Globe Metals & Mining (ASX: GBE) has now wrapped up the company's share buy-back program which was launched close to a year ago.
Globe Metals bought 5,810,674 shares on-market for a total cost of $677,451, with purchases ranging from a high of $0.15 to a low of $0.064 - for an average purchase price of $0.116.
Earlier in the week the company also appointed Alistair Stephens to the role of chief executive officer, effective immediately.
Stephens will be responsible for managing, developing and implementing the company’s strategy of delivering the Definitive Feasibility Study for the Kanyika Niobium Project, and supporting the company’s transition from advanced explorer to project developer.
Globe Metal’s primary focus is the advanced multi-commodity Kanyika Niobium Project in Malawi, which will produce niobium pentoxide and tantalum pentoxide, key additives in sophisticated steels. The recently released Mineral Resource indicates Kanyika could support a 20 year mine life.
The company is well placed with $16.6 million in the bank to progress the Definitive Feasibility Study.
Major shareholder is East China Mineral Exploration and Development Bureau, a Chinese State Owned Enterprise.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.