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Globex Mining Ent ( (TSE:GMX) ) has issued an update.
Globex Mining Enterprises reported final assay results from a six-hole, 1,095-metre drill program at the East O’Neil gold occurrence on its 100%-owned Rouyn-Merger property in Quebec, adjacent to the Cadillac Break. The campaign delivered several strong gold intersections, notably 3.44 g/t Au over 38.7 metres and 3.47 g/t Au over 26.4 metres from previously released holes RM-25-01 and RM-25-02, and new results including 2.74 g/t Au over 9.0 metres in RM-25-03 and a high-grade interval of 13.06 g/t Au over 4.7 metres in RM-25-05, while two holes returned no significant values. Incorporating historical drilling data that also shows notable gold intervals, Globex interprets mineralization as silicified, pyrite-rich zones within tuff and gabbro units, and, encouraged by the positive first-phase results, the company plans detailed induced polarization and magnetometer surveys followed by additional drilling, signalling continued investment in advancing Rouyn-Merger’s exploration potential.
The most recent analyst rating on (TSE:GMX) stock is a Hold with a C$2.00 price target. To see the full list of analyst forecasts on Globex Mining Ent stock, see the TSE:GMX Stock Forecast page.
Spark’s Take on TSE:GMX Stock
According to Spark, TipRanks’ AI Analyst, TSE:GMX is a Neutral.
The score is driven primarily by financials: a very conservative, low-debt balance sheet is a major positive, but it is offset by negative TTM operating and free cash flow and uneven profitability (negative EBIT). Technically, the stock’s uptrend (price above key moving averages) provides support, while valuation appears moderate with a ~19 P/E and no dividend yield data.
To see Spark’s full report on TSE:GMX stock, click here.
More about Globex Mining Ent
Globex Mining Enterprises Inc. is a Toronto-listed mineral exploration and royalty company focused on North American assets, with a portfolio of 100%-owned properties including the Rouyn-Merger gold project east of Rouyn-Noranda, Quebec. The company explores for gold and other metals, leveraging drilling and geophysical programs to advance projects along key structural features such as the Cadillac Break, a prolific gold-bearing fault zone in the Abitibi region.
Average Trading Volume: 47,373
Technical Sentiment Signal: Buy
Current Market Cap: C$122.8M
For detailed information about GMX stock, go to TipRanks’ Stock Analysis page.