An update from Globex Mining Ent ( (TSE:GMX) ) is now available.
Globex Mining Enterprises Inc. has announced that it has optioned its Bald Hill antimony property in New Brunswick to Big Red Mining Corp. The agreement includes cash payments totaling $2 million and 1.1 million shares to Globex over four years, with a condition that Big Red invests at least $5 million in the property’s development. Globex retains a 3.5% Gross Metal Royalty, with an option for a 1.0% buyback. The Bald Hill property, consisting of 26 claims, has shown promising antimony occurrences, with previous exploration indicating significant potential for future development. This strategic move may enhance Globex’s market positioning and stakeholder value by leveraging the property’s mineral potential through Big Red’s investment.
More about Globex Mining Ent
Globex Mining Enterprises Inc. is a North American mining company listed on several international stock exchanges, including Toronto, Frankfurt, Stuttgart, and the OTCQX in the US. The company focuses on mining operations, with interests in various mineral properties, notably including antimony, a critical mineral used in a variety of industrial applications.
YTD Price Performance: 13.68%
Average Trading Volume: 34,562
Technical Sentiment Consensus Rating: Sell
Current Market Cap: C$74.57M
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