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Globex Mining Ent ( (TSE:GMX) ) has provided an announcement.
Globex Mining announced that Lincoln Gold Mining Inc. has acquired the Bell Mountain Project in Nevada, which is set to advance the gold royalty project with construction expected in the next 8 to 10 months. This development is significant for Globex, as they hold a royalty agreement based on gold prices and receive annual advance payments, potentially enhancing their revenue stream. Additionally, a Preliminary Economic Assessment (PEA) has been filed, projecting robust cash flow with a gold price of $2,200/oz, indicating a promising economic outlook for the project.
More about Globex Mining Ent
Globex Mining Enterprises Inc. operates within the mining industry, focusing on the acquisition and royalty management of mineral properties. The company primarily deals with gold and operates across various stock exchanges, including the Toronto Stock Exchange and OTCQX International in the US.
YTD Price Performance: 7.69%
Average Trading Volume: 37,784
Technical Sentiment Consensus Rating: Sell
Current Market Cap: C$70.64M
Learn more about GMX stock on TipRanks’ Stock Analysis page.
