Globex Shares Triple – More To Come

Globex Mining Enterprises Inc. (CA: GMX – $0.77 & US: GLBXF – $0.59 & GER: G1MN – €0.48) is a North American focused exploration and development project generator. The Company has an exceptionally well-diversified portfolio of assets with exposure to a wide range of commodities.

The value proposition for Globex is enhanced by the strategy to build diversification amongst the holdings of the Company. This means that management is working to establish ownership of multiple properties, in different jurisdictions, and with leverage to many resources. Globex currently controls approximately 193 properties and/or property royalties.

Globex has a share buyback program in place with which it can repurchase up to 1 million of its own shares in the public market. This is an extension to two previous programs, during which Globex repurchased and cancelled a total of 1,583,500 shares.

In the first three quarters of 2020, Globex has reported net income of $7.3 million generated from successful property transactions and royalty payments. This has contributed to a superb balance sheet, bolstered by more than $10 million in working capital and no debt.

Globex is among the leaders in the entire sector in terms of exploration work commitments, and control of a large number of diversified property interests available to form future partnership opportunities. It should come as no surprise that shares of Globex have now tripled in value during just the last year.

Moreover, a promising resource bull market is underway. This has the effect to build value for the ownership interests controlled by Globex in addition to the direct revenue that may be generated by future property transactions and royalty income. The value proposition is further enhanced through the impressive number of high quality properties directly controlled by the Company. With one of the largest portfolios of exploration prospects among all of the junior resource companies in Canada, Globex represents the ideal profile for shareholder value creation.

We reiterate our buy recommendation for Globex Mining Enterprises with a price target of $2.10, which is 172% above today’s stock price.

Download the first quarter 2021 Globex Mining Company Report. Advice: BuyPrice Target: $2.87Latest Company Report (pdf)
For important disclosures, please read our disclaimer.

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