Globex Mining- Startschuss ??? (Seite 1482)

[crystalsonic]

Antwort auf Beitrag Nr.: 42.878.580 von crystalsonic am 09.03.12 16:22:44

Ich hab Euch zur WE-Lektüre noch mal nen Auszug aus dem MetalAugmentor-Forum über den Messe Auftritt von Globex in Cambridge im Februar 2012 reingestellt - Quelle ist wie im vorletzten Post von mir aber nicht "PDAC 2.Day" sondern unter Comments bei Vancouver wen's interessiert - Neuigkeiten sind keine Großen dabei aber die Diskussion ähnlich wie bei uns:

"February 13, 2012 at 11:17 pm
#1 Globex’s presentation @ Cambridge was jaw dropping in terms of the value that this company brings to the table. Picture a company run by boots on the ground geologists that has been in business for some 25 years and which has accumulated over 100 properties not including their 16 royalty -property package. I was told that “none of it is moose pasture”; many of the props have 43-101s. All their properties are in Quebec, Ontario and the U.S.

After 25 years they have under 25 million shares issued, fully diluted -with no share roll backs, ever. This is pretty unbelievable. They expect to do about $4m in optioning / royalties and perhaps the odd sale of property in the coming year to fund operations. (And that’s how you do it).

They were going to spin out their Chibougamau property last year, but this got interrupted by market turbulence last year when a co that paid them for the right to take a crack at it (as long as the shareholders did as well or better than the spinout they had envisioned) n lieu of the spinout they had in mind got affected by market turbulence, and nothing ended up happening. They will do it by the end of this year in what they hope to be a tax efficient manner. I’m hoping Tom can give us his take on Chibougamau which from the presentation contains 7 former copper gold mines…. Management seems genuinely excited about it what they have and they are intent on giving back to their shareholders.

They have a bright talc / magnesite property whichwill be the subject of a PEA (NR expected before PDAC) and I’m really looking forward to that release. China is reducing the amount of bright talc it is exporting and GMX has sales people out there soliciting interest and getting it. N.American users of bright talc are looking for alternative, reliable resources and it seems GMX may have what they are looking for.

They entered into an agreement with their partner in the talc project to use their refractory technology on refractory gold. Limited tests of their eco – friendly process have returned up to 98% recoveries. I can’t imagine its a slam dunk or anything like that, but somehow I don’t think we’ve heard the end of this, another potential spin out company (but let’s not get too far ahead of ourselves).

They issue many NRs a year and one recent one issued in December 2011 really catches my attention; and it is an agreement w/ stockhouse to provide coverage. There has been no SH coverage yet, so company is still very much under the radar. With a share price of $1.30 and a market cap of $30 million (and which has traded over $6 back in 2007) I think this company provides an excellent risk/reward.

I don’t think it is just a trade however. I like these guys and I’m thinking about what this company and the spinouts will do for my portfolio in a few or five years. Hmmm…

Reply
joey February 14, 2012 at 05:53 pm
#2 @31Floors

31Floors, thank you for introducing Globex Mining (GMX.to), which DOES look interesting.

I had never heard of Globex – not surprising, I reckon, in light of management’s tight control of share structure, self generating cash, frugality, and apparent refusal to enhance the lifestyles of brokers and investment bankers and to showcase its projects to newsletter writers and other promoters with expenses paid site visits or financial perks – hence, no coverage! Truly an outlier to have less than 25mill shares fd without rollback or consolidation after 25years of operation.

I’m noting that there were 2 recent flow through share issues, at $2.65/share, which closed on 30sept11 and 18oct11, when the immediately preceding closing prices of the shares were $1.55 and $1.56 – so, placements at a big premium! (and like flow through share issue premiums commanded by ER.to and VGQ.to).

I’ve just been looking at the most recently filed MD&A, notably that dated 26oct11 for Q3FY11, ended 30sept11, and have picked up this detail:

“On May 12, 2011, the Quebec Government introduced Bill 14 which seeks to amend Quebec’s Mining Act. Globex holds its properties under this Act. Globex has completed a preliminary analysis of the proposed changes. Management believes that a number of measures being adopted by the Quebec Government may have a negative impact on a number of Globex’s Quebec assets. Firstly, companies will no longer have the right to enter upon land where the surface rights are privately owned. Previously, mineral rights, which are real property rights, put us on an even footing with surface rights owners so accommodations were always made and settlements reached. This will no longer be the case. Under the proposed legislation, access to properties may be delayed or refused completely. Despite the possible inability to access our mineral rights to do work, the Government of Quebec intends to still require us to pay taxes and submit assessment work. If we cannot do the required assessment work, the Government has decided to penalize the industry further by doubling the amount to be paid in cash in lieu of work. Further, the Quebec Government has refused to set up any type of arbitration system which could mitigate these problems.

