Glen Eagle Resources Inc V.GER

friday night news release?

[Scanner454]

do we see the dreaded friday night news release for glen eagle as 3rd. qtr. financials are coming due.

[Scanner454]

we did and it is as advertised...DREADFUL!

[lapiastre]

They decided to not crush empty rocks from the locals wich is ok for me. NSA didn't bring mineralized material as planned, so the contract have to be renegociate before going forward with them, wich is ok for me. There is this GEM legal battle that still piss off, but from what i see, it might be coming at the time where we GER can pay for this having sold the phosphate prop. Let see what the

[lapiastre]

Oh, and by the way, i won't pump the first phosphate development. When they will uplist in january/february at 2-3 $ per shares, and GER holding 6m of them, it will pump by itself...  ;)

[lapiastre]

I also PRETTY MUCH LIKE to see the sharebase compensation going to zero in difficult times. I do not recall ANY management who did this. And based only on that, i feel i should hold my position as it demonstrate they want to make things happen. Wishing me good luck !! Lolll

[Sapiens]

How many shares will there be in total in the company? 6 million shares will be 1% or 10% of the company, it has quite a lot of importance if it is a good deal or not

[Scanner454]

early pre-market shows a disdain for the latest news from glen eagle....two months has gone by since the end of the last report....if things do not get better materially,than for this company to survive major changes are going to be needed imho.

[lapiastre]

Sapiens, 39m fully diluted shares. 36m outstanding. So this gives GER around 16% ownership.

[lapiastre]

Fron phos release ; <\/i>","library":""},"layout":"horizontal","toggle":"burger"}" data-widget_type="nav-menu.default" style="box-sizing: border-box; --flex-direction

[lapiastre]

All shares were issued at .25 cent. This issuance took place BEFORE the metallurgical report released few weeks ago. Now what will be the market valuation for the resource estimate ? One can compare with already existing phosphate producers....

[Sapiens]

  Okay, thanks for the answer, 16% is still a significant part of the company, but what happens if First Phosphate does a large dilution of shares and after the dilution it becomes, for example, 172 million shares, Glen Eagle then only owns 4% of the company?

[lapiastre]

Could be, but not there yet. We can add to that what will it be if they don't dilute much right now, and uplist the company having the compliant resource estimate and economic assesment of over 1 billion $ on hand ?? Normally you won't raise financing at a low share price if possible. I think management better infered and indicated the resource and planning economics before raising any

[lamothze]

Where do you see they have deposited the money for GEM? I thought they only listed the amount as a liability.

[lapiastre]

On page 16. It is written as expense of 1,252,682 $ for GEM legal case. Look in the G&A section.