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Globex reports IAMGOLD begins production at the Fayolle gold property in Quebec

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(Kitco News) - Globex Mining (TSX: GMX) reported on Tuesday that IAMGOLD (TSX: IMG) 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 (NSR). 

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.

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