Proactiveinvestors USA & Canada Globex Mining https://ca.proactiveinvestors.com Proactiveinvestors USA & Canada Globex Mining RSS feed en Fri, 19 Jul 2019 02:16:24 -0400 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Globex Mining closes C$900K private placement to fund exploration in eastern Canada ]]> https://ca.proactiveinvestors.com/companies/news/223696/globex-mining-closes-c900k-private-placement-to-fund-exploration-in-eastern-canada-223696.html Globex Mining Enterprises Inc (TSE:GMX) announced Wednesday that it closed the first tranche of a C$900,000 in financing to fund exploration at its eastern Canadian projects.

The mining company issued 1.5 million flow-through shares at C$0.40 for non-Quebec subscribers and nearly 670,000 flow-through shares at C$0.45 to subscribers residing in the province.

Rouyn-Noranda-based Globex plans to use the C$900,000 to explore its properties in Quebec, Nova Scotia and Ontario, it said in a release.

READ: Globex Mining says drilling kicks off at Bateman Bay property in Quebec

Post-transaction, Globex will have around 53.5 million shares issued and outstanding. Shares are subject to a four-month holding period.

The company noted that it may hold additional closings for a maximum of 666,666 additional flow-through shares to Quebec subscribers at C$0.45 per share.

CEO Jack Stoch purchased 150,000 flow-through shares for a total of C$60,000 as part of the private placement.

Globex shares slipped 1.3% on Wednesday afternoon at C$0.37.

Globex, a property bank, has 80 gold projects, 57 base metals properties and more than 29 specialty minerals projects for a total of 168 assets.

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

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Wed, 10 Jul 2019 15:35:00 -0400 https://ca.proactiveinvestors.com/companies/news/223696/globex-mining-closes-c900k-private-placement-to-fund-exploration-in-eastern-canada-223696.html
<![CDATA[Media files - Globex Mining stake in Gold Project in Bateman Bay looks promising after Drilling ]]> https://ca.proactiveinvestors.com/companies/stocktube/13820/globex-mining-stake-in-gold-project-in-bateman-bay-looks-promising-after-drilling-13820.html Thu, 20 Jun 2019 11:38:00 -0400 https://ca.proactiveinvestors.com/companies/stocktube/13820/globex-mining-stake-in-gold-project-in-bateman-bay-looks-promising-after-drilling-13820.html <![CDATA[News - Globex Mining says drilling kicks off at Bateman Bay property in Quebec ]]> https://ca.proactiveinvestors.com/companies/news/222438/globex-mining-says-drilling-kicks-off-at-bateman-bay-property-in-quebec-222438.html Globex Mining Enterprises Inc (TSE:GMX) (OTCMKTS:GLBXF) and Chibougamau Independent Mines Inc (CVE:CBG) released promising news Wednesday announcing Chibougamau Independent Mines has received its drill permit for the C-3 copper/gold zone in Quebec. 

Drilling has kicked off at the property, and Chibougamau is planning around 3,400 metres of drilling at the wholly owned C-3 copper/gold zone in Quebec.

C-3 is part of the Bateman Bay property. Globex, an exploration, royalty and property bank, holds a 3% Gross Metal Royalty (GMR) on the Bateman Bay and Grandroy Mine properties. Its assets include over 40 former mines.

READ: Globex Mining Enterprises shares nudge up as more drilling is expected at Quebec property

The other month, Chibougamau announced intersections from two holes, which showed 4.33% copper, 3.69 g/t gold and 19.62 g/t silver, over a 22 metre core length.

The other hit 7.70% copper, 3.58 g/t gold and 33.25 g/t silver, over a 9.2 metre core length.

Combined with previous Chibougamau drilling, the C-3 Zone has been intersected from surface to a  depth of 450 metres.

Globex Mining shares added nearly 3% today in Toronto  to $0.37.

Contact Katie Lewis at katie@proactiveinvestors.com

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Wed, 19 Jun 2019 11:19:00 -0400 https://ca.proactiveinvestors.com/companies/news/222438/globex-mining-says-drilling-kicks-off-at-bateman-bay-property-in-quebec-222438.html
<![CDATA[News - Globex Mining Enterprises shares nudge up as more drilling is expected at Quebec property ]]> https://ca.proactiveinvestors.com/companies/news/221810/globex-mining-enterprises-shares-nudge-up-as-more-drilling-is-expected-at-quebec-property-221810.html Shares in Globex Mining Enterprises Inc (TSE:GMX) (OTCMKTS:GLBXF) nudged higher in Toronto as Chibougamau Independent Mines Inc (CVE:CBG) revealed it would undertake at least 3,400 metres of drilling at the 100% owned C-3 copper/gold zone in Quebec.

C-3 is part of the Bateman Bay property. Globex, an exploration, royalty and property bank, holds a 3% Gross Metal Royalty (GMR) on the Bateman Bay and Grandroy Mine properties.

READ: Globex Mining shares rise on new drill results from Quebec property

"The new drill program should start within the next two weeks once the final permit is received," said Chibougamau Independent Mines in a statement Monday.

The eight holes are planned to test the zone along strike to both the southeast and northwest and, depending upon results, to greater depth.

Last month, Chibougamau  announced  intersections from two holes, which showed 4.33% Copper, 3.69 g/t gold and 19.62 g/t silver, over a 22 metre core length.

The other hit 7.70% Copper, 3.58 g/t Gold and 33.25 g/t Silver, over a 9.2 metre core length.

Combined with previous Chibougamau drilling, the C-3 Zone has been intersected from surface to a  depth of 450 metres.

Globex Mining shares added nearly 3% today in Toronto  to $0.37.

Contact Giles at giles@proactiveinvestors.com

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Mon, 10 Jun 2019 11:44:00 -0400 https://ca.proactiveinvestors.com/companies/news/221810/globex-mining-enterprises-shares-nudge-up-as-more-drilling-is-expected-at-quebec-property-221810.html
<![CDATA[News - Globex Mining reports drill results from Francoeur/Arntfield property ]]> https://ca.proactiveinvestors.com/companies/news/220947/globex-mining-reports-drill-results-from-francoeurarntfield-property-220947.html Globex Mining Enterprises Inc (TSE:GMX) (OTCMKTS:GLBXF) has reported drill results from the Francoeur/Arntfield property in Quebec, where it as following up on anomalies identified by surveying.

The firm drilled eight mainly shallow holes in March this year to follow up on anomalies south of the Francoeur-Wasa fault, the group said.

READ: Globex Mining shares rise on new drill results from Quebec property

It added that while gold was encountered in many of the holes, the grades and intersections were disappointing. A highlight intersection was  3.33 g/t (grams per ton) of gold over 1.50 metres.

No holes were drilled under the 450 Gold Zone area, the firm noted, where channel sampling had returned 7.04 g/t gold over 9.5 m (meters).

Two holes were sunk  through the south and Francoeur-Wasa Shears. One hit 2.10 g/t gold over 1.5 m and another hit 2.45 g/t of the yellow metal over 3 m.

"While disappointed in finding that the induced polarization anomalies did not demonstrate high grade gold values, we are now able to focus on identifying and testing the control structures of the mineralization which may be northeast trending cross-cutting structures inside the main east west shears," the company said in Friday's statement.

Contact Giles@ giles@proactiveinvestors.com

Follow him on Twitter@Gile74

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Fri, 24 May 2019 10:32:00 -0400 https://ca.proactiveinvestors.com/companies/news/220947/globex-mining-reports-drill-results-from-francoeurarntfield-property-220947.html
<![CDATA[News - Globex Mining shares rise on new drill results from Quebec property ]]> https://ca.proactiveinvestors.com/companies/news/218900/globex-mining-shares-rise-on-new-drill-results-from-quebec-property-218900.html Globex Mining Enterprises Inc (TSE:GMX) (OTCMKTS:GLBXF) jumped nearly 7% on Monday after the junior miner and its partner Chibougamau Independent Mines Inc (CVE:CBG) (OTCMKTS:CMAUF) released positive drill results from the Bateman Bay property, located in Quebec. 

Shares of Globex rose 6.9% to sit at C$0.39 on the Toronto Stock Exchange, while shares on the OTCQX were trading at US $0.26.

Drilling at the C-3 zone on the Bateman Bay property, 100% owned by Chibougamau Independent Mines, intersected wide high grade zones of copper and gold mineralization, Globex said in a statement.

READ: Globex Mining shares nudge higher as it updates on exploration with Chibougamau Independent Mines

The companies are “extremely pleased” with the results of drilling to date on the C-3 Zone, they said in a statement. The C-3 zone has shown to extend from around surface level to a depth of 450 metres and is open in all directions, according to Globex.

The Quebec-based company also said that it was particularly pleased with the gold content, which in certain areas reached nearly 37 grams per ton gold over 0.62 metres.

The junior miner also analyzed the results for cobalt and found cobalt grades of around 0.03% in one area. More work needs to be done to determine whether cobalt could be a potential byproduct, Globex said.

Bateman Bay is located in McKenzie township in the province of Quebec. Globex Mining Enterprises Inc. holds a 3% gross metal royalty on the property and most of the other Chibougamau assets as a result of the spin out of Chibougamau to Globex shareholders. 

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

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Mon, 22 Apr 2019 13:41:00 -0400 https://ca.proactiveinvestors.com/companies/news/218900/globex-mining-shares-rise-on-new-drill-results-from-quebec-property-218900.html
<![CDATA[News - Globex Mining shares nudge higher as it updates on exploration with Chibougamau Independent Mines ]]> https://ca.proactiveinvestors.com/companies/news/218001/globex-mining-shares-nudge-higher-as-it-updates-on-exploration-with--chibougamau-independent-mines-218001.html Shares in Globex Mining Enterprises Inc (TSE:GMX) (OTCMKTS:GLBXF) nudged higher in Toronto as it and Chibougamau Independent Mines Inc (CVE:CBG) updated on encouraging exploration on its Bateman Bay and Grandroy Mine properties in Quebec.

Globex, an exploration, royalty and property bank, holds a 3% Gross Metal Royalty (GMR) on both properties.

READ: Globex Mining updates on German silver property, where it has received initial survey results

Recently, Chibougamau’s completed two drill holes in a bid to extend what's called the C-3 zone at the Bateman property along strike and to depth.  A step-out hole has also been completed.

These drill holes have now shown that the C-3 zone extends from surface to at least a vertical depth of 450 m (meters) (1,476 ft) and is open in all directions, the companies reported.

"Two drill holes were also completed on the Grandroy Mine copper/gold property following up on a projected control structure. Both holes, drilled to undercut the old open pit, intersected pyrite mineralization with visually minor chalcopyrite.  The core has been logged and split and will be sent for assay," the statement read.

"We are particularly pleased with the results to date on the C-3 zone which seems to be demonstrating potential for size," the statement also revealed.

Globex Mining shares added 1.54% to $0.33 in Toronto.

Chibougamau Independent Mines Inc (CVE:CBG)  shares surged over 18% to $0.065.

Contact Giles at giles@proactiveinvestors.com

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Thu, 04 Apr 2019 14:31:00 -0400 https://ca.proactiveinvestors.com/companies/news/218001/globex-mining-shares-nudge-higher-as-it-updates-on-exploration-with--chibougamau-independent-mines-218001.html
<![CDATA[Media files - Globex Mining Enterprises starts work on a very unique project called Braunsdorf ]]> https://ca.proactiveinvestors.com/companies/stocktube/12859/globex-mining-enterprises-starts-work-on-a-very-unique-project-called-braunsdorf-12859.html Wed, 03 Apr 2019 16:10:00 -0400 https://ca.proactiveinvestors.com/companies/stocktube/12859/globex-mining-enterprises-starts-work-on-a-very-unique-project-called-braunsdorf-12859.html <![CDATA[News - Globex Mining updates on German silver property, where it has received initial survey results ]]> https://ca.proactiveinvestors.com/companies/news/217902/globex-mining-updates-on-german-silver-property-where-it-has-received-initial-survey-results-217902.html Globex Mining Enterprises Inc (TSE:GMX) (OTCMKTS:GLBXF) told investors it had received initial magnetometer survey results from the Bräunsdorf area on its silver property in Saxony, Germany.

The area surveyed covers a grid around  6.5km long by 1 km wide covering the principal Neue Hoffnung Gottes (NHG) vein system including the Siegfried and Neue Hoffnung Gottes shaft areas and adjoining land to the northwest.

