Why Just One of Globex’ 150 Assets Justifies Its Current Market Capitalization – Globex Mining CEO Jack Stoch Explains
The resource sector is picking up speed again. Especially zinc and copper prices have gone up significantly. And also gold and silver have clearly come off their lows after several dreadful years for most companies in the industry. Indeed, most companies, not all.
Take, Globex Mining Enterprises Inc. (TSX:GMX – $0.53 & Fra:G1MN – €0.34 & OTCQX:GLBXF – $0.34) for example. The Company refers to the past bear market saying: “We couldn’t have asked for a better time to acquire assets, because most companies couldn’t raise enough money to renew their claims. Consequently, we were able to acquire those, often valuable, assets at minimal cost”.
We were very pleased to sit down with Mr. Jack Stoch, the President and CEO of Globex Mining to find out more about this extraordinary strategy. Globex is a very solid and well-diversified Company in the mining and exploration sector, as it owns close to 150 properties, many of which are optioned out to other companies in exchange for cash, shares and royalties.
The CEO extensively talks about what exactly separates Globex from other resource companies. He also explains how Globex is able to find all those attractive properties, while others aren’t and why all of them are located in North America.
The interview also covers some of the most attractive properties that Globex owns. We also find out why just one of the Company’s 150 assets would justify its current market capitalization.
In addition, Mr. Stoch reveals that he recently discovered a magnetic signature on a map that looked like a kimberlite pipe signature – an igneous rock best known for sometimes containing diamonds. Crews will be going in very shortly to do a detailed ground magnetics and electromagnetics survey. Mr. Stoch further shares that this is a very exciting opportunity for Globex, because it has the right signature, the right geology, the right age, and it is located in a corridor where there is a producing diamond mine.
The CEO further describes that although revenue from royalties has been soft the past few years, this is bound to change, as companies are again able to raise money to develop their projects and to pay their royalties. He describes that Globex is expected to receive about $550,000 in royalty payments in the next month or two. Moreover, the Company stands to receive over $1.5 million per year as soon as Nyrstar puts its Mid Tennessee Mine back into production, which is expected later this year.
Access our interview by clicking the play button on the media player below,
or download our convenient transcript.
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