Glen Eagle Resources Inc V.GER

More NEWS - Plant Consistently Receiving 80-100t Ore @ 4 g/t

[greasychey]

Montreal, Quebec -TheNewswire -February 16, 2021 - Glen Eagle Resources Inc. (TSXV:GER) (“Glen Eagle” or the “Company”)is pleased to announce that mineral supplies are now being delivered as stipulated in the agreement announced on February 2nd, 2021.

Delivery has been coming steadily over the last 10 days at a rate of 80 to 100 tons daily. This marks a major step for the company as itsgold processing plant cannowoperate with an adequate throughput and grade quality closer to 4 grams gold per ton, better than anticipated.

The company also announces that major changes are in the making, including several important projects currently in the pipeline that are intended to be released in the near future through a steady flow of news releases.

 

Jean Labrecque, President

Glen Eagle Resources Inc

 

[dirty101]

Even with only 4 gram per ton that still works out to good income. If the plant is running 6 days a week that's 400g x 6 = 2.4kg per week or 77 ounces. With gold at $2275 CDN that's $175k per week or over $9 million annually. Just gotta keep that plant running!

[Sapiens]

   

[Sapiens]

We have all long demanded production figures, unfortunately only from 10 days, but the news that the plant is starting to deliver is in my opinion the best news in several years.

[lapiastre]

This post has been removed in accordance with Community Policy

[Scanner454]

never to old to learn...

[Sapiens]

Lol. I've owned my Glen Eagle shares for 12 years so I've learned all about disappointment

[GoldenOrb]

I have been here since, the B2Gold tailings debacle in Nicaragua & their attempts to mill the tailings with a portable mill brought in by one of the B of Directors - DuMont  I believe?, remember?   That was a total failure.  We CAN thank Jean for finding/buying the Cobra de Or mill in Honduras.  Right?  He's had it tough, one mistake after another & then