Junior Miner Shares Pop on Gold Property Sale

By: Tomas Ronolski - AllPennyStocks.com News

Monday, July 12, 2021

Central banks are reportedly increasing their gold supplies, and the price of the precious metal has been steadily increasing. This company is making moves and shares are climbing as it just sold its gold property in Quebec for $1 million.

The Tarmac Gold Property, owned by Globex Mining Enterprises (CSE:GMX) (OTCPK:GLBXF) is located entirely within miner Wesdome’s Kiena Mine Complex. Globex sold the property to Wesdome Gold Mines Ltd. for one million dollars ($1,000,000) and a 1% Gross Metal Royalty.

Located on over 94 hectares and consisting of six claims, the property is less than 2 kilometers northeast of the Kiena underground mine, all located beneath Lac De Montigny. There has been numerous gold intersections in the area and Globex has maintained the property since the 1996 drilling program due to the evident economic potential. The sale positions Wesdome to further the potential exploration and advancement of these claims.

After regressing a bit from May, shares were trading up in early afternoon trade at $1.19.

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