The last time Metalsnews.com spoke with the ever-ebullient Jack Stoch, President and CEO of Quebec-based Globex Mining Enterprises Inc., his domain included 85 projects, all of which featured elements spanning a vast stretch across the periodic chart. October saw Globex celebrate a milestone of 60 years in the exploration and mining sphere. Thanks to keen ingenuity and more-than-significant resources to back it up, Stoch nabbed the reins of the dormant producer in 1983 and propelled Globex Mining into the financially independent powerhouse it is respected as today. Now boasting even more projects and as far-reaching as ever, the highly capable team of experienced geologists is on the heels of even more innovations in eco-friendly minerals applications, specifically magnesium compounds.

“There is a lot of stuff going for Globex at the moment,” declared an understandably excited Stoch during our most recent encounter with the innovative and very experienced geologist. “We’re up to more than 90 projects now. We are still diversified and, as further evidence of that, we’ve added several more exotic minerals like the rare earths, our lithium royalty and several more uranium projects.”

For posterity it should be mentioned that, alongside these assets, Stoch and company are home to even more diverse elements such as copper, zinc, molybdenum, nickel platinum, palladium and magnesium.

It is this last element that has the offices at Globex currently abuzz with giddy anticipation in advance of the company’s latest investments. According to Stoch, “We’re hoping to become the largest North American producer of magnesium compounds and talc.”

In conjunction with corporate finance associate KPMG, who signed on for the expansive magnesium-talc endeavor, Globex Mining has already spent a significant amount of time and money moving things forward into the mini-pilot plant stage. And what was once thought to be a contaminated product has emerged as, literally as a bright light shining on the good fortune of Stoch’s precious metal proceedings.

“The results have been positive,” he announced. “Interestingly enough, the talc we have in the magnesite-talc project, which we thought was going to be plagued by impurity, turns out to possess a brightness of 90, with zero asbestos fiber.”

Such attributes of this talc, complemented by a desirable form, bode well for Globex’s intentions for the industrial applications market. As well as providing an excellent substance for filler in the plastics and paper industries, talc of this caliber is also ideal for ceramics, paints, electrical cable, rubber and even pharmaceuticals.

“That this product is platey indicates it’s suitable for a broad range of uses,” Stoch declared. “Consequently, it also has an extremely high value; instead of being a bane, our talc has turned out to be a prominent positive. So we have this project with tens of millions of tons of ore — 90% of this rock is ore — which is pretty amazing.”

Even more promising for Stoch is that one of his products in particular, magnesium oxide, has numerous constructive opportunities and crucial market gains for Globex particularly in the refractory business.

Stoch posits, “You know all the white powder in fire extinguishers? That stuff is environmentally unfriendly, and it’s now being replaced with magnesium oxide, which is great news for the earth, as well as Globex’s investment.”

As the term “eco-responsibility” makes yet another welcome reentry into the lexicon of industry worldwide, and the impact of chemicals on the environment is reconsidered for the new millennium, it is refreshing to witness the recycling of outdated ideas and materials into corporate accountability.

Magnesium chloride, another product of Stoch’s potential magnesium compound operations, is effective in water and sewage treatment, not to mention a fantastic substitute for salt typically utilized on the roads when the temperatures dip below freezing.

“If you take magnesium chloride and spray it in liquid form on the highways before winter arrives, it prevents ice from building up, which is pretty cool,” admitted Stoch. “It does not cause metal to rust, which means no rusty cars, no disintegration of steel rebar in cement, and no overpasses collapsing. When it dissolves and wears off the road it goes into the soil and promotes growth; an environmentally beautiful product, among other outstanding attributes.”

With a favorable Ontario location, solid infrastructure, no potential environmental issues and no foreseeable negatives to the project, Globex has partnered with hydrometallurgical firm Drinkard Metalox in a 75%/25% deal, “the results of the test work are excellent,” Stoch revealed.

Interest in both off-take agreements and partnerships from the world’s major end users will provide dividends to the company’s shareholders once the mini-bulk test, supplemental tests and the environmental impact studies have concluded. From there it’s all design work, permits and construction of the plant.

An independent firm is expected to publish the project’s NI 43-101 any day now, and Stoch estimates a time frame for the entire project to be under way in three to four years.

In the meantime, Globex has plenty on its plate to keep its investors very pleased. A gold discovery on its Wood-Pandora property in Quebec of 243,000 tonnes grading 17.2 g/t Au, in partnership with Queenston Mining, has proven recoveries of up to 95%. Also in Nova Scotia, the Mooseland project has a resource around 600,000 tonnes grading 17 g/t Au. Globex maintains a 4 percent gross overriding royalty on all production, receives option payments of $750,000 and upon commercial production will receive 5 percent of the total issued stock of NSGold Corporation which intends to put the property into production. As the markets continue to show gradual improvement as reflected in rising prices, Stoch and company keep reaching further.

“In Tennessee at the moment we have a gross royalty of 1 to 1.4% on the Gordonsville zinc deposit that was bought recently by Nyrstar which is the world’s largest producer of zinc,” he said. “They also own the only zinc smelter in Tennessee and they announced three months ago that they were putting the mine into production, we put no money in, they produce, we get up to 1.4% of the metal.”

It’s amazing what zero debt, diversification and a combined total of 170 years of hands-on experience can do for a company, let alone its shareholders.

For more information, visit http://www.globexmining.com

Globex Mining Enterprises Inc.

86-14th Street

Rouyn-Noranda, Quebec J9X 2J1

Canada

Telephone : (819) 797-5242

Fax : (819) 797-1470

info@globexmining.com