TSCI Street Pulse - March 9, 2010

Insights on Globex Mining

Globex Mining Enterprises Inc. (TSXV: ADE) is a Canadian mining exploration and royalty company with a portfolio of advanced properties comprising gold, copper, zinc, silver, uranium, platinum, palladium, magnesium, molybdenum, lead, iron, nickel, and talc. Company policy is to acquire promising mineral properties, improve them, and then (a) option, (b) joint venture, (c) develop to production, or (d) sell them.
Globex holds interests, ranging from 50% to 100%, with the bulk being 100%, in about 63 mineral exploration projects (more than 90 properties), located primarily in the Abitibi-Greenstone Belt of northern Quebec-Ontario, but also in Nova Scotia and the United States.

8 significant exploration projects: 7,666 ha
17 less-significant projects: 6,855 ha
38 early/immediate-stage projects: 52,566 ha

Globex also holds royalty interests in 17 properties that it has optioned to third parties.

In its property optioning strategy, Globex provides a third party with an opportunity to acquire an interest in a property in return for annual cash payments and/or share payments, plus an annual monetary work commitment. Most agreements are for multi-year terms, with escalating annual payments and work commitments. When all the conditions are satisfied, Globex retains a gross metal royalty and, often, a net profit interest.

Globex has received an NI 43-101 compliant Technical Report on the initial mineral resource estimate for the Company’s talc-magnesite deposit in Deloro Township, near Timmins, Ontario. The resource estimate was prepared for a limited part of the A zone of the deposit, and totalled 36,509,000 tonnes. Based on the resource estimate, the centre of the A zone is expected to provide at least 30 years of mill feed at a rate of 1 million tonnes per year. The deposit, because of its physical dimensions and near-surface location, is expected to be mined using open-pit methods (typically low-cost compared with underground methods).

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Bob Weir, B. Comm, B.Sc., CFA. - eResearch

Mr. Weir has 43 years of investment research and analytical experience in both the equity and fixed-income sectors, and in the commercial real estate industry. He was at Dominion Bond Rating Service (DBRS) from 1994 to 2001, latterly as Executive Vice-President responsible for supervising the firm’s 34 analysts and conducting the day-to-day management affairs of the company. He joined eResearch in 2004 and has been its President, CEO, and Managing Director, Research Services since May 2005.