Globex Mining Reports Gain and Tax-Free Earnings
Company Announcements

Globex Mining Reports Gain and Tax-Free Earnings

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 deal, with one more payment to go. Globex retains a 2% Gross Metal Royalty on the sold property and reports a market gain of $1,139,000 from holding shares in Agnico Eagle and Pan American Silver, instead of an immediate sale. The company emphasizes that the funds received are effectively tax-free, as taxes on the total purchase price were prepaid.

For further insights into TSE:GMX stock, check out TipRanks’ Stock Analysis page.

Related Articles
TipRanks Canadian Auto-Generated NewsdeskGlobex Mining Initiates Drilling on Ironwood Gold Deposit
TipRanks Canadian Auto-Generated NewsdeskGlobex Mining to Benefit from Mont Sorcier Project
TipRanks Canadian Auto-Generated NewsdeskGlobex Mining Sees Potential in Duquesne West Drilling
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App