21:50:40 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



Globex Mining Enterprises Inc
Symbol GMX
Shares Issued 41,243,755
Close 2014-08-27 C$ 0.275
Market Cap C$ 11,342,033
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Lundin refreshes Globex Mining buy

2014-08-27 21:10 ET - In the News

Brien Lundin, in the August, 2014, edition of the Gold Newsletter, refreshes his buy of Globex Mining Corp., recently 22 cents. Mr. Lundin said buy Globex in September, 2013, at 56 cents and again in March, 2014, at 30 cents. Assuming a $1,000 investment for each of the two buys, the $2,000 position is now worth $1,125. The company recently received good news that test results came back negative for asbestos on the samples from the company's Timmins talc magnesite project in Ontario. Mr. Lundin says the clean bill of health for the talc mineralization at Timmins means that any minerals generated by this project would meet international standards for asbestos content. In Kentucky, the company owns a royalty on the Mid-Tennessee mine operated by Nyrstar NV. Mr. Lundin says the recent uptick in zinc prices has increased the value of the royalty, and Globex now receives between $85,000 and $90,000 each month. It plans to spend that money on drilling programs at its Poirier mine, the Champdore project the Tiblemont-Tavernier project, all in Quebec. Mr. Lundin tells his readers that Globex is a top-drawer prospect generator with more than 100 projects. He concludes it is attractively valued at current levels and remains a buy.

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