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Last C$0.22 CAD
Change Today +0.005 / 2.38%
Volume 2.0K
As of 11:33 AM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

globex mining enterprises (GMX) Snapshot

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globex mining enterprises (GMX) Details

Globex Mining Enterprises Inc. engages in the acquisition, exploration, and development of mineral properties in North America. It has a mineral portfolio of approximately 120 early to mid-stage exploration and development properties containing base metals, including copper, nickel, zinc, and lead; precious metals comprising gold, silver, platinum, and palladium; specialty metals and minerals consisting of manganese, titanium oxide, iron, molybdenum, uranium, and lithium, as well as rare earths and associated elements; and industrial minerals, such as mica, silica, potash, salt, and apatite, as well as talc and magnesite. The company is headquartered in Toronto, Canada.

globex mining enterprises (GMX) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$51.3K
Chief Financial Officer, Treasurer and Corpor...
Total Annual Compensation: C$174.5K
Vice President of Operations
Total Annual Compensation: C$73.4K
Executive Vice President and Director
Total Annual Compensation: C$52.2K
Compensation as of Fiscal Year 2014.

globex mining enterprises (GMX) Key Developments

Globex Mining Enterprises Inc., Annual General Meeting, May 28, 2015

Globex Mining Enterprises Inc., Annual General Meeting, May 28, 2015., at 11:00 US Eastern Standard Time. Location: The Offices of the Corporation. Agenda: To receive and consider the consolidated financial statements of the corporation for the fiscal year ended December 31, 2014 and the auditor's report thereon; to elect directors; to appoint auditors and authorize the directors to fix their remuneration; and to transact such other business as may properly be brought before the meeting.

Globex Mining Enterprises Inc. Auditor Raises 'Going Concern' Doubt

Globex Mining Enterprises Inc. filed its Annual on Mar 10, 2015 for the period ending Dec 31, 2014. In this report its auditor, Deloitte & Touche LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

Globex Mining Enterprises Inc. Announces Exploration Update

Globex Mining Enterprises Inc. announced exploration update. The Mid Tennessee mine operated by Nyrstar continues to generate royalty income for Globex despite several problems at the mill which limited production for extended periods during the year. These problems seem to have been cleared up and production is ramping up. To date, since January, The company had received approximately CAD 835,413.00 in royalty payments based on zinc prices varying from CAD 0.91 CAD 0.92 per pound in the first six months of the year and CAD 1.03- CAD 1.05 per pound for the following five months. It is company's expectation that baring additional mill problems, production will increase and zinc prices will continue to rise as projected by many mining analysts. On the exploration front in the past months, the company undertook a number of exploration programs. The first on Eagle Gold property consisted of two drill holes one of which intersected 5.39 g/t Au over 4.8m. This intersection extends a known zone and suggests additional drilling is required. The company then drilled two holes on company's Poirier Mine property. One hole intersected massive sulphides much closer to surface than anticipated suggesting more complex folding than originally thought. Hole P-14-002 intersected 4.95% Zn and 8.95 g/t Au over 6.47m including 7.48% Zn and 12.61 g/t Ag over 3.23m. At the company Lyndhurst property, re-evaluated deep stratigraphic drilling at the "Moses" VMS zone and the under- explored eastern half of the property. The company also undertook rehabilitation work related to previous exploration activity by Globex. More work is contemplated at a later date. On the Nordeau East and Nordeau West properties, the company reviewed all the previous drilling by Plato Gold Corporation and sampled 1,500 metres of previously unassayed core. The best single new assay was 8.13 g/t Au over 1 metre. Two mineralized zones in hole PG-06-21 returned 1.50 g/t Au over 11.8m and 1.13 g/t Au over 9.0m. More work is warranted. A 645m four hole drill program was undertaken in the Smith gold zone area of the Smith Zulapa property. The best result was 5.97 g/t Au over 1.5 metres in hole SZ-14-04. The historical zones of mineralization were extended but as often occurs in areas of free gold, gold values are erratic. Again, more work is warranted. At the Turner Falls rare earth property, additional core was assayed returning anomalous results. Recently, the property was enlarged encompassing at least two additional areas of high grade rare earth mineralization. As regards the Wood Pandora property, the company recently met with the new joint venture partners, Yamana Gold Inc. a Agnico Eagle Mines Limited that participate in the Wood Pandora Joint Venture under Canadian Malartic Corporati following the takeover of Osisko Mining Corporation. A joint venture meeting was held to plan company's next drill progr and discussed other topics such as various options to develop the Ironwood gold deposit. One drill hole was done order to meet assessment requirements on the Amm mining concession. The best results were 16.83 g/t Au ov 0.6m and 6.08 g/t Au over 1.5m.


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