- NSGold Corp. has been sold to Atlantic Mining NS Inc. a wholly owned subsidiary of St Barbara Ltd.
- Atlantic Mining NS Inc. operates the Moose River Consolidated Gold Mine 13 km from NSGold’s Mooseland Gold Mine property
- Globex’s shares valued at $0.40 per share are being purchased realizing an immediate gain for Globex of over $698,000
- The property has additional gold exploration potential both at the mine site and further afield
- Globex Mining Exterprises Inc. (GMX) is up 5.56 per cent, trading at C$1.33 at 11:11 am EST
Globex Mining Enterprises (GMX) subsidiary NSGold Corp. has been sold to Atlantic Mining NS Inc. a wholly-owned subsidiary of St Barbara Ltd.
Atlantic Mining NS operates the Moose River Consolidated Gold Mine 13 km from NSGold’s Mooseland Gold Mine property.
The Mooseland Gold Mine was acquired by NSGold from Globex and through a series of transactions, Globex retains 1,745,408 NSGold shares and a two per cent Gross Metal Royalty.
Under the NSGold/St Barbara transaction, Globex’s shares valued at $0.40 per share are being purchased realizing an immediate gain for Globex of over $698,000.
The Mooseland Gold Mine Property has an inferred Resource per an update NI 43-101 Resource Report titled “Updated NI 43-101 Resource Report for the Mooseland Gold Property, Halifax County, Nova Scotia, dated September 16, 2020, by Wm. Douglas Roy, M.A.Sc., P. Eng. And Patrick J.F. Hannon, M.A.Sc., P.Eng., MineTech International Limited, Halifax, Nova Scotia.”
Globex retains a two per cent Gross Metal Royalty on all production from the property.
Globex expects that the zones will be bulk tested and mined with the material processed at the nearby Moose River mill.
The property has additional gold exploration potential both at the mine site and further afield. Underground access is already available on the property via a shaft and a more recent ramp.
Globex Mining Exterprises Inc. (GMX) is up 5.56 per cent, trading at C$1.33 at 11:11 am EST.
