Globex Mining Ent (TSE:GMX) has released an update.
Globex Mining Enterprises Inc. has announced the receipt of a $3 million payment from Agnico Eagle Mines Limited as part of a property sale agreement for its Francoeur/Arntfield/Lac Fortune Gold Mines. The deal includes a 2% Gross Metal Royalty for Globex and has led to an investment gain of $1,139,000 from holding shares in Agnico Eagle and Pan American Silver, pushing the total value of these shares to over $5 million. The company highlights that the received funds are effectively tax-free, having paid taxes upfront on the total $15 million purchase price.
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