Secondly, the Quebec Government previously designated urbanized areas as requiring municipal approval
before exploration or mining could be undertaken. The industry generally supported this move as sensible.. Unfortunately, the Quebec Government, without consultation, has designated large lightly populated areas of the province “villégiature” loosely translated as “rural population”. In these areas, all exploration and mining will be suspended without the prior approval of municipalities and the appropriate provincial government agencies. In addition, under the proposed rules, municipal approval as well as Government approval must be obtained prior to acquiring mineral rights. Unfortunately, this makes the acquisition of mineral rights in these areas subject to local politics and the potential for a lack of objectivity and fairness whereas the previous system was an unbiased first come first served system. Oversight will now be by parties unwilling and/or technically unable to effectively manage their new mandate.

In addition to the new mining laws, the Quebec Government announced a “Plan Nord”, an ambitious plan that envisions removing 50% of the large area covered by the plan from any type of industrial activity. At this time, Management does not know what this will mean to companies working in the area nor how the Quebec Government will decide upon which areas will be withdrawn from development.
.
These measures and many others in the new law and Plan Nord have become important risks when doing
business in Quebec and Globex is reassessing its expenditures in the province as well as other possible courses of action. Further details are outlined under Risks and Uncertainties page 21.”

31Floors, having scrolled through GMX’s most recent web posted Investor’s Presentation and NR’s subsequent to the Q3 MD&A, I have found no updates on this issue. Perchance, did this come up when you were engaged with the GMX folks at the Vancouver Show? Do you have any additional colour on how GMX will be impacted by Quebec’s new mining law?

Again, thanks for the ‘heads up’. An interesting prospect to consider.

silverax February 14, 2012 at 06:54 pm
#3 @joey

The amendment to Quebec Mining Law is still in proposed stage and one would hope some of the more unworkable provisions will be modified or eliminated. In general I don’t think requiring surface owners to provide their consent is all that controversial but there are still many issues such as the proposed legislation providing no avenues for problem resolution (and it will create many problems that need to be resolved). Will be interesting to watch developments especially with Quebec already having fallen from top status as a friendly mining jurisdiction.

@31Floors

Was aware of Globex but not how much the share price has gone down — seems like there is quite a bit of long term value at such levels. One thing I’d like to see them do is prioritize and get some attention on the truly valuable projects — continue to JV or otherwise monetizing them over time while retaining substantial upside in the form of a royalty or working interest. They also need to make sure all partners on these projects are capable of doing the proper work and credible in the eyes of the market. If they had a world class project and a capable partner to do this in the past years on just ONE project, they would not be trading at these levels (though I vaguely recall a spinoff that returns quite a bit of value to shareholders — can’t recall exactly). So as much as the company seems like quality and the management is earnest, they need to really get on board with the speculative potential of junior exploration because a sleepy technical project generator isn’t going to get much attention in this market (or any manic market to come). I may be speaking too harshly and in general terms … without having spent that much time going back through their material, just recalling my impression of looking at them in the past — so please correct me where I’m wrong. In any case, I don’t disagree about the long-term value and a stock like this could easily find a spot in a long-term oriented commodity portfolio.

Dave February 15, 2012 at 12:41 am
#4 @silverax

silverax :they need to really get on board with the speculative potential of junior exploration because a sleepy technical project generator isn’t going to get much attention in this market (or any manic market to come). I may be speaking too harshly and in general terms

I took the new stockhouse coverage as enough of an indication that they wanted to get out there a bit (PDAC / talc PEA event would be an initial focus presumably) – you don’t rate stockhouse for this or just think that isn’t sufficient? I did see that as enough of a nudge to turn any initial holding into an early (maybe small) gainer that would give breathing space for further consideration.

And thanks also to 31Floors and joey for the insights.

31Floors February 13, 2012 at 11:26 pm
#5 By the way the symbol is GMX Globex and here’s the site. You get a real good feel for how hardworking and sincere management is when you go through 10 years of NRs as I did. I know they are super frustrated and want to reward their loyal shareholders. I don’t recall any placements nearly as cheap as what the stock is trading at now, so I think they are pretty anxious to see their shareholders rewarded. And besides management owns a lot of shares so their interests are aligned.

http://www.globexmining.com/presentation.htm

Reply
31Floors February 15, 2012 at 09:23 am
#6 Thanks for the comments and if I didn’t I will disclose that after catching the show, I made GMX my largest investment in my basket. In other words I like it and I own it. My good luck was that I timed it with a fund unloading their position at $1.20 and I couldn’t believe what i was getting for $1.20 and a little more. I’m rather shocked that this am the ask is $1.30!! GMX was trading as high as $6+ in 2007 with a SIMILAR no. of shares o/s at the time. I don’t recall off hand it that was before or after they acquired the talc property but I know gold was a lot cheaper – but that was before Bill 14.

