Glen Eagle Resources ($GER.V) has released the latest pictures from the Cobra Oro gold processsing plant, showing that the last expansion phase of the plant is almost complete. A new ball mill is being installed and all the infrastructure is now in place to receive increased throughput.
Insiders continue to increase their shareholdings as nearly one million shares have been purchased over the last two months. Insiders with a few key partners own approximately 50% of all shares outstanding.
Regarding the mining concession La Cobra, recently acquired, the Company is making good progress with its community socialization program. The program is mandatory under the mining law of Honduras. So far, the project has been well received by almost the entire community of forty thousand people. Once a general consensus is reached, Cobra Oro will have complied with all the regulatory requirements to start its exploration program.
The Company is trying to increase its market capitalization to improve sentiment among insiders and long term investors. To that effect, the Company plans to meet with several analysts from different brokerage houses across Canada to make its case as a gold producer, concession owner and strong insider ownership.
Glen Eagle is on a mission to generate revenue from its commercial gold processing plant in Honduras and to bring added value to the newly acquired “La Cobra” mining concession in Honduras.
Do your own due diligence please.
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Glen Eagle is not a client nor an advertiser. The author and website owners do not own shares in Glen Eagle at this time.