Strong Price Target Increase for Globex Mining
Globex Mining Enterprises Inc. (CA: GMX – $1.26 & US: GLBXF – $01.00 & GER: G1MN – €0.89) 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.
By accumulating out of favor properties when resource markets were down, the Company is now fully leveraged to the ongoing resource bull market with one of the most diverse portfolios of attractive projects in the junior mining sector. This success builds further value through minority ownership positions that Globex holds in many of the partner companies.
The new year has started off well for Globex with very positive news items reported by several of its transaction partners. Exceptional drill core assay results continue to be presented by Starr Peak at NewMetal, Voyager Metals has ambitions to build a mine at the Mont Sorcier property, and Maple Gold is committed to build the gold resources of its core holdings, including the Eagle Mine property.
Globex maintains one of the largest property portfolios in the junior mining sector. The suite of property and royalty holdings currently comprised of 204 packages. This combination of a vibrant mix of property and royalty holdings and the lavishly funded treasury of over $30 million (pre-tax) has contributed to a strong market performance.
Although Globex’s stock price has already risen 200% since July 2020, there are many positive catalysts in play that support a much higher share price still. Shareholders may look forward with confidence to the future. Globex continues to build leverage to high quality properties and a wide range of resources to build further value in the years ahead.
We reiterate our buy recommendation for Globex Mining Enterprises with a price target of $2.87, which is 115% above today’s stock price.
|Smallcaps.us Advice: Buy||Price Target: $2.87||Latest Company Report (pdf)|
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