I asked about Bill 14 and Jack was definitely not happy, I’d say quite irritated about it and had made his views known. I asked about the talc/magnesite project impact and of course he reminded me that it was in Ontario. (duh) I don’t recall exactly what he said about Chibougamou but that won’t won’t be a problem (anyone calling him up should get further clarification and perhaps post it here!). I did ask about how many props might be impacted and he gave me a low-ish no. but I won’t post or discuss privately, that because that is not fair. I imagine this is the kind of thing that is very difficult to determine, the no. would change all the time and it isn’t for me to attach a no. to the potential exposure. That’s up to him to discuss w/ you.

Environmentally we can all see if we wish to look the world going to H in the proverbial hand basket. I am sure there are some mining horror stories left by defunct mines throughout Quebec. So my personal view is that you have to have safeguards, you need to take care of the earth and not when it is just convenient to your personal finances. That said it seems that Bill 14 has gone to far to ‘power to the municipalities and the loud voices’, and can leave many projects hanging there, when a yes or no would do and is preferable. i.e don’t waste my time and my limited resources.

The legislation makes one of the life-bloods of the Q. treasury and the communities in a very difficult situation in many cases. It is not hard to see amendments and back pedalling on the proposed legislation. With so many properties much of it in Quebec mining company, I have to think that worse case Bill 14 has been priced in in the share price – and more. I think.

In terms of market exposure I’m just trying to put two and two together. I read the SH coverage that they had signed on for and which has not begun w/ any story. The talc/magnesite PEA is coming out any day now and before PDAC. PDAC is coming in early March. So this is just me talking and I’m going to take a stab the answer is 4. The Chibougamau camp looks extremely prospective and interesting. The refractory gold project needs to be read twice and while I think this can’t be anything like a slam dunk, at the very least I think it makes for an extremely interesting project.

The main take away is that, actually, I like the president / management and I think their record proves they are sincere and honest operators and are doing their best. In terms of the share price he made clear he was very frustrated by it. I suggest contact him directly if you have questions as he’s a very personable fellow and welcomes calls.

Reply
31Floors February 15, 2012 at 09:41 am
#7 By the way after speaking to Jack on the subject I expect the bright talc PEA results to be good, how good we will need to wait for the NR. No details, no numbers the way it should be. I did some minor DD on the US Geological Society talc figures which were not inspiring and low quality talc such as sold by Canada Talc which closed its doors recently has very different supply/demand fundamentals from the bright talc mineral that these guys own. Roskill is quoted in the talc/magnesite presentation that is there on the site and apparently Roskill is one of perhaps two ‘go to companies’ in terms of seeking information of supply/demand fundamentals. USGS is much too broad and overview.

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31Floors February 15, 2012 at 08:23 pm
#8 As if the case for GMX isn’t compelling enough, I forgot to mention that there is potential European interest in the talc / magnesite project. This is a diversified industrial mineral company which apparently did an internal study of over 50 minerals and compounds and came up w/ a list of 8 priority ones they are interested in – you guessed it – two of the eight are bright talc and magnesite.

The other thing is that I may have come across being cute on the Bill 14 business, and that was not my intent. It was simply that I was told that it was impossible to gauge the impact, and I like to be careful with my words. The good news is that the vast majority of their Quebec properties would not be caught up with Bill 14. If I were to guess, I’d say that for a guy who has spent decades tromping around Quebec doing his thing, he’s probably offended by it as much as anything.

Finally I thought I’d link an NR on the refractory gold process that they are working w/ DMI on. Kind of gets your attention doesn’t it? I’m not counting the chickens but if this ever got commercialized, well I think you’d need a pretty big barn.

http://www.globexmining.com/staging/admin/news_pdfs/news_201…

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silverax February 16, 2012 at 06:43 pm
#9 @31Floors

I think you have made a very strong case that we should look at Globex and we’ll do so at the next opportunity. Certainly the potential to treat refractory gold — especially if it is different and not as difficult is Bi-Ox — would create huge opportunities (they really need to have a Nevada focus for that because there are some projects in that locale that would be worth a lot of money if there was a way to treat their refractory gold ores. That alone would be a worth a nice talk with them…
"

Grüße sonic

[crystalsonic]

