Globex Reports that Royalty Partner Radisson is Commencing an Advanced Underground Exploration Project at the O'Brien Project Where Globex Owns Two Royalties
Globex holds two royalties and Cadillac Wood as Agnico invests C$57m in Radisson’s O’Brien project.
Radisson Mining Resources is launching an advanced underground exploration program at its O’Brien Project, which sits on ground subject to royalties held by Globex Mining Enterprises Inc. Agnico Eagle Mines Limited is contributing C$57.16 million to Radisson to fund the initiative. The program encompasses the construction of an access ramp, associated underground and surface mine infrastructure, and water management facilities, with engineering and permitting work set to begin immediately.
In conjunction with these developments, Radisson will continue its 140,000-metre step-out drill program. Globex Mining Enterprises Inc. maintains a 1% GMR New Alger Royalty and a 2% NSR Kewagama Royalty over the relevant ground. Additionally, the company retains 100% ownership of the Cadillac Wood project, located immediately east of Radisson’s O’Brien Project. This announcement serves as an operations update and strategic investment disclosure, rather than a Globex earnings or production release.
Agnico Eagle has committed C$57.16 million to Radisson, a move that serves as material third-party validation of Globex Mining Enterprises Inc.’s O’Brien royalty optionality and acts as a funding catalyst for underground development. The release does not quantify a production timeline, reserve expansion, or any direct cash-flow impact for Globex.
Globex Mining Enterprises Inc. is a Toronto-listed mining royalty and project generator that monetizes exploration assets through options, royalties, and partnerships rather than direct mine operation. The company holds royalties and option interests across gold, antimony, iron, lithium, zinc, copper, fluorspar, and rare earth properties.
Key interests include: - O’Brien Project: 1% GMR New Alger and 2% NSR Kewagama royalties. - Mont Sorcier: 1% GMR iron royalty. - Bell Mountain: 3% GMR gold-silver royalty. - Parbec: 3% GMR gold royalty. - Duquesne West: 50% ownership interest. - Bald Hill: antimony property under option to Antimony Resources. - Berrigan: 2% GMR royalty. - 100% ownership of Cadillac Wood and other exploration properties.