Globex said it had acquired 100% of the Lac Fortune gold mine property for 250,000 shares and a 2% NSR, which it could buy 1% of "at any time" for C$200,000.

It said Lac Fortune had a pre-NI 43-101 probable resource of 224,425 tonnes grading 5.38g/t dated 1986, when gold was worth about US$390 an ounce.

Gold was trading at more than $1,600/oz on the spot market earlier today.

Globex said it would shortly begin a detailed 2,000km aeromag survey over its Francoeur/Arntfield/Lac Fortune land package, including a circa 6km largely untested section of the gold localising Cadillac Break. 

However it also announced yesterday it was closing its offices at Rouyn-Noranda for at least three weeks as a preventative measure "due to the ongoing coronavirus crisis". 

The company started the year with about C$4.5 million (US$3.1 million) in working capital.

Its share price had hovered towards 40c for much of the past year but fell to a 52-week low of 26c on Monday.

It gained 12.7% yesterday to close at 31c, capitalising Globex at $16.9 million (US$11.8 million).