READ THE DEEP DIVE: Mineral property bank Globex Mining eyes further growth with its diversified, low-risk model

The work outlined a series of three parallel northeast-southwest trending, linear magnetic high anomalies.

The NHG vein system seems to be parallel to the southeastern most of these magnetic anomalies within an area of magnetic low, the company said. The other linear anomalies suggest corresponding linear, parallel magnetic lows similar to the one near the NHG silver vein system border.

The firm is awaiting final magnetometer data as well as completion of magnetometer surveys on other silver target areas as well as results from a number of induced polarization (IP) survey lines which should be started shortly. Soil sample surveys will also begin shortly in select areas.

Globex is an exploration, royalty and property bank and has 168 assets.

Shares were unchanged in Toronto at $0.325.

Contact Giles at giles@proactiveinvestors.com

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Wed, 03 Apr 2019 14:20:00 -0400 https://ca.proactiveinvestors.com/companies/news/217902/globex-mining-updates-on-german-silver-property-where-it-has-received-initial-survey-results-217902.html
<![CDATA[News - Mineral property bank Globex Mining eyes further growth with its diversified, low-risk model ]]> https://ca.proactiveinvestors.com/companies/news/217461/mineral-property-bank-globex-mining-eyes-further-growth-with-its-diversified-low-risk-model-217461.html That well-worn piece of investor advice, which recommends not putting "all your eggs in one basket" could have been written specifically for Globex Mining Enterprises Inc (TSX: GMX) (OTCMKTS:GLBXF) (G1MN-Frankfurt).

This interesting small-cap is described as an exploration, royalty and property bank and boasts no less than 168 assets. It owns all of them (along with all the company's equipment and office space), has around $4 million in the bank, monthly revenue and no debt.

When it is suggested to Jack Stoch, president and CEO, that the company spreads itself too thinly he says: "That's what I'm trying to do!". He also says the company owns assets that span "half the period table".

Huge portfolio

Indeed, the Globex portfolio features the whole gambit of commodities from precious metals like gold and silver, to base metals like zinc. It is also home to specialty minerals projects.

The firm has 80 gold projects, 57 base metals properties and more than 29 specialty minerals projects, such as in bismuth, antimony, vanadium, feldspar and scandium, talc, magnesium oxide, titanium.

Globex makes its money in various ways. The main one is optioning out its projects, many of which have historical resources or clearly identified targets, to other junior mining firms, which pay Globex cash, shares, and royalties on production, and carry out exploration to earn their interests.

If they go all the way and earn 100% of a property, they then provide Globex with what's called a gross metal royalty (GMR), a concept invented by the firm, which sees an actual percentage (for example 3%) of the physical metal produced at the project go to Globex.

The firm has 53 royalties. These are payments to be made by firms from production at projects. One of Globex's assets, which has a royalty on, is now in production, namely the Mid-Tennessee zine mine owned by Nyrstar, which pays Globex a monthly amount.

Stoch says two more projects, where he has a royalty, are projected to be coming into production in the next couple of years.

Globex is also a buyer and seller of properties. It may also hold onto them, sometimes for years, hence the 'bank' title, until they become desirable, or the market turns.

An example of this would be its cobalt assets, which has seen a resurgence of interest due to its use in batteries and electric vehicles or vanadium, which is used to make alloys and in construction.

"As long as there are technological advances like we are seeing now, all sorts of things that weren't in huge demand before, all of a sudden the market is looking around for them," he says.

Increasing asset base

Indeed, Stoch says buying up or staking assets has been the group's main tactic over the last half-decade or so because so many of them have been undervalued due to the depressed climate in the commodities market.

That tide is now turning he projects, as money returns to the market and companies (and investors) are once again looking to invest in quality properties.

"I have properties I've held for ten years, waiting for market conditions to change, some for a month," he said, highlighting a potassium feldspar property (with a historical non Ni 43-101 compliant resource of over 30M tonnes) he picked up by staking for a nominal amount. Potassic feldspar is used in tempered glass and two of the larger mines in the US closed as they ran out of ore and it is now being imported from Europe.

He sold the property very quickly soon after to another junior for US$100,000 and several million shares and a 2.5% GMR. That's quite a good mark-up.

Of course, some projects work out better than others. "This is a high-risk business but with the large number of projects we have, some of them are going to make it and we're not putting in the high-risk dollars," says Stoch, pointing out that the risk is balanced as Globex is not spending much of its own money on exploration in comparison to what optioning partners spend.

That said, the company does sometimes explore its own projects too. For example, it is drilling nine holes at the Francoeur-Arntfield gold project in Quebec, where it has come up with a new geological model. If successful in this, Stoch reckons the property will be optioned out.

It is also surveying on the ground miles away from its usual haunts in the US and Canada at a silver project in Saxony, Germany -- an area which has been mined sporadically for 750 years but has never had modern exploration or mining techniques brought to it. Previous pick and shovel mining over the 750 year period produced about $500 million in today’s dollars of silver.

It hopes to potentially kick off drilling at the property at some point, and with about $4 million in the bank in cash and shares, it has plenty of firepower to do so.

Globex is no newcomer to the mining scene. Back in 1987, Stoch said it was a shell company and he was reported to be the largest private mineral rights holder in the province of Quebec. A broker then convinced him of the merits of taking the company public.

Back then, the firm held just one property but since Stoch has just been gradually adding more and more.

Management know-how

Management is steeped with geological know-how. Director Ian Atkinson also sits on the board at Kinross and was previously president and CEO at Centerra Gold before retiring in

2015, while another director Hans van Hoof is a director, president and CEO of NSX Silver Inc and executive chairman of NS Gold Corporation.

Stoch, who owns around 11% of Globex, earned his BSc in geology in 1972 and in 1976, started acquiring and vending exploration projects through his own consulting business. His wife Dianne is a director of Globex and was previously chief financial officer and treasurer.

Results for the year to end December in 2018 showed solid revenue, but the group posted a net loss, mainly due, explains Stoch, to the value of shares it holds in other companies declining due to the difficult mining environment and the zinc price collapse, which hit its Nyrstar zinc royalty hard.

He hopes though that picture will change in 2019 as the mining sector becomes more buoyant and the potential zinc price rises at Mid Tennessee mines, where production levels are expected to rise after changes at the mine have been made and indeed the February payment is higher.

So, with its thumbs in many pies to spread risk, including commodity projects which look set to boom amid today's green and technological advances, and as the mining sector improves, small-cap Globex could certainly be a firm which picks up the pace in forthcoming years.

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Thu, 28 Mar 2019 15:16:00 -0400 https://ca.proactiveinvestors.com/companies/news/217461/mineral-property-bank-globex-mining-eyes-further-growth-with-its-diversified-low-risk-model-217461.html
<![CDATA[News - Globex Mining Enterprises updates on resource filing for East Cadillac gold property, Canada ]]> https://ca.proactiveinvestors.com/companies/news/217150/globex-mining-enterprises-updates-on-resource-filing-for-east-cadillac-gold-property-canada-217150.html Globex Mining Enterprises Inc (TSE:GMX) (OTCMKTS:GLBXF) reported that Chalice Gold Mines Ltd (TSE:CXN) has filed an amended NI 43-101 report for its East Cadillac Gold property in the Abitibi gold belt of Canada

The report covers Globex’s Nordeau West and East gold zones, and Bateman gold area and other claims but does not include recent work.

Globex highlighted that the report, among other things, recommended that work programs should include diamond drilling focused on further delineating the resource at Nordeau West.

At Nordeau West, the report showed an indicated resource of 78,556 ounces at 2.12 g/t (gram per ton) gold, using a 1 g/t (cut-off).  Inferred, using 1 g/t cut-off came in at 289,532 ounces at 2.41 g/t of the yellow metal.

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Mon, 25 Mar 2019 11:00:00 -0400 https://ca.proactiveinvestors.com/companies/news/217150/globex-mining-enterprises-updates-on-resource-filing-for-east-cadillac-gold-property-canada-217150.html
<![CDATA[Media files - Globex Mining makes another move to maximize shareholder value. ]]> https://ca.proactiveinvestors.com/companies/stocktube/12687/globex-mining-makes-another-move-to-maximize-shareholder-value-12687.html Thu, 21 Mar 2019 15:53:00 -0400 https://ca.proactiveinvestors.com/companies/stocktube/12687/globex-mining-makes-another-move-to-maximize-shareholder-value-12687.html <![CDATA[News - Globex acquires stake in NSGold, owner of Mooseland gold mine in Nova Scotia ]]> https://ca.proactiveinvestors.com/companies/news/216963/globex-acquires-stake-in-nsgold-owner-of-mooseland-gold-mine-in-nova-scotia-216963.html Globex Mining Enterprises Inc (TSX:GMX) (OTCMKTS:GLBXF) revealed it has taken an 11.1% stake in NSGold Corp (CVE:NSX) after it reached a new deal with the junior resource firm.

Prospect generator and resource property bank Globex said it has agreed with NSGold to reduce its gross metal royalty (GMR) – that's a cut taken on the metal produced – on its Mooseland Gold mine in Nova Scotia from 4% to 2%.

READ:  Globex Mining anticipates next steps as neighbor to northwest begins drilling at Crater Lake

The companies also agreed to eliminate the potential 5% share issuance upon reaching production in exchange for the immediate issuance of more than 1.74  million shares of NSGold – or an 11.1% interest.

Globex says it expects that the reduction of the royalty will advance the potential of the Mooseland Gold deposit's advancing toward production.

Mooseland is a Meguma-type gold deposit with a NI 43-101 inferred resource of 2.52 million tonnes, grading 5.6 g/t (grams per tonne) gold at a cutoff grade of 2.6 g/t for 454,000 contained ounces of gold.

Globex Mining shares in Toronto were unchanged at $0.32.

Contact Giles at giles@proactiveinvestors.com

Follow him on Twitter @Gile74 

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Thu, 21 Mar 2019 10:31:00 -0400 https://ca.proactiveinvestors.com/companies/news/216963/globex-acquires-stake-in-nsgold-owner-of-mooseland-gold-mine-in-nova-scotia-216963.html
<![CDATA[News - Globex Mining anticipates next steps as neighbor to northwest begins drilling at Crater Lake ]]> https://ca.proactiveinvestors.com/companies/news/216881/globex-mining-anticipates-next-steps-as-neighbor-to-northwest-begins-drilling-at-crater-lake-216881.html Globex Mining Enterprises Inc. (TSX:GMX) (OTCMKTS:GLBXF) informed shareholders on Wednesday that Imperial Mining Group has mobilized crews to begin drilling on its Crater Lake project, which adjoins Globex’s similarly named property.

The Crater Lake scandium property is a 6 kilometre ring structure east of Schefferville, Quebec. Imperial Mining Group owns the northwestern half of the structure and Globex owns the southeastern portion.

Scandium can be added to aluminium to make lighter, stronger alloys for use in automobiles, ships and aircraft. Worldwide supply of the metal is low, with an estimated 15 tons produced globally each year.

READ: Globex Mining Enterprises says Renforth will gain 100% of Parbec gold project in Quebec

Imperial is planning a 2,500 metre diamond drill program to better understand the scandium resource potential at Crater Lake. Globex recently acquired its land position on the property in anticipation of Imperial’s exploration campaign.

Because Crater Lake is remote and exploration is costly, Globex will wait for results of Imperial’s drilling before making any decisions to explore its property, the company said in a statement.

Imperial anticipates preliminary results to be available in early spring, according to a recent press release.

Based in Montreal, Globex has a diversified portfolio of mid-stage exploration, development and royalty properties spanning a wide variety of commodities. In addition to doing its own exploration, the junior miner options many of its projects to other companies.

Shares of Globex were unchanged on Wednesday afternoon at $0.33 in Toronto and down 2.8% to US$0.25 in the US.

Contact Angela Harmantas at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

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Wed, 20 Mar 2019 15:32:00 -0400 https://ca.proactiveinvestors.com/companies/news/216881/globex-mining-anticipates-next-steps-as-neighbor-to-northwest-begins-drilling-at-crater-lake-216881.html
<![CDATA[News - Globex Mining Enterprises says Renforth will gain 100% of Parbec gold project in Quebec ]]> https://ca.proactiveinvestors.com/companies/news/216784/globex-mining-enterprises-says-renforth-will-gain-100-of-parbec-gold-project-in-quebec-216784.html Globex Mining Enterprises Inc (TSE:GMX) (OTCMKTS:GLBXF), the prospect generator group, revealed that  Renforth Resources Inc (CSE: RFR) has acquired 100% of the Parbec gold project in the Malartic township of Quebec.

