Production / Operations
Gold Mineralization Potential Extends Below 2,000 m on Globex Kewagama Royalty Claims
Globex confirms high-grade gold mineralisation at its Roy Depth project, with widths up to 12 metres and grades reaching 15 g/t, as shares retreat from recent highs.
Executive Summary
- Date: May 5, 2026
- Headline: Gold Mineralization Potential Extends Below 2,000 m on Globex Kewagama Royalty Claims
- Core Event: Radisson Mining Resources Inc. reported drilling results at its O'Brien Gold Project, specifically intersecting high-grade gold near the boundary of Globex's 2% NSR royalty claims (Kewagama).
- Key Data: Drill hole OB-26-384 intersected 4.54 g/t Au over 12.0 m at a vertical depth of 1.9 km, marking the deepest hole on the project.
- Geological Context: Trends suggest mineralization extends into Globex's royalty area. Radisson's March 2026 Resource update previously attributed 20.6% of its resource to these claims.
- Implication: Confirms continuity and depth of the gold system underlying Globex's royalty stream, potentially extending mine life beyond initial open-pit assumptions.
Material Impact
- Consistency with History: This news follows a consistent pattern of positive updates from Radisson Mining regarding the O'Brien project (see Sept 2025, Feb 2026 releases). The March 2026 Resource Update already quantified that ~20% of the resource sits on Globex's claims.
- Incremental Value: While the depth extension (1.9 km) is technically significant for mine life, it validates previous projections rather than introducing a new discovery that fundamentally alters the valuation model overnight. The market had likely priced in the March resource update.
- Risk Mitigation: Deep drilling success reduces the risk of the royalty asset being exhausted quickly, supporting long-term cash flow visibility. However, as a royalty holder, Globex remains dependent on Radisson's capital and execution capabilities to bring this depth into production.
- Market Reaction Context: The stock has corrected approximately 22% from its February 2026 high ($2.86) to current levels ($2.22). This news serves as a stabilizer but may not be sufficient alone to drive an immediate breakout without further catalysts like the Mont Sorcier Feasibility Study completion (Q2 2026).
GMX · Price
Company Overview
- Business Model: Globex operates primarily as a royalty and streaming company with a portfolio of optioned and owned exploration assets. Revenue is derived from royalties on production (Gold, Iron, Antimony) and financial portfolio gains.
- Flagship Projects:
- Kewagama Gold Mine (O'Brien Project): 2% NSR royalty held via Radisson Mining Resources. High-grade gold system with significant depth potential.
- Mont Sorcier Iron Project: 1% Gross Metal Royalty held via Cerrado Gold. Feasibility study due Q2 2026; targets green steel market.
- Bald Hill Antimony Property: Optioned to Antimony Resources Corp. High-grade stibnite mineralization; advancing toward maiden resource.
- Eagle Gold Mine: 2.5% Gross Metal Royalty held via Maple Gold Mines Ltd. Recent resource update (April 2026) outlined ~459,000 oz Au.
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Jul 03, 2026 · 10:58