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An announcement from Globex Mining Ent ( (TSE:GMX) ) is now available.
Globex Mining Enterprises Inc. announced that Antimony Resources Corp., which has an option on the Bald Hill Antimony Project in New Brunswick, Canada, has filed a NI 43-101 Technical Report indicating potential for 2.7 million tonnes at a grade of 3% to 4% antimony. This could yield between 81,000 and 108,000 tonnes of contained antimony, doubling previous estimates. Antimony Resources Corp. is conducting further drilling to potentially establish a maiden resource estimate, which could significantly impact the project’s economic viability and Globex’s market positioning.
Spark’s Take on TSE:GMX Stock
According to Spark, TipRanks’ AI Analyst, TSE:GMX is a Neutral.
Globex Mining Ent’s overall score reflects a mixed outlook. Strengths include a debt-free balance sheet and positive corporate developments in resource expansion. However, the high valuation and technical indicators suggest caution. Financial volatility remains a significant risk.
To see Spark’s full report on TSE:GMX stock, click here.
More about Globex Mining Ent
Globex Mining Enterprises Inc. is a mining company operating in North America, primarily engaged in the exploration and development of mineral properties. The company is listed on multiple stock exchanges, including the Toronto Stock Exchange and OTCQX International in the US.
Average Trading Volume: 49,593
Technical Sentiment Signal: Buy
Current Market Cap: C$97.61M
Learn more about GMX stock on TipRanks’ Stock Analysis page.