Anyone who may be looking into mining stocks at this point in time has a lot of options and one of those could be the Globex Mining Enterprises Inc (OTCMKTS:GLBXF) stock. The company was in the news yesterday after it provided an update meant for its shareholders.
Market Reaction
On Wednesday, GLBXF stock decreased 0.48% to $0.5036 with more than 28.70K shares, compared to volume of 31.48K shares. The stock moved within a range of $0.5036 – 0.5203 after opening trade at $0.5100.
Maple Gold Mines Ltd. Advances Exploration on Eagle Gold Mine Property Optioned from Globex
The update was in regards to the Eagle Gold Mine which had been optioned to Maple Gold Mines Ltd by Globex Mining. The company announced yesterday the second drilling program had been completed by Maple Gold at the Eagle Gold Mine. As many as three drill rigs were turning at the property at the time of reporting.
However, perhaps more importantly, it was also announced that Maple Gold was also going to conduct the third phase of the drilling program at the same property by the end of the year.
The announcement made by Globex was a significant one and it is going to be interesting to see if the company’s stock experienced any action or not. In addition to that, the work done so far by Maple Leaf has also revealed significant values of gold in surrounding areas to the Eagle-Telbel mine horizon.
Technical Data
GLBXF stock is trading above the 20-Day and 50-Day Moving averages of $0.49 and $0.49 respectively. However, the stock is trading below the 200-Day moving average of $0.60.
