each drill hole has returned positive gold assay intercepts.

Is Alice Queen a profitable company?

No, Alice Queen is not profitable. 

The company earned a small amount of revenue in FY2015 and FY2016 of A$1.2k and A$7.8k, respectively. Since FY2016 the company has recorded zero revenue and since FY2012, the company has recorded net losses.

To continue operations, the company has floated an increasing number of shares each financial year since FY2012 at a compound annual growth rate of 78.12%. In FY2012, Alice Queen’s float was only six million shares. By FY2021, the company’s float had risen to over a billion shares.

Is AQX stock a buy?

Some investors think it is time to buy due to a series of positive announcements recently made by Alice Queen.

On 1 February 2022, the company reported the completion of a Dipole Dipole Induced Polarisation (DDIP) survey at Horn Island. By the end of February, the results of the DDIP revealed the possibility of gold and multiple drill-ready target zones. In March, the company commenced the drilling of a first hole beneath the Southern Silicified Ridge and by April had moved onto a second hole in the same location.

Other investors dismiss Alice Queen’s announcements as entirely speculative and are staying away due to the company’s non-existent earnings. These investors are also wary of the stock’s recent 12-month drop of 58% between April 2021 and April 2022.

Does AQX stock pay dividends?

AQX stock has no history of paying dividends to shareholders. 

In the company’s FY2021 report, the directors recommended against paying dividends. No other announcements regarding dividends have been made since.

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Who owns AQX stock?

At 72.5% of the total float, the majority of AQX stock is held by the general public. The remainder of the float is held by a mix of private companies (12.3%), individual insiders (8.6%), hedge funds (6.3%) and institutions (0.3%).

Some of the largest owners of AQX stock include The Morris Family Trust (7.12%), Datt Capital (6.27%), Alice Queen Managing Director Andrew Thomas Buxton (3.75%), Eleventh Klingon Pty Ltd (1.33%), Altor Capital Management (1.25%) and Kim Khe Tram (1.03%).

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