In January 2015, Globex had optioned the property to Renforth Resources for $550,000 in cash, $4 million in exploration and 2 million Renforth shares over four years.

READ: Globex Mining Enterprises gains as Vanadium One posts drill results from Quebec project

Tuesday's stock market statement said that Renforth had renegotiated the remaining work requirement due under the option and, with the following grants to Globex, will satisfy all the terms and conditions of the agreement to earn 100% ownership.

Renforth will issue an additional 1% GMR (gross metal royalty) on the project and 5 million shares from its treasury.

If Renforth consolidates its shares in the next four years, Globex will receive a further 1.5 million shares.

One-time payment

Upon the start of commercial mining at Parbec, a one-time payment will be made to Globex of $1 million, adjusted for inflation and subject to the deduction of any advance royalty payments made.

In consideration of these payments, Globex shall grant to Renforth a one-time right of first refusal on the sale of all or any part of Globex's GMR (gross metal royalty).

Globex Mining Enterprises Inc shares eased by around 1.5% to $0.32.

Contact Giles at giles@proactiveinvestors.com

Follow him on Twitter@Gile74

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Tue, 19 Mar 2019 12:41:00 -0400 https://ca.proactiveinvestors.com/companies/news/216784/globex-mining-enterprises-says-renforth-will-gain-100-of-parbec-gold-project-in-quebec-216784.html
<![CDATA[News - Globex Mining Enterprises gains as Vanadium One posts drill results from Quebec project ]]> https://ca.proactiveinvestors.com/companies/news/216505/globex-mining-enterprises-gains-as-vanadium-one-posts-drill-results-from-quebec-project-216505.html Globex Mining Enterprises Inc (TSE:GMX) (OTCMKTS:GLBXF) gained Thursday as Vanadium One reported positive drill assays from its Mont Sorcier iron-ore project near Chibougamau, Quebec.

Drilling of three holes in the South Zone hit continuous mineralization throughout each hole. Globex holds a 1% guaranteed minimum royalty on the property.

Shares in Globex added 1.7% to C$0.30 in Toronto trading. They were up 5.7% to US$0.23 on the OTC Markets.

READ:Globex Mining Enterprises set to buy back up to 1 million shares

One hole returned an intersection of 243 meters of concentrate grading 65.2% iron and 0.50% vanadium pentoxide within the iron formation, based on the Davis Tube Test (DTT).

Globex noted that the work by Vanadium One continued to reveal wide widths of iron-vanadium mineralization.

Of particular interest is the low titanium dioxide content, which suggests that it will not interfere with the recovery of the vanadium.

Vanadium is in high demand for large-volume energy storage batteries, said Globex.

The firm was "particularly encouraged by the persistent wide bands of higher-grade vanadium pentoxide found inside the magnetite iron formation," Martin Walter, CEO at Vanadium One, said. 

"Again, this strengthens our opinion that the vanadium content is an important economic credit, in addition to the value of the Iron, when considering future economic studies conducted on the project," he added.

 

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Thu, 14 Mar 2019 14:17:00 -0400 https://ca.proactiveinvestors.com/companies/news/216505/globex-mining-enterprises-gains-as-vanadium-one-posts-drill-results-from-quebec-project-216505.html
<![CDATA[News - Globex Mining Enterprises set to buy back up to 1 million shares ]]> https://ca.proactiveinvestors.com/companies/news/216117/globex-mining-enterprises-set-to-buy-back-up-to-1-million-shares-216117.html Globex Mining Enterprises Inc (CVE:GMX) (OTCQX:GLBXF) revealed it was to buy back up to 1 million of its shares, having received approval from the Toronto Stock Exchange (TSX).

The shares represent 1.9% of the group's public float as of 1 March 2019 and the buyback will take place over 12 months starting on March 12 this year and ending on March 11, 2020.

READ: Globex Mining broadens footprint at Joutel mine in Quebec

The purchases by the company will be via the TSX and on other alternative trading systems in Canada and will be made at the market price of the shares at the time of the purchase, the Toronto-based firm said in the statement.

Globex believes that buying back the shares at certain market prices is beneficial to the company and its shareholders.

Under its previous normal course issuer bid (NCIB), which started on  12 March 2018 and which expires on 11 March 2019, Globex was authorized to similarly buy back up to 1 million shares. 

As of the beginning of March this year, Globex had repurchased 1 million shares at a volume-weighted average purchase price of $0.2925 per share and canceled them, it said in the statement Friday.

Last month, the resource group told investors it had extended its footprint, having acquired additional rights in the Joutel gold and base metal mining camp of Quebec.

The company already owns three former mines in the Joutel mining camp: the Poirier mine, the Joutel mine – both copper/zinc – and the gold-focused Eagle Mine. All three former mines have historical resources and underground access via shafts and drifts.

Shares ticked up on the day in Toronto 1.67% to $0.30.

–This story was updated after the company corrected its percentage of issued and outstanding shares–

Contact Giles at giles@proactiveinvestors.com

Follow him on Twitter @Gile74

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Fri, 08 Mar 2019 11:54:00 -0500 https://ca.proactiveinvestors.com/companies/news/216117/globex-mining-enterprises-set-to-buy-back-up-to-1-million-shares-216117.html
<![CDATA[Media files - Globex Mining has a broad portfolio covering a wide variety of metals ]]> https://ca.proactiveinvestors.com/companies/stocktube/12480/globex-mining-has-a-broad-portfolio-covering-a-wide-variety-of-metals-12480.html Tue, 05 Mar 2019 23:02:00 -0500 https://ca.proactiveinvestors.com/companies/stocktube/12480/globex-mining-has-a-broad-portfolio-covering-a-wide-variety-of-metals-12480.html <![CDATA[News - Globex Mining broadens footprint at Joutel mine in Quebec ]]> https://ca.proactiveinvestors.com/companies/news/215450/globex-mining-broadens-footprint-at-joutel-mine-in-quebec-215450.html Globex Mining Enterprises Inc (CVE:GMX) (OTCQX:GLBXF) released promising news Wednesday that it was extending its reach, having acquired additional mineral rights in the Joutel gold and base metal mining camp of Quebec.

The Quebec-based company already owns three former mines in the Joutel mining camp; the Poirier mine, the Joutel mine – both copper/zinc – and the gold-focused Eagle Mine. All three former mines have historical resources and underground access via shafts and drifts.

Globex has amassed a portfolio of more than 160 properties, including more than 40 former mines. It has a diversified North American portfolio of mid-stage exploration, development and royalty properties.

WATCH: Globex Mining uses a unique and successful model to find and monetize new projects

The company said it acquired more than 10 km of the Eagle Mine horizon, including the entire strike length.

According to a release by the company, "the claims have seen historical exploration including drilling. The drilling defined the underlying mine horizon of interest over the entire acquired property. Numerous gold intersections are reported or indicated."

It added that while many older drill records reported prospective geology, such as quartz veins, sulphides, and alteration, little or no assaying was completed. 

The company intends to compile the historical data and seek an option partner or buyer for the prospective Joutel Mining Camp package.

Drilling at Francoeur/Arntfield gold mines property to start

The company also said drilling is expected to start on its 100%-owned Francoeur/Arntfield Gold Mines property next week. 

The company said it would be targeting the South and 450 gold zones.

Shares of Globex were up 1.7% at C$0.30 on Wednesday. 

Contact Katie Lewis at katie@proactiveinvestors.com

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Wed, 27 Feb 2019 12:00:00 -0500 https://ca.proactiveinvestors.com/companies/news/215450/globex-mining-broadens-footprint-at-joutel-mine-in-quebec-215450.html
<![CDATA[Media files - Globex Mining uses an unique and successful model to find and monetize new projects. ]]> https://ca.proactiveinvestors.com/companies/stocktube/11897/globex-mining-uses-an-unique-and-successful-model-to-find-and-monetize-new-projects-11897.html Sun, 20 Jan 2019 13:13:00 -0500 https://ca.proactiveinvestors.com/companies/stocktube/11897/globex-mining-uses-an-unique-and-successful-model-to-find-and-monetize-new-projects-11897.html <![CDATA[Media files - Globex Mining sees more acquisitions on the horizon ]]> https://ca.proactiveinvestors.com/companies/stocktube/9244/globex-mining-sees-more-acquisitions-on-the-horizon-9244.html Wed, 09 May 2018 10:24:00 -0400 https://ca.proactiveinvestors.com/companies/stocktube/9244/globex-mining-sees-more-acquisitions-on-the-horizon-9244.html <![CDATA[News - Jack Stoch steps up with $1.2 million investment to ensure Chibougamau Independent Mines lists on TSX-V ]]> https://ca.proactiveinvestors.com/companies/news/92170/jack-stoch-steps-up-with-12-million-investment-to-ensure-chibougamau-independent-mines-lists-on-tsx-v-39020.html Globex Mining Enterprises (TSE:GMX) (OTCQX:GLBXF) and subsidiary Chibougamau Independent Mines Inc. (CIM) Wednesday said that a $1.2 million investment by Jack Stoch Geoconsultant Services Ltd. will ensure that CIM can trade on the TSX Venture Exchange.

CIM raised $1.4 million in "flow-through" units, noting that the TSX-Venture required it to have a minimum of roughly $1.2 million in working capital at listing. 

Jack Stoch Geoconsultant Services, owned by Jack Stoch, president and CEO of Globex and CIM, has subscribed for "hard cash" units of CIM in that amount. 

Jack and Dianne Stoch said in a recent release that they are “prepared to ensure their advancement and that of CIM” with their investment and that they view CIM's projects as “among the best in the Province of Quebec”. 

With its investment, Jack Stoch Geoconsultant Services will have a roughly 19-per-cent equity stake in CIM.           

Globex noted that neither the Quebec Government funds nor the Quebec union fund, set up specifically to support exploration in Quebec, participated in the CIM financing. 

“We find this perplexing especially when we were told that, at least in one case, that they were surprised by the high quality of our projects,” the company said in a statement.

Earlier this week, CIM announced it had raised about $2.6 million at the closing of its previously-announced private placement.

The company said that the current financial uncertainty both in Europe and North America and “weak performance” of the junior sector made it impossible for CIM to raise the complete $10 million amount it originally announced in October, 2012. 

“Several investment funds have expressed an interest in CIM but have requested that we re-contact them in early 2013 once their new 2013 funds are funded,” it added.

Globex said that as previously announced, the TSX-V has already conditionally approved CIM's listing application. The start of trading of CIM is expected this month, on compeltion of the placement and standard listing documents, among other items. 

All the funds from the private placement will be used for the 10, 100-per-cent-owned, advanced properties in the Chibougamau area.

CIM said it will immediately initiate several of its exploration programs, including drilling of the historical non-NI 43-101 Berrigan gold, silver, zinc zone immediately north of the town of Chibougamau, Quebec. 

The initial drill program on the Berrigan property will be focused on confirming the previously drilled shallow, historical zinc zone, where drilling from the 1940's to the 1960's largely ignored the “numerous and very significant” gold and silver values. 

Globex, a development-stage, mining exploration company, has a North American portfolio of properties with gold, copper, zinc, silver, platinum, palladium, uranium, rare earth, nickel, magnesium and talc potential.

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Wed, 02 Jan 2013 13:20:00 -0500 https://ca.proactiveinvestors.com/companies/news/92170/jack-stoch-steps-up-with-12-million-investment-to-ensure-chibougamau-independent-mines-lists-on-tsx-v-39020.html
<![CDATA[News - Globex Mining announces record date for spinout of Chibougamau Independent Mines ]]> https://ca.proactiveinvestors.com/companies/news/92045/globex-mining-announces-record-date-for-spinout-of-chibougamau-independent-mines-38798.html

Globex Mining (TSE:GMX) (OTCQX:GLBXF) announced late yesterday a record date for the spin out of its Chibougamau Independent Mines (CIM) subsidiary to its shareholders. 

The company is spinning out a tax free dividend to its shareholders in the form of shares in CIM, which owns a large package of former mines and non NI 43-101 deposits and targets in the Chibougamau mining camp of Quebec.

Every Globex shareholder at the close of business on Friday, December 28 will receive one share of CIM for each Globex share held. 

CIM will hold a closing of its previously-announced private placement of "flow-through" units and "hard dollar" units on December 31, which is being co-led by Casimir Capital and Marquest Capital Markets. 

Globex said that as previously announced, the TSX Venture Exchange has already conditionally approved CIM's listing application. The start of trading of CIM on the exchange is conditional on the placement, and standard listing documents, among other items. 

