Tuesday 11th December 2018

Resource Clips

Posts tagged ‘Globex Mining Enterprises (GMX)’

Caution steadies the hand for Canada’s top miners: PwC

March 1st, 2018

by Greg Klein | March 1, 2018

Last year saw “few eye-popping deals and only limited financing activity” as TSX-listed mining companies responded cautiously to improved markets, according to a new PricewaterhouseCoopers report. Like many of their peers internationally, the big board’s top 25 miners focused on “paying down debt, improving balance sheets and judiciously investing in capital projects as commodity prices largely stabilized.”

The findings come from Preparing for Growth: Capitalizing on a Period of Progress and Stability, released March 1.

Gold, the raison d’être for most of the miners, fell 3% during the year ending September 30. During that period the 225 TSX-listed miners (down from 230 the previous year) lost 4% of their aggregate value, compared with a 10% combined improvement for other sectors. Miners slipped to a 9% share of the entire TSX market, compared with 11% the previous year, holding ninth place among industries on the exchange. (Financial services came in first.)

Barrick Gold TSX:ABX, still the world’s top gold producer despite Newmont Mining’s (NYSE:NEM) challenge, held top place among TSX mining market caps as of September 30. The top stock was Kirkland Lake Gold TSX:KL, with a 175% price increase over the full year, following its billion-dollar takeout of Newmarket Gold. The acquisition represented part of a trend of “mid-market, intermediate gold companies looking to build scale and gain efficiencies through consolidation,” said John Matheson of PwC Canada.

Two since-merged companies, Potash Corp of Saskatchewan and Agrium, followed Barrick with second and third place among TSX mining valuations. Currently at about $41 billion, the potash combination Nutrien Ltd TSX:NTR has far surpassed Barrick’s $16.8-billion market cap.

Nearly half of the 225 companies had valuations of $150 million or less. But the category between $150 million and $1 billion boasted 74 companies, compared with 59 the previous year.

Nineteen of the top 25 had exposure to gold, 10 to copper, seven to zinc, six to silver and four to nickel, PwC stated. The report noted increasingly bullish sentiment for copper, zinc, cobalt and lithium. The latter mineral did especially well for five companies, with an approximately 39% total increase in valuations over nine months to September 30 for Orocobre TSX:ORL, Lithium Americas TSX:LAC, Nemaska Lithium TSX:NMX, Avalon Advanced Materials TSX:AVL and Globex Mining Enterprises TSX:GMX.

But overall, TSX miners “raised only half the equity capital in 2017 that they did the previous year. And for the second consecutive year, there were no mining initial public offerings on the TSX.”

That contrasts with a more buoyant, although still cautious mood among Venture-listed junior miners reported in November by PwC, which found a substantial increase in market caps, financings, M&A and IPOs for TSXV explorers.

Download Preparing for Growth: Capitalizing on a Period of Progress and Stability.

Globex, Queenston report Quebec Gold Assays of 28.86 g/t over 4.9m

October 12th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningGlobex Mining Enterprises Inc TSX:GMX in joint venture with Queenston Mining Inc TSX:QMI announced results from the Wood-Pandora joint venture property in Cadillac Township, Quebec. Highlights include

8.2 g/t gold over 1 metre
3.8 g/t over 1.5 metres
3.88 g/t over 6.5 metres (including 16.8 g/t over 1 metre)
28.86 g/t over 4.9 metres (including 121.7 g/t over 1.1 metres)
6.35 g/t over 1 metre
3.6 g/t over 2.8 metres

The property is owned 50% by Queenston, 50% by Globex. The Wood-Pandora Property has an historic, non-NI 43-101 compliant inferred mineral resource estimate of 1.43 million tonnes grading 5.3 g/t gold.

View Company Profile

Globex Mining Enterprises Inc
Jack Stoch

or Queenston Mining Inc
Charles E. Page

by Ted Niles

NSGold report NS Gold Assays including 122.15 g/t over 2.2m

April 19th, 2011

NSGold Corporation TSXV:NSX announced results from the Mooseland Gold Project in Halifax County, Nova Scotia. Assays include 122.15 g/t gold over 2.2 metres (including 243.73 g/t over 1.1 metres) and 36.93 g/t over 2 metres (including 61.18 g/t over 1.2 metres). Globex Mining Enterprises Inc TSX:GMX retains a 4% gross metal royalty and the right to receive shares equal to 5% of the issued stock of NSGold upon commercial production and an additional payment of $250,000 September 1, 2011.

The Mooseland Project has an historical, non-NI 43-101 compliant, indicated mineral resource estimate of 858,000 contained ounces gold.

View Company Profile

Glenn A. Holmes

by Ted Niles