Globex Mining Enterprises Inc.

Globex Mining Enterprises Inc. is a junior gold royalty and streaming company headquartered in Rouyn-Noranda, Canada, operating primarily in Canada. Key assets include Fayolle and Francoeur/Arntfield/Lac Fortune. The portfolio includes 256 properties, of which 106 are royalty interests at various stages of development. The organization operates as a project generator and property bank, creating shareholder value by acquiring mineral properties, conducting limited exploration, and then preparing them for option, joint venture, or outright sale. A key differentiator is that the enterprise is the underlying mineral rights owner on most of its properties, which mitigates financial commitments for option payments that typically impact liquidity in the junior exploration sector. This business model aims to advance projects towards production through partnerships while retaining long-term financial benefits for shareholders. The company's holdings are diversified across various metals and minerals, including base, precious, specialty, and industrial types. This approach allows the entity to maintain a robust pipeline of opportunities and manage risk across a broad asset base without being directly engaged in mining operations or mineral production. The primary sources of funding include option payment receipts, royalty revenue, and interest income, supplemented by strategic public financings.

Strategic focus centers on acquiring properties that meet specific criteria, including the presence of historic or compliant mineral resources, past production records, established drill targets, or locations on major geological structures. The business strategy involves a disciplined approach to vending these properties through option agreements that typically require partners to make annual cash or share payments and fulfill exploration work commitments. A core component of this strategy is securing a gross metal royalty in favor of the corporation as part of these agreements. Upon satisfaction of the option terms, the property interest is transferred to the partner, while the entity retains the long-term royalty or another form of carried or participating interest. For outright sales, compensation arrangements may include cash and share payments combined with a royalty interest payable upon reaching commercial production or other negotiated milestones. Management approach involves actively monitoring metal demand, supply balances, and price trends, as well as financing activities within the junior mining sector, to inform property acquisition, exploration planning, and financial decisions.

Executive leadership is centered on the President and Chief Executive Officer, a geologist who has guided the corporation since 1983 and serves as the designated Qualified Person for technical disclosures. The management of the organization rests significantly on this key individual. Board composition includes 5 directors, of whom 3 are independent. Governance framework encompasses an Audit Committee, a Corporate Governance Committee, and a Compensation Committee, with all independent directors serving on each. The Audit Committee is composed of 3 members, all of whom are independent and financially literate, with one member having served as Chairman and CEO of Soros Funds Limited and held senior roles at Paribas Capital Markets and Bankers Trust. Another independent director brings over 40 years of industry experience, including roles as President and CEO of Centerra Gold and senior positions at Hecla Mining and Noranda Group. The third independent director has extensive experience as a mining analyst and portfolio manager, including for the Caisse de dépôt et placement du Québec.

Corporate structure includes the wholly-owned subsidiary Globex Nevada, Inc. and a 50% ownership in Duparquet Assets Limited, which is co-owned with Jack Stoch Geoconsultant Services Limited. In June 2022, the 50-50 Wood-Pandora joint venture with Agnico Eagle Mines Limited was terminated, with the corporation retaining a 100% interest in the associated properties. Recent transactions include the 2024 acquisition of the Eldrich and Porcupine West projects from IAMGOLD Corporation in exchange for the Rich Lake and Lac à l’Eau Jaune properties, on which a 1% net smelter return royalty was retained. Also in 2024, the entity completed the sale of its Des Herbiers project to Infini Resources Limited, retaining a 3% gross metal royalty. In 2023, the company sold a portfolio of 8 advanced gold exploration claim groupings to O3 Mining Inc., retaining a 2.5% gross metal royalty on most of the claims. The organization also sold its Fiedmont lithium property to Consolidated Lithium Metals Inc. in 2023, retaining a 2% net smelter royalty.