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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Glen Eagle Resources Inc | TSXV:GER | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.005 | 0.005 | 0.005 | 0 | 01:00:00 |
The ore grade is expected to increase significantly by late August and reach an average of 5 grams gold per ton while Inception Mining is expected to continue hauling a consistent ore feed to Cobra Oro gold plant at an average of 100 tons per day well into next year.
In the last 5 weeks, the Company has produced over 160 ounces of gold, far exceeding any previous month despite processing low grade ore and battering through the rainy season. The ongoing situation with Inception Mining, combined with other ore suppliers under contract with Cobra Oro will likely warrant a plant expansion to meet supplies by increasing daily throughput from its current maximum capacity of 150 tons to 250 tons.
In summary, Cobra Oro gold processing plant has never worked so efficiently in the past and the Company expects, all things being equal, to be quite profitable in the coming months based on the information and projections that it is managing internally.
Jean Labrecque, PresidentGlen Eagle Resources IncComplexe du Canal Lachine, Suite 3084710 St-Antoine StreetTel : 514-808-9807
“Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.” Values in the news release are quoted in Canadian dollars.
1 Year Glen Eagle Resources Chart |
1 Month Glen Eagle Resources Chart |
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