Globex Mining: 40 Former Mines Under One Roof + Cashflow
Feb 07
Money In The Bank!
Plus 40 former mines under one roof!
At this rate, $170,109 per month, Globex Mining’s (GMX, TSX) Zinc royalty on Nyrstar’s Tennessee mine is going to bring in just over $2 million this year.
And that was based on $1.45 Zinc. Now it’s selling for more than $1.60. Given the supply/demand picture, many think Zinc is headed even higher.
So while we know Trader Jack Stoch (Globex Mining’s CEO) isn’t the type to wave his arms around and get Mr. Market’s attention, although he should, GMX remains a savvy speculator’s speculation. With a market cap of $24 million the company is priced at less than 12 x cash flow, based on the one royalty (and Trader Jack’s always working a new deal or angle to bring in cash).
He’s assembled an incredible number of properties and assets under one roof via Globex Mining.
Call me crazy, but at its current $24 million valuation, given a royalty that could bring in $2 million annually and that suite of assets, Globex Mining is the type of stock one could buy for their grandmother (and/or grandfather for that matter). At this price and assuming a natural resource bull market, it’s that safe of a bet.
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*Daniel has a long position in Globex Mining
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