Globex receives $96,081 (U.S.) Mid Tennesse royalty #CSE $GMX


Globex Mining Enterprises Inc. has received the July royalty payment from zinc production at the Mid Tennessee mines from Nyrstar.

A payment of $96,081 (U.S.) ($121,917) was received, based upon 2,373.4 tonnes of payable zinc production at an average zinc price of $1.26 (U.S.) per pound, for the month of July. The current zinc price is $1.31 (U.S.) per pound. The mine and mill are in the ramp-up phase with an announced objective of producing 50,000 tonnes per year of zinc concentrate by November. That is 4,166.7 tonnes of zinc concentrate per month, well above the current ramp-up rate of production, and will translate into even greater monthly royalty payments to Globex.

This news release was written by Jack Stoch, PGeo, president and chief executive officer of Globex, in his capacity as a qualified person under National Instrument 43-101.

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