All the funds from the private placement will be used for the 10, 100-per-cent-owned, advanced properties in the Chibougamau area.

Globex, a development-stage, mining exploration company, has a North American portfolio of properties with gold, copper, zinc, silver, platinum, palladium, uranium, rare earth, nickel, magnesium and talc potential.

On Tuesday, joint venture partners Globex and Queenston Mining (TSE:QMI)(OTCQX:QNMNF) said they intersected a wide gold zone at their Wood-Pandora property near Cadillac, Quebec.

Results from the latest program, which included nine holes for 5,601 metres, yielded notable intercepts such as 3.81 g/t gold over 41 metres in hole W12-99B, which includes 32.25 g/t gold over 4.2 metres, at around 450 metres below surface. 

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Wed, 19 Dec 2012 09:52:00 -0500 https://ca.proactiveinvestors.com/companies/news/92045/globex-mining-announces-record-date-for-spinout-of-chibougamau-independent-mines-38798.html
<![CDATA[News - Globex Mining and Queenston intersect wide gold zone at Wood-Pandora joint venture ]]> https://ca.proactiveinvestors.com/companies/news/92019/globex-mining-and-queenston-intersect-wide-gold-zone-at-wood-pandora-joint-venture-38746.html

Joint venture partners Globex Mining Enterprises (TSE:GMX) (OTCQX:GLBXF) and Queenston Mining (TSE:QMI)(OTCQX:QNMNF) said today they have intersected a wide gold zone at their Wood-Pandora property near Cadillac, Quebec.

Drilling between July and November this year was planned to follow up on encouraging results from last year, including a high grade hole that returned 28.86 grams per tonne (g/t) gold over 4.9 metres within the Cadillac Break. 

Results from the latest program, which included nine holes for 5,601 metres, yielded notable intercepts such as 3.81 g/t gold over 41 metres in hole W12-99B, which includes 32.25 g/t gold over 4.2 metres, at around 450 metres below surface. 

Other key intersections include 16.41 g/t gold over 3.4 metres in hole W12-100, 11.73 g/t gold over 1.3 metres in hole W12-95, and 22.08 g/t gold over 1.0 metre in hole W12-97. 

So far, only a small number of widely-spaced holes have been drilled below a depth of 300 metres, the partners said, adding that properties to the east and west have intersected economic mineralization to depths of 1500 metres.          

The Wood-Pandora property straddles the gold localizing Cadillac Break and is near the LaRonde and Lapa Mines operated by Agnico-Eagle Mines. 

The joint venture asset holds historic inferred mineral resources of 1.43 million tonnes grading 5.3 g/t gold in two deposits - Wood and Central Cadillac. 

In 2008, Globex and Queenston announced an NI 43-101 compliant inferred mineral resource on a new gold discovery - the Ironwood Zone - which amounted to 243,200 tonnes grading 17.3 g/t gold. 

The parties said that gold mineralization at the site occurs across the full width of the Cadillac Break, with the greatest concentrations both within the break and in the adjacent sediments to the north. 

Globex and Queenston said in a joint statement Tuesday that they view the drill results as positive, with further drilling warranted in an effort to outline a significant mineral resource below the No.3 Shaft Zone along the Cadillac Break, which historically produced around 13,000 ounces of gold in the 1930s.                 

Globex has a portfolio of mid-stage exploration and development properties in Ontario and Quebec. It is in the midst of spinning out a tax free dividend to its shareholders in the form of shares in a new company, Chibougamau Independent Mines, which owns a large package of former mines and non NI 43-101 deposits and targets in the Chibougamau mining camp of Quebec.

The company received the final court order for the approval of the spin out yesterday. 

Queenston, meanwhile, is focused on its holdings in the historic Kirkland Lake Gold camp comprising 230 square kilometres. 

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Tue, 18 Dec 2012 11:15:00 -0500 https://ca.proactiveinvestors.com/companies/news/92019/globex-mining-and-queenston-intersect-wide-gold-zone-at-wood-pandora-joint-venture-38746.html
<![CDATA[News - Globex Mining gets final court order for spin out of Chibougamau Independent Mines ]]> https://ca.proactiveinvestors.com/companies/news/91971/globex-mining-gets-final-court-order-for-spin-out-of-chibougamau-independent-mines-38669.html

Globex Mining (TSE:GMX) (OTCQX:GLBXF) has obtained a final order from the Quebec Superior Court to spin out shares of its Chibougamau Independent Mines (CIM) subsidiary to its shareholders. 

Completion of the spin out is conditional on CIM closing its $10 million private placement financing first announced in October, which is being co-led by Casimir Capital and Marquest Capital Markets. 

Globex said that as previously announced, the TSX Venture Exchange has already conditionally approved CIM's listing application. The start of trading of CIM on the exchange is also conditional on the placement, and standard listing documents, among other items. 

All the funds from the private placement will be used for the 10, 100-per-cent-owned, advanced properties in the Chibougamau area.

Globex, a development-stage, mining exploration company, has a North American portfolio of properties with gold, copper, zinc, silver, platinum, palladium, uranium, rare earth, nickel, magnesium and talc potential.

Earlier this month, the company started prefeasibility study drilling at its Timmins talc magnesite property in Timmins, Ontario. The campaign is made up of around 46 drill holes, or 7,000 metres. The majority of holes in the program will be infill, in order to elevate the first 20 years of potential resource to mineable reserve. 

The preliminary economic assessment report, released in March of this year, was based on an initial 20-year period of mining 500,000 tonnes of ore per year, with total projected sales of $2.6 billion and an after-tax internal rate of return of 20 per cent. 

To advance the project to prefeasibility study stage, Globex is completing infill and geotechnical drilling to upgrade the first 20-year resource to a 20-year reserve, which will be reported in a new NI 43-101 report. The company has also undertaken a series of larger scale tests to further improve recovery costs and product purity, it said. 

Globex is aiming to become a major supplier of "high quality" talc and magnesia to the North American market. The Timmins project was acquired in 2000 by Globex, who now holds a 90-per-cent stake, with the remainder held by Drinkard Metalox. 

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Mon, 17 Dec 2012 09:36:00 -0500 https://ca.proactiveinvestors.com/companies/news/91971/globex-mining-gets-final-court-order-for-spin-out-of-chibougamau-independent-mines-38669.html
<![CDATA[News - Globex announces court date for final order motion to spin-out Chibougamau Independent Mines ]]> https://ca.proactiveinvestors.com/companies/news/91824/globex-announces-court-date-for-final-order-motion-to-spin-out-chibougamau-independent-mines-38425.html Globex Mining (TSE:GMX) (OTCQX:GLBXF) Monday said the Quebec Superior Court will hear its motion this week for a final order regarding the spin-out of its subsidiary, Chibougamau Independent Mines (CIM).

Shares of the company rose 5.77 per cent on the news, trading at $1.10 as at about 3:15 p.m. EDT.

The motion for the final order on the spinout, initially announced in September, will be heard by the court on December 14.

The company received conditional approval last month from the TSX Venture Exchange to list CIM on the exchange as it completes the proposed spin-out.

With that approval in hand, CIM said then it would begin a $10 million private placement financing it originally announced in October. All the funds will be used for the 10, 100-per-cent-owned, advanced properties in the Chibougamau area.

Completion of the CIM spin-out is conditional upon Globex receiving the final order from the Quebec Superior Court and upon the completion of the private placement.

Globex also announced Monday that it has received an advance income tax ruling from Canada Revenue Agency confirming that the arrangement will be treated as a “tax-deferred butterfly reorganization”, with no material Canadian federal income tax payable by any of CIM or Globex shareholders who hold their shares as capital property. 

The development-stage, mining exploration company has a North American portfolio of properties with gold, copper, zinc, silver, platinum, palladium, uranium, rare earth, nickel, magnesium and talc potential.

Earlier this month, Globex started prefeasibility study drilling at its Timmins talc magnesite property in Timmins, Ontario. 

The campaign will consist of around 46 drill holes, or 7,000 metres. The majority of holes in the program will be infill, in order to elevate the first 20 years of potential resource to mineable reserve. 

The preliminary economic assessment report, released in March of this year, was based on an initial 20-year period of mining 500,000 tonnes of ore per year, with total projected sales of $2.6 billion and an after-tax internal rate of return of 20 per cent. 

To advance the project to prefeasibility study stage, Globex is completing infill and geotechnical drilling to upgrade the first 20-year resource to a 20-year reserve, which will be reported in a new NI 43-101 report. The company has also undertaken a series of larger scale tests to further improve recovery costs and product purity, it said. 

Globex is aiming to become a major supplier of "high quality" talc and magnesia to the North American market. 

The Timmins project was acquired in 2000 by Globex, who now holds a 90-per-cent stake, with the remainder held by Drinkard Metalox. 

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Mon, 10 Dec 2012 15:14:00 -0500 https://ca.proactiveinvestors.com/companies/news/91824/globex-announces-court-date-for-final-order-motion-to-spin-out-chibougamau-independent-mines-38425.html
<![CDATA[News - Globex Mining starts prefeasibility drilling at Timmins talc-magnesite property ]]> https://ca.proactiveinvestors.com/companies/news/91638/globex-mining-starts-prefeasibility-drilling-at-timmins-talc-magnesite-property-38085.html

Globex Mining (TSE:GMX) (OTCQX:GLBXF) says it has started prefeasibility study drilling at its Timmins talc magnesite property in Timmins, Ontario. 

The company said Monday that two drills are moving onto the site today, with the campaign to consist of around 46 drill holes, or 7,000 metres. 

The majority of holes in the program will be infill, in order to elevate the first 20 years of potential resource to mineable reserve. 

The preliminary economic assessment report, released in March of this year, was based on an initial 20-year period of mining 500,000 tonnes of ore per year, with total projected sales of $2.6 billion and an after-tax internal rate of return of 20%. 

To advance the project to prefeasibility study stage, Globex is now completing infill and geotechnical drilling to upgrade the first 20-year resource to a 20-year reserve, which will be reported in a new NI 43-101 report. 

The company has also undertaken a series of larger scale tests to further improve recovery costs and product purity, it said. 

Globex is aiming to become a major supplier of "high quality" talc and magnesia to the North American market. 

The Timmins project was acquired in 2000 by Globex, who now holds a 90% stake, with the remainder held by Drinkard Metalox. The property is situated in the south half of Deloro Township, Porcupine Mining District, 13 kilometres southeast of Timmins.              

The PEA report was based on an initial mineral resource report on the project from March 2010, which included 12.73 million indicated tonnes at a grade of 52.1 percent magnesite and 35.4 percent talc in the A Zone Core, with 18.78 million inferred tonnes at a grade of 53.1 percent magnesite and 31.7 percent talc.

The optimized open pit shell contains a mineral resource sufficient to support a 60-year mine life, with the PEA only considering the first 20 years of this period. Total operating costs were estimated at $986.5 million for the 20-year mining period or an average of $98.65 per tonne processed.

Globex Mining has a portfolio of exploration properties in Quebec and Ontario.              

Last week, the company said it received conditional approval from the TSX Venture Exchange to list its subsidiary Chibougamau Independent Mines (CIM) on the exchange as it completes the proposed spin-out.

With the approval now in hand, CIM will begin the $10 million private placement financing it announced in October. All the funds will be used for the ten, 100 per cent-owned, advanced properties in the Chibougamau area.

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Mon, 03 Dec 2012 10:05:00 -0500 https://ca.proactiveinvestors.com/companies/news/91638/globex-mining-starts-prefeasibility-drilling-at-timmins-talc-magnesite-property-38085.html
<![CDATA[News - Globex Mining receives TSX-V approval to list CIM shares, financing to begin ]]> https://ca.proactiveinvestors.com/companies/news/91472/globex-mining-receives-tsx-v-approval-to-list-cim-shares-financing-to-begin-37781.html

Globex Mining Enterprises (TSE:GMX)(OTCQX:GLBXF) says it has received conditional approval from the TSX Venture Exchange to list its subsidiary Chibougamau Independent Mines (CIM) on the exchange as it completes the proposed spin-out.

With the approval now in hand, CIM will begin the $10 million private placement financing it announced in October. All the funds will be used for the ten, 100 per cent-owned, advanced properties in the Chibougamau area.

The private placement will consist of up to 10.46 million "Quebec flow-through" units at a price of 65 cents per unit, and 6.4 million "hard dollar" units at a price of 50 cents each. 

