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October 21, 2009 marked the 60th year of existence for Globex Mining Enterprises Inc. The Company, originally called Lyndhurst Mining Co. Ltd., was founded in 1949 in order to bring the Lyndhurst Copper Mine into production. Falling copper prices, once Lyndhurst reached production, eventually closed the mine. The Company tried various exploration projects for several years with no success and eventually became inactive and was delisted.
In 1974, a new group gained control of the Company, reorganized it one for ten and changed the name to Globex Mining Enterprises Inc. Unfortunately they did not succeed in refinancing the Company and it continued inactive until 1983 when Jack Stoch, a Rouyn-Noranda based geologist, gained control of the shell.
Jack brought in a group of exploration professionals as directors, acquired properties of merit and succeeded in listing the Company on the Montreal Stock Exchange on January 21, 1988. Globex subsequently listed on the Toronto Stock Exchange on December 29, 1995 and delisted from the Montreal Stock Exchange on December 12, 1997.
Globex has slowly and steadily expanded its property portfolio to include properties in Quebec, Ontario, Nova Scotia, British Columbia, Nevada and Washington.
Unlike most other junior exploration companies, Globex owns most of its properties which are available for option. Globex presently holds more than 90 land packages all of which have either resources or reserves, mineralized drill intersections, showings or untested geophysical targets or a combination thereof.
Globex has suceeded in growing by optioning properties for cash and shares while retaining royalties on eventual production. Using the option and royalty model has allowed the Company to grow while not diluting shareholders.
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