Globex Mining Enterprises Inc. (
TSX: T.GMX,
Stock Forum) shares rallied Tuesday after the company tabled drill results from the Wood-Pandora property in Cadillac Twp. Quebec, where the company is working in a joint venture with
Osisko Mining Corp. (
TSX: T.OSK,
Stock Forum).
As of September 25, 2013, 18 drill holes have been completed in an expanded program. The drill holes were widely spaced and designed to explore the stratigraphy at depth over the entire 3.5 kilometre strike length at the Cadillac Break across the property in previously untested zones.
Highlights include 11.8 metres, grading 15.1 grams per tonne gold,
the company said in a press release.
Globex shares rose 16.2% to 43 cents Tuesday, leaving a market cap of $12 million, based on 27.8 million shares outstanding. The 52-week range is $1.22 and 31 cents.
Osisko eased 5.6% to $5, leaving a market cap of $2.2 billion, based on 437.3 million shares outstanding. The 52-week range is $10.09 and $2.98.