Every flow through unit is made up of one flow through share and one half of a share purchase warrant, while each hard dollar unit consists of one common share and one half of one share purchase warrant. 

Each whole warrant allows the holder to buy another common share at a price of 80 cents for a period of one year from closing. 

The closing of the offering is conditional on Globex completing the spin out of CIM shares to its shareholders.       

Last week, Globex Mining said it held the second close of its private placement financing announced last month, for an additional $934,550 in funds. It will use the new funds for exploration on its properties in Quebec and Ontario, as well as for working capital. 

The company said it can issue a maximum of $5.26 million in flow through shares, and a max of $637,500 in common shares - for total proceeds of around $5.9 million. Earlier this month, Globex held the first close of the private placement financing, raising an increased total of around $3.3 million. 

Also in November, Globex Mining acquired a 100 per cent stake in the former Joutel copper mine in Joutel township, northwestern Quebec. The mine produced 1.32 million tonnes grading 2.16% copper and 378,000 tons grading 8.88% zinc, to a depth of 365 metres, where it was believed that the ore body terminated against the shallowly dipping "upper contact of a batholith", Globex said. 

The addition of the Joutel copper mine property to Globex's land holdings in the area, which include the 100% owned Eagle Gold and Poirier Mines and a large package of prospective claims, gives the company "a dominant position with excellent exploration potential" in the Joutel mining camp.               

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Mon, 26 Nov 2012 13:20:00 -0500 https://ca.proactiveinvestors.com/companies/news/91472/globex-mining-receives-tsx-v-approval-to-list-cim-shares-financing-to-begin-37781.html
<![CDATA[News - Globex Mining holds second close of private placement financing, raises another $0.9 mln ]]> https://ca.proactiveinvestors.com/companies/news/91375/globex-mining-holds-second-close-of-private-placement-financing-raises-another-09-mln-37602.html

Globex Mining (TSE:GMX) (OTCQX:GLBXF) says it has held the second close of its private placement financing announced last month, for an additional $934,550 in funds. 

The company issued 663,500 flow through shares at a price of $1.30 each, for proceeds of $862,550, and 72,000 common share at a price of $1.05 each for total proceeds of $75,600. 

Globex issued the shares to "accredited investors" in Ontario and Quebec, it said. 

It will use the new funds for exploration on its properties in Quebec and Ontario, as well as for working capital. 

Casimir Capital and Marquest Asset Management are acting as co-lead agents for the private placement, with additional closings of the financing possible until December 6. The company said it could issue a maximum of $5.26 million in flow through shares, and a max of $637,500 in common shares - for total proceeds of around $5.9 million. 

The maximum amount was previously $4.25 million. 

Earlier this month, Globex Mining held the first close of the private placement financing, raising an increased total of around $3.3 million. 

Also in November, Globex Mining acquired a 100 per cent stake in the former Joutel copper mine in Joutel township, northwestern Quebec. The mine produced 1.32 million tonnes grading 2.16% copper and 378,000 tons grading 8.88% zinc, to a depth of 365 metres, where it was believed that the ore body terminated against the shallowly dipping "upper contact of a batholith", Globex said. 

The addition of the Joutel copper mine property to Globex's land holdings in the area, which include the 100% owned Eagle Gold and Poirier Mines and a large package of prospective claims, gives the company "a dominant position with excellent exploration potential" in the Joutel mining camp.

Globex is also in the midst of its proposed spin out of its subisidary Chibougamau Independent Mines (CIM) to its shareholders. The company's shareholders approved the arrangement at a special meeting on October 19, with an affirmative vote of 99.95 per cent. 

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Wed, 21 Nov 2012 11:18:00 -0500 https://ca.proactiveinvestors.com/companies/news/91375/globex-mining-holds-second-close-of-private-placement-financing-raises-another-09-mln-37602.html
<![CDATA[News - Globex Mining holds first close of private placement financing, raises $3.3 mln ]]> https://ca.proactiveinvestors.com/companies/news/91133/globex-mining-holds-first-close-of-private-placement-financing-raises-33-mln-37200.html

Globex Mining Enterprises (TSE:GMX) (OTCQX:GLBXF) says it has held the first close of its private placement financing announced last month, raising an increased total of around $3.3 million. 

The company issued 2.55 million flow through shares, at a price of $1.30 each, and 20,000 common shares at $1.05 each. 

Globex said it issued the shares to accredited investors in Ontario, Quebec and British Columbia. 

The miner will use the new funds for exploration on its properties in Quebec and Ontario, as well as for working capital. 

Casimir Capital and Marquest Asset Management acted as co-lead agents for the placement, with additional closings to be held until December 6. 

The company said it will issue a maximum of $5.26 million in flow through shares, and $637,500 in common shares, for up to around $5.9 million in total proceeds. 

The maximum amount was previously $4.25 million. 

Earlier this month, Globex Mining acquired a 100 per cent stake in the former Joutel copper mine in Joutel township, northwestern Quebec. The mine produced 1.32 million tonnes grading 2.16% copper and 378,000 tons grading 8.88% zinc, to a depth of 365 metres, where it was believed that the ore body terminated against the shallowly dipping "upper contact of a batholith", Globex said. 

The addition of the Joutel copper mine property to Globex's land holdings in the area, which include the 100% owned Eagle Gold and Poirier Mines and a large package of prospective claims, gives the company "a dominant position with excellent exploration potential" in the Joutel mining camp.

Globex is also in the midst of its proposed spin out of its subisidary Chibougamau Independent Mines (CIM) to its shareholders. The company's shareholders approved the arrangement at a special meeting on October 19, with an affirmative vote of 99.95 per cent. 

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Mon, 12 Nov 2012 13:16:00 -0500 https://ca.proactiveinvestors.com/companies/news/91133/globex-mining-holds-first-close-of-private-placement-financing-raises-33-mln-37200.html
<![CDATA[News - Globex Mining acquires historic Joutel copper mine property in Quebec ]]> https://ca.proactiveinvestors.com/companies/news/90966/globex-mining-acquires-historic-joutel-copper-mine-property-in-quebec-36931.html

Globex Mining Enterprises (TSE:GMX) (OTCQX:GLBXF) says it has acquired a 100 per cent stake in the former Joutel copper mine in Joutel township, northwestern Quebec. 

The mine produced 1.32 million tonnes grading 2.16% copper and 378,000 tons grading 8.88% zinc, to a depth of 365 metres, where it was believed that the ore body terminated against the shallowly dipping "upper contact of a batholith", Globex said. 

"This being the prevailing geological theory, no effort was made to explore to additional depth as the perceived intersection of a batholith eliminated any potential to depth," it added. 

The company has reviewed the existing geological and structural data, including 3D models done by the Quebec Ministry of Natural Resources.            

Globex said it has concluded that rather than abutting against a batholith, "the Joutel ore body has been cut by a late, cross cutting, shallowly dipping dyke of undetermined thickness.

"If this is the case, there is a possibility, that the dyke bisected the ore body leaving mineralization and good exploration targets below the dyke."

The company is planning to test the potential of this target area, it said. 

The addition of the Joutel copper mine property to Globex's land holdings in the area, which include the 100% owned Eagle Gold and Poirier Mines and a large package of prospective claims, gives the company "a dominant position with excellent exploration potential" in the Joutel mining camp.

Globex is in the midst of its proposed spin out of its subisidary Chibougamau Independent Mines (CIM) to its shareholders. The company's shareholders approved the arrangement at a special meeting on October 19, with an affirmative vote of 99.95 per cent. 

Following this, Globex's motion for a final order in connection with the transaction was continued to a future date by the Quebec Superior Court. 

The company said it will issue a release announcing the hearing date for the final order when it is decided - with the date expected to be in mid-November. A delay to the spin out is not anticipated. 

Globex will transfer its interest in 10 mineral resource properties - known as the Chibougamau Mining Camp - which are subject to a three-per-cent gross metal royalty - together with cash and certain securities to CIM. 

Globex's shareholders will receive one common share of CIM for each share of Globex held on the effective date of the arrangement. 

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Mon, 05 Nov 2012 11:40:00 -0500 https://ca.proactiveinvestors.com/companies/news/90966/globex-mining-acquires-historic-joutel-copper-mine-property-in-quebec-36931.html
<![CDATA[News - Globex Mining updates on Chibougamau Independent Mines spin out ]]> https://ca.proactiveinvestors.com/companies/news/90859/globex-mining-updates-on-chibougamau-independent-mines-spin-out-36733.html

Globex Mining Enterprises (TSE:GMX)(OTCQX:GLBXF) provided Wednesday an update on its proposed spin out of its subisidary Chibougamau Independent Mines (CIM) to its shareholders. 

The company's shareholders approved the arrangement at a special meeting on October 19, with an affirmative vote of 99.95 per cent. 

Following this, Globex's motion for a final order in connection with the transaction was continued to a future date by the Quebec Superior Court. 

The company said the motion will be heard after it obtains an advance income tax ruling from the CRA confirming its arrangement will be treated as a tax-deferred "butterfly" reorganization, as well as conditional approval for the listing of its subsidiary's shares on the TSX Venture Exchange. 

The hearing of the motion is also contigent on other items. Globex noted that it expects to receive the income tax ruling and conditional listing approval shortly. 

The company said it will issue a release announcing the hearing date for the final order when it is decided - with the date expected to be in mid-November. A delay to the spin out is not anticipated. 

Globex will transfer its interest in 10 mineral resource properties - known as the Chibougamau Mining Camp - which are subject to a three-per-cent gross metal royalty - together with cash and certain securities to CIM. 

Globex's shareholders will receive one common share of CIM for each share of Globex held on the effective date of the arrangement. 

Last week, Globex Mining announced two private placement agreements, one for itself and one for its subsidiary, Chibougamau Independent Mines.

The total amount raised from Globex's offering will be $4.25 million, which will be used for exploration on its properties in Quebec and Ontario, as well as for potential land acquisitions and working capital. 

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Wed, 31 Oct 2012 11:47:00 -0400 https://ca.proactiveinvestors.com/companies/news/90859/globex-mining-updates-on-chibougamau-independent-mines-spin-out-36733.html
<![CDATA[News - Globex Mining announces $4.25 mln private placement, and $10 mln financing for Chibougamau Independent Mines subsidiary ]]> https://ca.proactiveinvestors.com/companies/news/90711/globex-mining-announces-425-mln-private-placement-and-10-mln-financing-for-chibougamau-independent-mines-subsidiary-36492.html

Globex Mining Enterprises (TSE:GMX) (OTCQX:GLBXF) announced Thursday two private placement agreements, one for itself and one for its subsidiary, Chibougamau Independent Mines.

Under the first agreement, Globex has signed an engagement letter with Marquest Asset Management, as a co-lead agent with Casimir Capital, for a private placement of up to 2.78 million flow through shares at a price of $1.30 each, for maximum gross  proceeds of $3.6 million. 

This placement also includes up to 607,142 common shares at a price of $1.05 per share, for maximum gross proceeds of $637,500. 

The total amount raised from the offering will be $4.25 million, which will be used for exploration on its properties in Quebec and Ontario, as well as for potential land acquisitions and working capital. 

The company noted that purchasers of the so-called "flow-through" shares will be entitled to claim a 100 per cent deduction of the amount of their subscription for Canadian federal and Quebec provincial tax purposes for the 2012 taxation year. 

This offering is expected to close in early November.                 

In addition, Globex's Chibougamau subsidiary has signed an engagement letter with the same agents for a private placement of up to 10.5 million flow through units at a price of 65 cents each, and up to 6.4 million "hard dollar" units at a price of 50 cents each, for total maximum gross proceeds of $10 million. 

Each of the "flow-through" units and "hard-dollar" units will be comprised of one common share of the subsidiary, and one-half of a share purchase warrant. Every full warrant will allow the holder to buy one additional share at a price of 80 cents each for a period of one year. 

These proceeds will be used for exploration on Chibougamau's properties in Quebec, and for working capital. This offering is expected to close in mid-December. 

Both deals are subject to regulatory approvals, and standard closing conditions. 

Chibougamau's placement is conditional on Globex completing the spin out of the subsidiary, as announced last month, as well as Chibougamau obtaining a listing for its shares on the TSX Venture Exchange. 

In September, Globex said it snagged an interim order from the Quebec Superior Court for the spin-out of its subsidiary Chibougamau Independent Mines to its shareholders.

Globex said its board of directors believes that the deal will “enhance shareholder value” by allowing each company to focus on exploring and developing its own mineral projects. 

