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GLOBEX seeks to create shareholder value by acquiring mineral properties, enhancing them and either exploring, optioning or joint venturing them, developing them to production, or in some cases selling projects outright.
In addition to acquiring and optioning properties, we explore our own properties to the tune of $2 million or more per annum. Likewise our option partners spend significant exploration dollars on our properties as part of their efforts to acquire an interest in the projects.
Unlike most other junior exploration companies, Globex owns its properties many of which are available for option. Globex presently holds more than 100 land packages all of which have either resources or reserves (both NI 43-101 and non-NI 43-101), mineralized drill intersections, mineral showings or untested geophysical targets or a combination thereof, and are located in Quebec, Ontario, Nova Scotia, New Brunswick, Tennessee, Nevada and Washington.
The Company has grown without diluting shareholders by optioning land packages from its inventory of properties for cash and shares while retaining royalties on future production. Option partners assume the exploration risk thus allowing Globex to conserve its cash reserves and preventing unnecessary shareholder dilution.
Globex Mining Enterprises Inc. was incorporated over 60 years ago. Originally called Lyndhurst Mining Co. Ltd., the Company was founded in 1949 in order to bring the Lyndhurst Copper Mine into production. After Lyndhurst reached production, falling copper prices eventually forced its closure. Numerous attempts to revive the Company over a period of 20 years failed and finally it became inactive.
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 Stoch 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 (GMX) on December 29, 1995 and delisted from the Montreal Stock Exchange on December 12, 1997. The Company is also listed on five German exchanges including the Frankfurt, Munich, Berlin, Stuttgart and Xetra Stock Exchanges (G1M). In the U.S.A. Globex is listed on the OTCQX International Exchange (GLBXF).