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.

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