Once the terms of the arrangement are decided, Globex will transfer its interest in 10 mineral resource properties - known as the Chibougamau Mining Camp - which are subject to a three-per-cent gross metal royalty - together with cash and certain securities to CIM. 

Globex's shareholders will receive one common share of CIM for each share of Globex held on the effective date of the arrangement. 

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Thu, 25 Oct 2012 11:24:00 -0400 https://ca.proactiveinvestors.com/companies/news/90711/globex-mining-announces-425-mln-private-placement-and-10-mln-financing-for-chibougamau-independent-mines-subsidiary-36492.html
<![CDATA[News - Globex gets interim order for spin-out of Chibougamau Independent Mines ]]> https://ca.proactiveinvestors.com/companies/news/89706/globex-gets-interim-order-for-spin-out-of-chibougamau-independent-mines--34897.html  

Globex Mining Enterprises (TSE:GMX) (OTCQX:GLBXF) Wednesday said it has snagged an interim order from the Quebec Superior Court for the spin-out of its subsidiary Chibougamau Independent Mines Inc. (CIM) to its shareholders.

Globex said its board of directors believes that the deal will “enhance shareholder value” by allowing each company to focus on exploring and developing its own mineral projects. 

Shares of Globex were halted immediately prior to the announcement earlier this morning, and recently resumed trading. Its stock was down over 9 per cent as of 11am ET today.

A special meeting of shareholders will be held in Toronto on October 19, where Globex shareholders will be asked to consider approval of the transaction.  

Once the terms of the arrangement are decided, Globex will transfer its interest in 10 mineral resource properties - known as the Chibougamau Mining Camp - which are subject to a three-per-cent gross metal royalty - together with cash and certain securities to CIM. 

The company said its shareholders will receive one common share of CIM for each share of Globex held on the effective date of the arrangement. 

Globex noted that registered shareholders holding fewer than 100 shares will receive a cash payment instead of CIM shares, the amount of which will be based on the volume-weighted average trading price of CIM's shares on their first day of trading. 

The company said it will continue to hold its several other mineral resource properties as well as most of its cash and securities.

The properties comprising the Chibougamau Mining Camp are located within the Abitibi - Chibougamau Mining District in Lemoine, McKenzie, Obalski and Roy Townships, Quebec. 

The Camp is comprised of 159 mining claims and 116 cells covering about 6,554 hectares or about 65.54 square kilometres.

Globex said CIM is currently organizing a financing, the proceeds of which will be used to carry out its recommended exploration program.

Both CIM and Globex will announce the details of the proposed financing when they are established, they said.

Globex Mining Enterprises is a development-stage Canadian mining exploration company with a North American portfolio of mid-stage exploration and development properties containing a range of precious metals, base metals, specialty metals, and industrial minerals and compounds.

 

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Wed, 19 Sep 2012 10:56:00 -0400 https://ca.proactiveinvestors.com/companies/news/89706/globex-gets-interim-order-for-spin-out-of-chibougamau-independent-mines--34897.html
<![CDATA[News - Globex Mining and Queenston Mining start 5,200 metre drill program at Wood Pandora property ]]> https://ca.proactiveinvestors.com/companies/news/87771/globex-mining-and-queenston-mining-start-5200-metre-drill-program-at-wood-pandora-property-31748.html Globex Mining Enterprises (TSE:GMX)(OTCQX:GLBXF) and Queenston Mining (TSE:QMI) (OTCQX:QNMNF) said Tuesday that they are starting an eight-hole, 5,200 metre diamond drill program on the Wood Pandora joint venture property near Cadillac, Quebec.

The 50/50 split Wood Pandora property straddles the gold localizing Cadillac Break and is near the LaRonde Mine property operated by Agnico-Eagle Mines Inc (TSE:AEM) (NYSE:AEM).

The project hosts historic inferred mineral resources of 1.43 million tonnes grading 5.3 grams per tonne (g/t) gold in two deposits, Wood and Central Cadillac.

In 2008, the joint venture announced an NI 43-101 inferred mineral resource on a new gold discovery, called the Ironwood Zone, amounting to 243,200 tonnes grading 17.3 g/t gold.

Globex and Queenston also announced the results of a four-hole drill program in the fall of last year, near the no.3 shaft on the Pandora portion of the property.
     
All holes encountered significant gold mineralization, the companies said, with the deepest hole, W-11-92, intersecting 4.9 metres grading 28.86 g/t gold within the Cadillac Break at around 350 metres below surface.            

A follow up drill program was recommended to target the Cadillac Break in the vicinity of the W-11-92 hole, where the mineralization remains open both east and west along strike and to depth.

"It is important to note that the Lapa Gold deposit currently being mined by Agnico-Eagle occurs on the Cadillac Break 3 km to the east and the Lapa deposit begins at a vertical depth similar to the depth of the mineralization encountered in JV hole W-11-92," Globex and Queenston said in a statement.

Last week, Globex announced the second closing of its previously announced private placement, raising $453,000 in gross proceeds.
               
Globex said it will put the proceeds toward exploration on some of its properties in Quebec and Ontario. As last Wednesday, the company had raised an approximate total of $1.75 million in the private placement financing.

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Tue, 10 Jul 2012 14:48:00 -0400 https://ca.proactiveinvestors.com/companies/news/87771/globex-mining-and-queenston-mining-start-5200-metre-drill-program-at-wood-pandora-property-31748.html
<![CDATA[News - Globex Mining Enterprises announces second close of private placement financing ]]> https://ca.proactiveinvestors.com/companies/news/87575/globex-mining-enterprises-announces-second-close-of-private-placement-financing-31445.html Globex Mining Enterprises (TSE:GMX)(OTCQX:GLBXF) announced Wednesday the second closing of its previously announced private placement, raising $453,000 in gross proceeds.

The miner issued 348,599 “flow-through” shares at a cost of $1.30 each to accredited investors in Quebec and Ontario.

Globex said it will put the proceeds toward exploration on some of its properties in those provinces. As of now, the company has raised an approximate total of $1.75 million in the private placement financing.

Industrial Alliance Securities is lead agent for the placement, which is in a maximum amount of $3.15 million, the company said.

The Quebec-based company reported last Friday that drilling is scheduled to start within the next week on eight priority targets at its Turner Falls rare earths property in Quebec.

Globex said that extensive surface sampling, geological mapping and geophysical surveys have outlined a number of areas of mineralization, with high, heavy and light rare earth values.

The company completed a mapping, geophysics, and limited stripping and sampling program on the property in the summer and fall seasons of last year.

The program, which was intended to sample a historical rare earth showing indicated from government geological files, involved the testing of 331 rock samples and 139 boulder samples.

The highest grade returned from a single sample found 9.29 per cent total rare earth oxide (TREO). Meanwhile, another single sample returned 1.32 per cent heavy rare earth oxide (HREO). HREOs are rarer and more valuable than light REOs.

The Turner Falls property consists of 16 contiguous claims totaling 942-hectares and rests mainly in the Villedieu Township, Quebec.

Globex has a North American portfolio of mid-stage exploration and development properties containing a range of precious metals, base metals, specialty metals, and industrial minerals and compounds.

Shares of Globex traded at $1.17 Wednesday morning.

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Wed, 04 Jul 2012 10:51:00 -0400 https://ca.proactiveinvestors.com/companies/news/87575/globex-mining-enterprises-announces-second-close-of-private-placement-financing-31445.html
<![CDATA[News - Globex Mining says drilling to start at Turner Falls shortly ]]> https://ca.proactiveinvestors.com/companies/news/87500/globex-mining-says-drilling-to-start-at-turner-falls-shortly-31269.html Globex Mining Enterprises (TSE:GMX)(OTCQX:GLBXF) said Friday that drilling is scheduled to start within the next week on eight priority targets at its Turner Falls rare earths property in Quebec.

The miner said that extensive surface sampling, geological mapping and geophysical surveys have outlined a number of areas of mineralization, with high, heavy and light rare earth values.

The Quebec-based company completed a mapping, geophysics, and limited stripping and sampling program on the property in the summer and fall seasons last year.

The program, which was intended to sample a historical rare earth showing indicated from government geological files, involved the testing of 331 rock samples and 139 boulder samples.

The highest grade returned from a single sample found 9.29 per cent total rare earth oxide (TREO).

Meanwhile, another single sample returned 1.32 per cent heavy rare earth oxide (HREO). HREOs are rarer and more valuable than light REOs.

The Turner Falls property consists of 16 contiguous claims totaling 942-hectares and rests mainly in the Villedieu Township, Quebec.

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Fri, 29 Jun 2012 12:05:00 -0400 https://ca.proactiveinvestors.com/companies/news/87500/globex-mining-says-drilling-to-start-at-turner-falls-shortly-31269.html
<![CDATA[News - Globex Mining announces first close of private placement, raises $1.3 mln ]]> https://ca.proactiveinvestors.com/companies/news/86926/globex-mining-announces-first-close-of-private-placement-raises-13-mln-30312.html Globex Mining Enterprises (TSE:GMX) announced late Friday a first closing of its previously announced private placement, raising $1.3 million in gross proceeds.

The miner issued 998,538 “flow-through” shares priced at $1.30 per share to accredited investors in both Quebec and Ontario.

Globex plans to use the new funds to finance exploration on some of its properties in Quebec.

Industrial Alliance Securities is acting as lead agent for the up to $3.3 million financing. Additional closings for the private placement may be held until June 26, the company said.

The issued shares are subject to a four-month hold period, which expires on October 9.

Last month, Quebec-focused Globex announced a drill update on its claims being optioned by Richmont Mines (TSE:RIC).

The claims, optioned by Richmont from Globex, rest next to Richmont's Wasamac acreage, 15 kilometres west of Rouyn-Noranda, Quebec, in the heart of the Abitibi gold mining district.

Richmont said at the time that 4,222 metres of drilling had been completed in five holes on Globex claims. The miner also said that three drill holes indicated a new gold discovery at the western boundary of the Globex-optioned claims.

Richmont hit 7.09 grams per tonne (g/t) gold over 5.22 metres. This included 1.87 g/t gold over 9.24 metres and 4.07 g/t gold over 4.44 metres in the newly discovered zone 4, “which is located on the boundary of the Wasamac property and Globex option.”

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Mon, 11 Jun 2012 12:02:00 -0400 https://ca.proactiveinvestors.com/companies/news/86926/globex-mining-announces-first-close-of-private-placement-raises-13-mln-30312.html
<![CDATA[News - Globex moving "dilligently forward" on assets, issues update ]]> https://ca.proactiveinvestors.com/companies/news/86616/globex-moving-dilligently-forward-on-assets-issues-update-29835.html Globex Mining (TSE:GMX) Wednesday issued a comprehensive update on its corporate activities for its shareholders.

The Quebec-based company seeks to create shareholder value by acquiring mineral properties, enhancing them and either exploring, optioning or joint venturing them, developing them to production, or in some cases selling projects outright.

The company said that it had cash, negotiable securities and shares in other companies valued in total at $3.4 million.

In addition, as announced on May 23, the company agreed to raise an additional $3.2 million principally at $1.30 per share, in order to explore a number of projects in Quebec and Ontario.

"The state of the junior exploration sector is in disarray. Shareholders and investors are deeply concerned about their investments, the markets, metal prices, the economy, the banking system - pretty much everything," Globex Mining's president and CEO Jack Stoch said, commenting on the current market environment.

At its Timmins, Ontario talc/magnesite project, Globex said it will do infill drilling in order to raise the resource classification to reserve as required for completion of the prefeasibility study.

Detailed analyses, both chemical and mineralogical, will be carried out to better define the mineral zonation of the ore to allow for more directed mining.

In March, the company unveiled a preliminary economic assessment for the project, which showed the project will generate
$2.58 billion in gross revenue over the initial 20-year period with an after-tax internal rate of return of approximately 20 percent and a net present value of $258 million at an 8 percent discount rate.

Capital costs for the talc/magnesite project are estimated at $335 million over six years.

Permitting continues at the mine site of the potential open pit with the various testing, permit applications and other negotiations ongoing.

As part of moving the talc/magnesite project forward, Globex has hired David Hall as project manager. Hall is a mineral process engineer who has over 27 years experience in mineral process engineering as well as a broad exposure to base metals, precious metals and industrial minerals.

At the company's Turner Falls Rare Earth Property in Quebec, Globex has completed mapping, geophysics, sampling and analysis of samples from the property which has led to the identification of at least 6 large areas of high-grade rare earth mineralization as well as yttrium, zirconium, hafnium and niobium.

