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Glen Eagle Resources Inc V.GER

Alternate Symbol(s):  GERFF

Glen Eagle Resources Inc. is a Canada-based small producer and an exploration company of precious metals in Canada and the Central America area. The Company is engaged in the acquisition, the exploration and the evaluation of mining properties. The Company operates in two segments, which are the exploration and evaluation of mineral properties in Canada and recovery of gold and silver from tailings and rocks in Honduras. Its phosphate property (Moose Lake) is located in the St-Jean Lake area (Quebec), approximately 150 kilometers (km) south of Lisette Lake. Its La Cobra property is composed of one claim covering about 775 hectares (ha) and located in the Valle Department, Honduras. Its Piedra Dorada and La Moloncasa properties are located about 164 km south of the capital city of Tegucigalpa in Honduras. The properties are located 17 km to the east of Choluteca where Glen Eagle operates gold mill. The Piedra Dorada and La Moloncasa properties cover an area of about 1,000 ha and 400 ha.


TSXV:GER - Post by User

Post by ggrelletteon Jun 09, 2023 10:48am
133 Views
Post# 35488426

2 huge problems GER has...........

2 huge problems GER has...........to overcome for them to become successful. First they need constant ore for the mill to run 7/24 365 days per year. This is done by having a MINE or multiple agreements with local miners. Secondly they need consistent ore of 5 grms or better to be profitable. 

On a side note it is time for the hounduras gov't to step up if they want the cyanide problem that local miners cause resovled through using the GER mill. If the gov't is serious about cleaning up this issue then it is time for them to make laws that push these local miners towards ending their cyanide pollution. 

Sadly Karl has a huge hurdle to overcome and maybe with these recent board placements they can start lobbying the gov't. for assistance. Otherwise IMHO the furture does not look bright with these hurdles. What does that mean for ther stock price "Stagnate" is what will happen.
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