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Globex Mining Ent ( (TSE:GMX) ) just unveiled an update.
Globex Mining Enterprises Inc. announced that Antimony Resources Corp. has commenced the second phase of drilling at Globex’s Bald Hill Antimony Property in New Brunswick. The new drilling program aims to complete a total of 6,000 meters and has already discovered a second mineralized zone southeast of the Main Zone. The exploration will focus on infilling and extending the Main Zone mineralization, as well as investigating a two-kilometer-long antimony soil anomaly. The results of the first phase of drilling showed high-grade antimony intersections, which are promising for the creation of a Maiden Resource. Globex is pleased with the progress and dedication shown by Antimony Resources in advancing the project.
Spark’s Take on TSE:GMX Stock
According to Spark, TipRanks’ AI Analyst, TSE:GMX is a Neutral.
Globex Mining Ent’s overall score reflects a mixed outlook. Strengths include a debt-free balance sheet and positive corporate developments in resource expansion. However, the high valuation and technical indicators suggest caution. Financial volatility remains a significant risk.
To see Spark’s full report on TSE:GMX stock, click here.
More about Globex Mining Ent
Globex Mining Enterprises Inc. is a mining company based in Rouyn-Noranda, Quebec, Canada. It is involved in the exploration and development of mineral properties, with a focus on antimony resources. The company is listed on multiple stock exchanges, including the Toronto Stock Exchange and OTCQX International in the US.
Average Trading Volume: 34,036
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$83.02M
For an in-depth examination of GMX stock, go to TipRanks’ Overview page.