Globex has defined an initial drill program of 8 strategically located drill holes in order to confirm the width, depth, dip and mineralogy of the zones. The program will be helicopter-supported in order to eliminate the need to cut an access road at this point in time.

Globex has also been actively acquiring properties.

Amongst its latest acquisitions in Quebec, Globex staked the Guyenne gold and base metal property; the Tiblemont gold claims
including the Blair gold showing; the Fecteau Lake gold and base metal property; the Dollier gold property south of Chibougamau
and the Lake Jaune gold property beside and on strike with TomaGold Corporation’s Monster Lake gold property.

"Globex, like most junior exploration companies, has seen downward pressure on our stock price, both from the flow-through funds continuously selling into the market due to redemptions, and from the overall atmosphere of fear dominating the market.

"In this atmosphere we have a choice: Batten down the hatches and weather the storm or forge ahead despite the obstacles.

"We view inaction as negative for our shareholders. Delays for our talc/magnesite project would mean loss of important personnel already engaged for the project and eventually delayed production. Priority exploration targets would not be explored."

"All in all we have been very busy and expect the current pace to continue. We hope shareholders will agree that moving diligently forward is the correct path to follow."

The company has a diversified portfolio of mid-stage exploration and development properties containing precious metals, base metals, specialty metals and industrial minerals and compounds.

A full update on all of Globex's properties can be found at http://www.globexmining.com.

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Wed, 30 May 2012 13:15:00 -0400 https://ca.proactiveinvestors.com/companies/news/86616/globex-moving-dilligently-forward-on-assets-issues-update-29835.html
<![CDATA[News - Globex to raise $3.15 mln through private placement financing ]]> https://ca.proactiveinvestors.com/companies/news/86454/globex-to-raise-315-mln-through-private-placement-financing-29553.html Globex Mining Enterprises (TSE:GMX) said Thursday that it plans to raise $3.15 million through a private placement and use funds to advance exploration on its properties.

The explorer plans to sell 2.3 million flow-through shares priced at $1.30 apiece and also plans to sell an extra 139,535 common shares.

Proceeds from the offering will be used for exploration on its properties in Quebec and Ontario as well as for land acquisition and working capital purposes.

Industrial Alliance Securities Inc. will act as lead agent for the private placement, the company said in a statement.

The securities issued will have a four-month hold period. The placement, which is subject to regulatory approval, is expected to close on June 4.

Earlier this month, Globex announced a drilling update on its claims being optioned by Richmont Mines (TSE:RIC).

The claims optioned by Richmont from Globex rest next to Richmont's Wasamac acreage, 15 kilometres west of Rouyn-Noranda, Quebec, in the heart of the Abitibi gold mining district.

Richmont said that to date, 4,222 metres of drilling has been completed in five holes on Globex claims.

The miner also said that three drill holes indicated a new gold discovery at the western boundary of the Globex-optioned claims.

Richmont hit 7.09 grams per tonne (g/t) gold over 5.22 metres. This includes 1.87 g/t gold over 9.24 metres and 4.07 g/t gold over 4.44 metres in the newly discovered zone 4, “which is located on the boundary of the Wasamac property and Globex option.”

Globex Mining’s stock was flat at $1.06 apiece on the Toronto Stock Exchange.

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Thu, 24 May 2012 11:47:00 -0400 https://ca.proactiveinvestors.com/companies/news/86454/globex-to-raise-315-mln-through-private-placement-financing-29553.html
<![CDATA[News - Globex Mining says optionee Richmont reports significant gold intercepts in new zone ]]> https://ca.proactiveinvestors.com/companies/news/85989/globex-mining-says-optionee-richmont-reports-significant-gold-intercepts-in-new-zone-28799.html Globex Mining (TSE:GMX)(OTCQX:GLBXF) announced Tuesday a drilling update on its claims being optioned by Richmont Mines (TSE:RIC) as per an agreement signed in May of last year.

The claims being optioned by Richmont from Globex are located adjacent to Richmont's Wasmac property, 15 kilometres west of Richmont's headquarters in Rouyn-Noranda, Quebec, in the heart of the Abitibi gold mining district.

As of December 31, 2011, the Wasamac property had estimated measured and indicated resources of 6.7 million tonnes grading 2.56 g/t gold for 556,385 ounces of gold, and inferred resources of 25.6 million tonnes grading 2.58 g/t gold for 2.13 million ounces of gold.

Richmont said today that to date, 4,222 metres of drilling has been completed in 5 holes on the Globex claims.

The miner also said that three drill holes indicated a new gold discovery at the western boundary of the Globex-optioned claims.

Richmont said it hit 7.09 grams per tonne (g/t) gold over 5.22 metres, 1.87 g/t gold over 9.24 metres and 4.07 g/t gold over 4.44 metres in the newly discovered Zone 4, "which is located on the boundary of the Wasamac property and Globex option".
               
The newly discovered Zone 4 is open to the east and depth down dip and plunge on the Globex claims, Richmont said.

Richmont further stated in its statement that the company's 2012 drilling program will include approximately 55,000 metres, and will now focus "primarily on the Main Zone, Zone 3 extension and the optioned Globex claims."
               
Richmont also said Tuesday that it drilled 6.40 g/t gold over 52.8 metres on the Main Zone at Wasamac, as well as 2.83 g/t gold over 71.76 metres and 4.61 g/t gold over 34.94 metres.

Under the deal with Richmont, Globex received a $500,000 cash payment upon signing. Richmont has the right to make additional payments of $500,000 by November 2012, and $2.0 million plus 500,000 Richmont shares by May 2014, in order to secure a 100 percent interest in the Globex claims.

Should Richmont acquire the full stake, Globex will maintain a three percent Gross Metal Royalty (GMR) on all production from the property.

Richmont will also pay Globex an annual advance royalty of $50,000 per year until commercial production.

Globex said Tuesday it is "pleased" with the results obtained to date and "looks forward to further results from the continuing drill program."

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Tue, 08 May 2012 12:00:00 -0400 https://ca.proactiveinvestors.com/companies/news/85989/globex-mining-says-optionee-richmont-reports-significant-gold-intercepts-in-new-zone-28799.html
<![CDATA[News - Globex Mining unveils 2011 results from Mooseland, updated resource expected ]]> https://ca.proactiveinvestors.com/companies/news/84475/globex-mining-unveils-2011-results-from-mooseland-updated-resource-expected-26188.html Globex Mining Enterprises (TSE:GMX) (OTCQX:GLBXF) unveiled Tuesday the most recent drill results from NSGold Corp's (CVE:NSX) 2011 drill program on Globex's Mooseland royalty property in Nova Scotia.

Yesterday, NSGold separately announced the results of the final six drill holes, with notable assays including 22.9 grams per tonne (g/t) of gold over 1.0 metre in hole NSG-36-11.

Other signficant results from the same hole included 15.4 g/t gold over 1.0 metre and 16.7 g/t gold over 0.8 metres, as well as 10.8 g/t gold over 0.6 metres in hole NSG-41-11.

In addition, hole NSG-38-11 hit 1.0 metre at 7.4 g/t gold and 8.84 g/t gold over 0.5 metres.

Globex said the results are typical of the distribution of erratic free gold in Meguma quartz vein systems.

The 2011 drill program results will be included into a new resource estimate, to be completed by MineTech International.

In June 2011, MineTech estimated an inferred gold resource of 2.5 million tonnes grading 4.9 g/t gold for 390,000 troy ounces of gold.

Globex maintains a four percent gross metal royalty on all production from the Mooseland gold property and has the right to receive five percent of NSGold shares once production has started.

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Tue, 13 Mar 2012 11:35:00 -0400 https://ca.proactiveinvestors.com/companies/news/84475/globex-mining-unveils-2011-results-from-mooseland-updated-resource-expected-26188.html
<![CDATA[News - Globex Mining agrees to option 100% of Duparquet assets to Xmet ]]> https://ca.proactiveinvestors.com/companies/news/84247/globex-mining-agrees-to-option-100-of-duparquet-assets-to-xmet-25807.html Globex Mining Enterprises (TSE:GMX) said Monday that it, along with its joint venture partner, Geoconseils Jack Stoch Ltée, have agreed to option their full interest in Duparquet Assets to Xmet (CVE:CME), in a deal valued at about $9.0 million.

Duparquet Assets, a 50-50 joint venture (JV) between Globex and Geoconseils, owns the Duquesne West and Ottoman Fault properties in the Abitibi region of Quebec.

The original option agreement saw the JV relinquish just 75 percent of the assets. However, under the terms of the new option agreement, the companies will sell off 100 percent of Duparquet Assets in exchange for one of two cash payment scenarios.

Globex and Geoconseils will receive either a single cash payment of $9.0 million within six months of signing the new agreement, subject to a sliding scale gross metal royalty (GMR) of up to three percent; or a single cash payment of $6.5 million within six months of signing the new agreement, plus one of four payment options.

Those options will see the JV receive either $2.5 million in cash within one year of the agreement, $2.6 million in cash within two years of the agreement, $2.7 million in cash within three years of the agreement, or $2.8 million in cash within four years of the agreement.

Under the second payment scenario, should Xmet choose not to make one of the four cash payment options, Globex and Geoconseils will retain a 25 percent carried interest in the company, plus the three percent royalty. If the option is carried out, Globex and Geoconseils will commence pro rata contributions toward production, following the delivery of a bankable feasibility study by Xmet.

The new agreement eliminates Xmet's obligation to carry out another $6 million in work obligations over the next four years, as well as its annual five percent of carrying costs.

In October 2011, Xmet reported an NI 43-101 compliant inferred resource of 4.17 million tonnes at an average grade of 5.2 g/t gold at the property, hosting 727,000 ounces of gold. The report was prepared by Watts, Griffis, McOuat Ltd.

Xmet said it has completed 9,000 metres of its fully funded 13,000-metre phase two diamond drilling program on Duquesne-Ottoman, which aims to expand the resource beyond the current compliant amount.

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Mon, 05 Mar 2012 15:26:00 -0500 https://ca.proactiveinvestors.com/companies/news/84247/globex-mining-agrees-to-option-100-of-duparquet-assets-to-xmet-25807.html
<![CDATA[News - Globex Mining unveils PEA for Timmins talc-magnesite project, 20% after-tax IRR ]]> https://ca.proactiveinvestors.com/companies/news/84187/globex-mining-unveils-pea-for-timmins-talc-magnesite-project-20-after-tax-irr-25715.html Globex Mining Enterprises (TSE:GMX) (OTCQX:GLBXF) unveiled Friday the "positive" results of a preliminary economic assessment (PEA) on its large Timmins talc-magnesite project, located 13 kilometres south of Timmins, Ontario.

The company said the results of the PEA support completing a feasibility study, including a program of infill drilling to upgrade the known resource to reserve status.

Technical studies to permit production at the mine site have been underway for over a year, Globex added.
The economic study, completed by Jacobs Minerals Canada and Micon International, estimated a net present value of $258.0 million, after tax and at a discount rate of eight percent, with a 20 percent internal rate of return and a payback period of 5.8 years.

The model assumes the first 20 years of mining, and a process feed rate of 500, 000 tonnes per year, with strip ratios averaging 2.4 to produce high-brightness talc and magnesium oxide.

The study was constructed around a conceptual open pit mining model assuming contract mining, crushing and haulage to a nearby processing plant.

The average grade for the first 10 years was calculated at 34.6 percent talc and 52.4 percent magnesite, Globex said.
Total operating costs were estimated at $986.5 million for the 20-year mining period or an average of $98.65 per tonne processed.

Total pre-production capital expenditures are seen at $268.4 million over a two year period, excluding working capital. Total sustaining capital was estimated at $64.9 million.

In addition, working capital of $16.0 million, the equivalent of four months of operating costs, has been set to be maintained throughout the production period.

The company said total gross sales over the first 20 years, of a total mine of 60 plus years, were projected at $2.58 billion from talc production of 2.47 million tonnes and magnesia output of 2.38 million tonnes.

These calculations assume a $500 per tonne talc sales price, and a $570 per tonne magnesia sales price.

The cash operating margin averages 61 percent over the initial 20-year period, Globex said.

The PEA report was based on an initial mineral resource report on the project from March 2010, which included 12.73 million indicated tonnes at a grade of 52.1 percent magnesite and 35.4 percent talc in the A Zone Core, with 18.78 million inferred tonnes at a grade of 53.1 percent magnesite and 31.7 percent talc.