Antwort auf Beitrag Nr.: 42.878.441 von Reggii am 09.03.12 16:07:24

Was treibt denn eigentlich Mag Copper auf unserer Magusi/Fabie Bay? Die haben glaube ich Herbst letzten Jahren auch irgendein eigenes Projekt erworben das so ähnlich heißt und seit dem hab ich nichts mehr gehört? Die Homepage von denen Kameraden ist auch seit September/Oktober der gleiche Stand Corporate Presentation sowie letzte News ... First Metals hatte doch bereits dort produziert, warum dauert das denn eigentlich so lange, bis die dort wieder produzieren wollen? Laut diesem Erwerbsvertrag mit Globex haben die ja irgendwie 3 Jahre Zeit um ne Bankmachbarkeitsstudie abzuliefern - finde da könnte auch mal ein wenig Feuer nachhelfen!!!

•13,500,000 common shares of Mag Copper.
•$10,250,000 expenditure on the property over a 4 year period from the closing date.
•Completion of a Bankable Feasibility Study within a 4 year period from the closing date.
•3% Gross Metal Royalty, 1% of which may be purchased by Mag for $5,000,000.
•$1,075,000 in cash payments over a 36 month period

Wird das Cash-Payment eigentlich in 36 Monatsraten angewiesen? Sollten wir ja dann im Jahresbericht Ende März, oder??? erfahren?

Grüße sonic

[Reggii]

Hallo Will,
teile einfach mal Jack mit, dass Du der gleichen Meinung bist wie hansihans, dann unternimmt er auch mal etwas was dem Kurs gut tut.

-->Wenn der Kurs sich nach Norden bewegt, wirst du viele Freunde hier im Thread wiedersehen/ kennenlernen

[WilliamTell]

Oh Einsamkeit, wie bist Du übervölkert!

Heute wieder mal ein Monolog.

Hört jetzt endlich auf den Thread mit "nichts" zuzumüllen....

Gruss William

[WilliamTell]

Der Aktienkurs von GMX in Toronto bewegte sich zwischen dem 1. und 8. März zwischen 1.42 und 1.24. Der Tiefststand wurde am Mittwoch erreicht und gestern konnte sich der Kurs wieder erholen auf 1.38 CAD.

Grössere Volumen wurden gehandelt am Freitag und Montag nach den beiden News von Timmins und Duquesne (Xmet). In den letzten 3 Tagen wurden nur wenige Stücke gehandelt.

Gruss William

[WilliamTell]

Der TSX Metals- und Mining Index bewegte sich zwischen dem 1. und 8. März zwischen 1200 und 1070 Punkten. Gestern konnte wieder ein Anstieg von 2% realisiert werden.

Ziemlich volatil, die ganze Angelegenheit.

Gruss William

[WilliamTell]

Der Insitu-Value, wie immer gerechnet ohne Timmins Deloro, hat sich in letzter Zeit von 10.4 Mia auf 9.8 Mia zurückgebildet. Aktuell ist er wieder im Steigen begriffen und liegt bei 9.93 Mia CAD.

Es sind keine neuen Ressourcen dazugekommen. Somit sind die Bewegungen einzig auf die Metallpreise und das etwas ungünstigere Kursverhältnis zwischen USD und CAD begründet.

Gruss William

[WilliamTell]

Die WO-Wochenstatistik unseres Thread vom 1. bis 8. März sieht wie folgt aus:

Durchschitt je Tag

944 Aufrufe und 33 Beiträge (Wochenresultat)
605 Aufrufe und 7.8 Beiträge (Kumuliertes Resultat seit Threadbeginn)

Vor allem haben wir extrem viele Beiträge gehabt was sehr erfreulich ist, denn eine breiter angelegte Meinungsvielfalt ist sachlich gesehen von grossem Nutzen.

Gruss William

[WilliamTell]

Zink hält sich momentan wacker über 0.90 USD und Gold ist wieder um die 1700 USD je Unze.

Die Kupferbestände LME weiterhin am Sinken und nun bei 283,000 t....wenn dieser Trend anhält dürfte sich dies positiv auf den Kupferpreis auswirken.

Gruss William

[hansihans]

@ Reggii

Zunächst ist es nicht aggresiv, sondern FAKT

Die lang ersehnte und angekündigte Studie verspätet und nach Korrektur des Inhalts zu bringen ist nun wahrlich kein grosser Verdienst.

Was hat er sonst noch in bezug auf Fortschritte zu vermelden? Objekte erwerben? Mögliche Optionsvereinbarungen die auf Wunsch des Optionsnehmers neu verfasst wurden zu vermelden?

Ausserdem bin ich kein Globeex Aktionär weil ich Jack mag, sondern weil ich Geld verdienen will.