- Globex Mining reported on Tuesday that IAMGOLD has started open pit mining and processing gold ore from the Fayolle property located in Clericy township, Quebec, on which Globex retains a 2% net smelter royalty .
The Fayolle gold property is a satellite surface deposit that feeds gold ore to the Westwood mill. IAMGOLD obtained a mining lease in March 2023 and immediately started mining activities. The current production guidance for 2023 is between 10,000 and 15,000 ounces of gold. In a news release, Globex said it is pleased that IAMGOLD has initiated mining on the property which the company believes has significant additional exploration potential.
Globex has a diversified North American portfolio of mid-stage exploration, development and royalty properties. Globex conducts its own exploration programs and options many of its numerous projects to other companies which pay Globex cash, shares and a royalty and undertake extensive exploration in order to earn an interest in the company's projects.