In addition, the A Zone Fridge holds another 5.0 million tonnes of inferred resources, grading 34.2 percent magnesite and 33.4 percent talc.

The optimized open pit shell contains a mineral resource sufficient to support a 60-year mine life, with the PEA only considering the first 20 years of this period, Globex said.

Globex also noted that the mangesia leach and decomposition process has not yet been demonstrated at the scale of the proposed commercial production plant.

The company plans to continue to work together with provincial and municipal authorities, and the First Nations and the Métis Nation of Ontario for the project. 

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Fri, 02 Mar 2012 11:00:00 -0500 https://ca.proactiveinvestors.com/companies/news/84187/globex-mining-unveils-pea-for-timmins-talc-magnesite-project-20-after-tax-irr-25715.html
<![CDATA[News - Globex drills 128.38 g/t gold over 1 metre at North Star property ]]> https://ca.proactiveinvestors.com/companies/news/83393/globex-drills-12838-gt-gold-over-1-metre-at-north-star-property-24431.html Globex Mining Enterprises (TSE:GMX) said Thursday it intersected over 128 grams per tonne (g/t) gold over one metre on its wholly owned North Star gold property, located in Isaac's Harbour, Nova Scotia.

The drill result is from one of three diamond drill holes completed at the property, which cover a combined 811 metres.

Drilled to a depth of 536 metres, hole GNS-11-2 intersected one metre grading 128.38 g/t gold, and also intersected one metre grading 24.53 g/t gold.

Meanwhile, hole GNS-11-1, which was drilled to a depth of 139 metres, encountered two occurrences of visible gold, but returned only low-grade assays of 0.7 g/t gold over 1.05 metres, and 0.68 g/t gold over one metre, the company said.

These two holes were intended to test historical results completed in 1999 by Indocan Resources.

Hole GNS-11-3, however, was intended to test a magnetic anomaly encountered on the property by Globex in 2010. Drilled to a depth of 136 metres, the hole intersected no gold values, Globex said.

The Isaac's Harbour region of Nova Scotia is known to host numerous gold-bearing quartz veins, including three that run through Globex claims. The area had seen production during the late 1800s and early 1900s.

In January, Globex announced high-grade results from its wholly-owned Turner Falls rare earths project in Quebec.

Many of those samples returned high grades. The highest grade returned from a single sample found 9.29 percent total rare earth oxide (TREO).

Meanwhile, another single sample returned 1.32 percent heavy rare earth oxide (HREO) HREOs are rarer and more valuable than light REOs.

Rouyn-Noranda, Quebec-based Globex Mining is a development-stage Canadian mining exploration company with a North American portfolio of properties with gold, copper, silver, platinum, uranium, rare earth, nickel, magnesium and talc potential.

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Thu, 02 Feb 2012 15:49:00 -0500 https://ca.proactiveinvestors.com/companies/news/83393/globex-drills-12838-gt-gold-over-1-metre-at-north-star-property-24431.html
<![CDATA[News - Globex reports up to 9.29% TREO in grab samples at Turner Falls in Quebec ]]> https://ca.proactiveinvestors.com/companies/news/82874/globex-reports-up-to-929-treo-in-grab-samples-at-turner-falls-in-quebec-23597.html Globex Mining Enterprises (TSE:GMX) reported Tuesday best results from its grab sampling program at its wholly-owned Turner Falls rare earths project in Quebec.

The Quebec-based company completed a mapping, geophysics, and limited stripping and sampling program on the property in the summer and fall seasons last year.

The program, which was intended to sample a historical rare earth showing indicated from government geological files, involved the assaying of 331 rock samples and 139 boulder samples.

Many of the samples returned high grades. The highest grade returned from a single sample found 9.29 percent total rare earth oxide (TREO).

Meanwhile, another single sample returned 1.32 percent heavy rare earth oxide (HREO) HREOs are rarer and more valuable than light REOs.

The Turner Falls property consists of 16 contiguous claims totaling 942-hectares and rests mainly in the Villedieu Township, Quebec.

"We are very pleased with the progress achieved to date and are now considering various alternative approaches to continuing the project including but not limited to a diamond drill campaign, stripping and trenching the mineralized trends, or joint venturing or optioning the project," Globex said in a statement.

Globex Mining is a development-stage Canadian mining exploration company with a North American portfolio of properties with gold, copper, silver, platinum, uranium, rare earth, nickel, magnesium and talc potential.

In Toronto, Globex shares rose 15.2 percent to $1.44, as of 2:04 pm EDT.

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Tue, 17 Jan 2012 15:08:00 -0500 https://ca.proactiveinvestors.com/companies/news/82874/globex-reports-up-to-929-treo-in-grab-samples-at-turner-falls-in-quebec-23597.html
<![CDATA[News - Globex Mining provides Turner Falls exploration update ]]> https://ca.proactiveinvestors.com/companies/news/81992/globex-mining-provides-turner-falls-exploration-update-22137.html Globex Mining Enterprises (TSE:GMX) said Tuesday that over the late summer and fall seasons, the company undertook ground work and geophysical surveys on the Turner Falls rare earths property in the Kipawa area of Quebec.

Shares were up six cents, or 3.90 percent, to trade at $1.60 today on the Toronto Stock Exchange.

The Turner Falls property consists of 16 contiguous claims totalling 942-hectares and rests mainly in the Villedieu Township, Quebec.

Globex said more than 550 new data points of detailed geological observations were recorded and 230 new rock samples – both mineralized and un-mineralized rocks – were collected.

Of the 230 samples, roughly 51 grab samples were above the upper detection limit measurable using a mass spectroscopy method.

However, the company said these samples must be re-analyzed to accurately define the high assays by using four percent nitric acid dissolution. The company noted that grab samples are selective samples, and in this case, taken for assay due to anomalous readings taken in the field.

Globex said it will release results after the re-assays have been received and compiled.

In addition, the company said it discovered 10 new outcroppings of rare earths-bearing mineralization on top of those already located.

Globex Mining is a development-stage Canadian mining exploration company with a North American portfolio of properties with gold, copper, silver, platinum, uranium, rare earth, nickel, magnesium and talc potential.

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Tue, 06 Dec 2011 14:53:00 -0500 https://ca.proactiveinvestors.com/companies/news/81992/globex-mining-provides-turner-falls-exploration-update-22137.html
<![CDATA[News - Globex strikes deal to option-off Fontana gold project in Quebec ]]> https://ca.proactiveinvestors.com/companies/news/81457/globex-strikes-deal-to-option-off-fontana-gold-project-in-quebec-21117.html Globex Mining (TSE:GMX) says it has reached a definitive agreement to option its Fontana gold project in Quebec to Tres-Or Resources (CVE:TRS) in a deal worth $1.6 million.

The Rouyn-Noranda, Quebec-based company gained 6 cents, or 3.68 percent, to reach $1.69 per share Tuesday afternoon on the Toronto Stock Exchange.

Under the deal, Tre-Or will pay Globex $400,000 and will buy back a production royalty for $1.2 million over seven years. Tre-Or has already paid Globex a $25,000 non-refundable deposit.

In return, Tre-Or would acquire a 75 percent stake in 16 claims plus a 100 percent interest in a further six claims, collectively known as the Fontana gold project.

The Fontana property is northeast of Amos in Duverny Township in northwestern Quebec, and is near Tres-Or's advanced Duvay gold project, also under option from Globex.

Globex Mining is a development-stage Canadian mining exploration company with a North American portfolio of properties with gold, copper, silver, platinum, uranium, rare earth, nickel, magnesium and talc potential.

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Tue, 15 Nov 2011 14:19:00 -0500 https://ca.proactiveinvestors.com/companies/news/81457/globex-strikes-deal-to-option-off-fontana-gold-project-in-quebec-21117.html
<![CDATA[News - Globex Mining closes $530,000 private placement ]]> https://ca.proactiveinvestors.com/companies/news/80712/globex-mining-closes-530000-private-placement-19898.html Globex Mining Enterprises (TSE:GMX) announced Wednesday that it has completed a private placement raising $530,000, and plans to use the funds for exploration on its projects in Canada.

The miner sold 200,000 flow-through shares for a cost of $2.65 a share to three accredited investors residing in Ontario, the company said in a statement.

Globex paid no commission, and did not issue any warrants or broker warrants tied to the financing. However, the securities issued have a hold period that expires on February 19, 2012.

Proceeds will be used for exploration on its projects in Quebec, Ontario, Nova Scotia as well as New Brunswick.

In other news, Globex said that with regards to its royalty interest in the Getty lead-zinc deposit in Nova Scotia – which is owned by Selwyn Resources (CVE:SWN) – it expects to see delay in development and potential royalty payments, as Selwyn announced earlier this week it terminated a proposed $30 million senior bond financing.

Globex Mining is a development-stage Canadian mining exploration company with a North American portfolio of properties with gold, copper, zinc, silver, platinum, uranium, rare earth, nickel, magnesium and talc potential.

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Wed, 19 Oct 2011 16:09:00 -0400 https://ca.proactiveinvestors.com/companies/news/80712/globex-mining-closes-530000-private-placement-19898.html
<![CDATA[News - Globex provides updates, several projects advance ]]> https://ca.proactiveinvestors.com/companies/news/80559/globex-provides-updates-several-projects-advance-19642.html Globex Mining Enterprises (TSE:GMX) provided updates to several of its properties and assets on Thursday, including the recently released results of its Woodstock mine in New Brunswick.

At its wholly owned Timmins Talc-Magnesite project, located 13 kilometres southeast of Timmins, Ontario, Globex is continuing with its prefeasibility study (PFS). Primary costing and process design have been received. The company said it has decided to undertake large scale testing of this process technology, as well as two other process technologies identified that could results in cost savings.  A nine tonne bulk sample has been taken and sent for crushing and grinding. Once adequately prepared, test work will begin, with $300,000 having been budgeted for this work.

Globex also provided an update in matters regarding the potential spin-off of its Chibougamau land package. In January, it commissioned an NI 43-101 compliant technical report for the property, which it received in May. After pulling out of an acquisition deal due to market disruption, Globex said it planned to spin-off the property asset as a new company called Chibougamau Independent Mines, at which time other companies expressed interest in the asset.

Since then, Globex has decided to review all options, including those from outside parties. In the mean time, it is purchasing additional claims, enlarging the size of its Berrigan and Grandroy Mine properties, and staking additional mineralization to the south of Chibougamau.

Globex also said it has completed test work for other companies, through its Eco Refractory Solutions Inc technology asset. Test work for those companies has been successful, with gold recoveries as high as 98%. However, Globex said it has not been successful in carrying the work forward. It said it is continuing to try to acquire both refractory gold deposits and tailings assets so as to better utilize and showcase this asset.

In other news, the company said it has added several gold and base metals assets to its portfolio, including the Pandora‐Wood, Farquharson, Beacon, Tonnancour and Donalda properties, where it has undertaken drill programs. At Tonnancour, Globex intersected up to 5.2% copper, 13.1% zinc, 0.7 grams per tonne (g/t) gold and 41.0 g/t silver over 4.55 metres.

The Pandora-Wood property returned significant gold values, including 28.86 g/t gold over 4.9 metres in the Cadillac Fault. Meanwhile, at the Beacon property, Globex said it found a new gold discovery, with a core length of 2.9 metres grading 5.19 g/t gold.

At its manganese-iron property near Woodstock, New Brunswick, Globex identified four wide zones of mineralization, totaling 116.54 metres of manganese and iron.

In hole GNB11-2, intercepts included 19.24 metres of 10.18% manganese and 15.48% iron in horizon A; 19.92 metres of 11.17% manganese and 16.75% iron in horizon B; 20.72 metres of 10.45% manganese and 12.51% iron in horizon C; and 48.3 metres of 9.8% manganese and 13.9% iron in horizon B+C, which includes lower grade material between the B and C Horizons.

Activity is also booming at several of Globex's properties that have been optioned to partners, including the work done on Duquesne West in Quebec by Xmet (CVE:XME), who announced on September 8 an upgraded NI 43-101 compliant inferred mineral of 4,171,000 tonnes grading 5.42 g/t Au hosting 727,000 cut ounces of gold.

Earlier this month, Globex announced a $1.3 million dollar financing at well above the current market price. The company said funds will be spent on projects in Quebec, Ontario, Nova Scotia and New Brunswick.

In Toronto, Globex shares closed flat at $1.60.

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Thu, 13 Oct 2011 16:25:00 -0400 https://ca.proactiveinvestors.com/companies/news/80559/globex-provides-updates-several-projects-advance-19642.html