Nevada Gold Project Nears Production, Unlocking Value for Globex Royalty

TORONTO, ON – June 22, 2026 – In the world of mineral assets, there are projects that dig dirt and projects that print money. Globex Mining Enterprises Inc. has always favored the latter, and its patience may soon be rewarded in the sun-baked hills of Churchill County, Nevada. News that the Bell Mountain gold-silver project is now fully permitted and moving to the construction financing stage is more than just a routine update; it's the sound of a cash register warming up.

For Globex, which holds a 3% Gross Metal Royalty (GMR) on the project, this development represents the culmination of its "project generator" model. The company doesn't operate the mine; that's the job of Lincoln Gold Mining Inc., which is currently in discussions to arrange the US$25-30 million needed to build the facility. Instead, Globex sits back and waits for its royalty—a slice of every ounce of gold and silver produced, free from the crushing weight of operational costs and capital overruns. With first production and cash flow targeted for 2027, a long-held asset on Globex’s books is on the verge of becoming a tangible revenue stream.

The Beauty of the Royalty Model

To understand the significance of the Bell Mountain news, one must first appreciate the elegance of the royalty business model. Unlike traditional miners, royalty and streaming companies are not in the business of moving earth; they are in the business of financing and risk management. They provide capital to miners in exchange for a percentage of future output.

Globex's 3% GMR on Bell Mountain is a textbook example. This royalty is "gross," meaning it's calculated on the total value of the metals produced, before the deduction of mining, milling, and transportation costs. It’s the purest form of exposure to commodity prices and production volume. While Lincoln Gold navigates the complexities of an 8 to 10-month construction timeline, manages contractors, and worries about diesel prices, Globex’s stake is insulated.

This structure provides investors with a leveraged bet on gold and silver prices without the associated operational risks. When a project like Bell Mountain moves from a line item in a technical report to a fully permitted asset on the cusp of construction, it is a massive de-risking event. The geological and permitting risks have been largely overcome, leaving market and execution risk—most of which is shouldered by the operator, Lincoln Gold. For Globex and its shareholders, this is the inflection point where theoretical value begins its conversion into hard currency.

A Junior Miner's Journey to the Finish Line

While the royalty model offers a level of detachment, the story on the ground is one of grit and perseverance for the operator. Lincoln Gold Mining has successfully navigated the labyrinthine permitting process in Nevada, a jurisdiction known for being pro-mining but also rigorous in its environmental oversight. The consolidation of mineral claims, a water pollution control permit, and the formal transfer of the Bureau of Land Management (BLM) plan of operations are significant hurdles that have now been cleared.

The company finalized its acquisition of Bell Mountain in January 2025 and has moved with purpose. Now, it faces the final boss for any junior developer: securing construction financing. The targeted US$25-30 million is a modest sum in the grand scheme of mining, but it is the critical key that unlocks the project's potential. According to company statements, Lincoln is "in the process of arranging construction financing" and is holding discussions with various financial institutions.

The successful completion of this financing round will trigger the start of earthworks and plant construction. It will transform Lincoln Gold from a developer into a producer, a metamorphosis that few junior mining companies ever achieve. Bell Mountain, with its planned open-pit, heap-leach operation, represents a tangible path to cash flow and a foundational asset for the company's future growth.

The Story Behind the Numbers: An Outdated Price Deck

Perhaps the most compelling part of this story lies buried in the fine print of the project's NI 43-101 technical report. The Preliminary Economic Assessment (PEA), updated in early 2025, forms the basis of the project's economics. It outlines a resource of 45,832 Measured and Indicated gold equivalent ounces and another 27,147 Inferred ounces across four zones.

However, the financial projections in that PEA were calculated using a gold price of US$1,950 per ounce and a silver price of US$24.00 per ounce. As Globex’s own press release cheekily notes, gold is currently trading at nearly twice that price, and silver at almost three times. This isn't just a minor discrepancy; it's a fundamental game-changer for the project's economics.

Any financial model is highly sensitive to its input assumptions. By using such conservative metal prices, the PEA presents a baseline case that is still economically viable. When you re-run those numbers with current spot prices, the project's Net Present Value (NPV) and Internal Rate of Return (IRR) are likely to explode upwards. This massive, un-booked upside is precisely what Lincoln Gold's management will be highlighting in their financing discussions. It transforms Bell Mountain from a modest gold-silver project into a potential cash cow in today's high-price environment.

This also dramatically increases the potential value of Globex’s 3% GMR. A royalty on gold at $3,900 per ounce is worth double a royalty on gold at $1,950. For investors looking at the long-term value of Globex, the "hidden" value embedded in the conservative price decks of its royalty assets, like Bell Mountain, is a powerful and often overlooked catalyst. The project's economics are not just robust; they are spring-loaded for the current precious metals bull market.

With significant exploration potential remaining on the property, the initial resource may only be the beginning. As Lincoln Gold moves towards production, any future discoveries or resource expansion will also be subject to Globex's royalty, providing a perpetual option on future success at Bell Mountain, all from the comfort of a Toronto office. The project is not just nearing construction; it's nearing a significant re-rating of its economic potential.