Globex Mining Enterprises Inc. has noted that Nyrstar NV’s Mid Tennessee mine and mill complex has been in operation since May, 2017, and is rapidly increasing production to full capacity.

Globex, at current zinc prices, holds a 1.4-per-cent gross metal royalty on all zinc production from the property. In the initial production months of May and June, 5,664,180 pounds of zinc were produced, of which 4,814,553 pounds are payable. Globex’s share of production is $150,272 (U.S.) ($198,808) at average zinc prices per pound for May and June of $1.175 (U.S.) and $1.167 (U.S.), respectively. The current zinc price is $1.25 (U.S.) per pound.

It is also worth noting that, at closing of the mine and mill in November, 2015, the last month’s production was at a high of 12,595,640 pounds of zinc (10,706,294 pounds payable).

Globex is pleased with the reopening of the mine and mill and looks forward to the revenue stream, which will be generated for Globex as they ramp up to full production capacity. Most projections, as regard to zinc prices, estimate that prices will continue to rise over the next several years.

This press release was written by Jack Stoch, PGeo, president and chief executive officer of Globex.

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