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Glen Eagle Resources Inc V.GER

Alternate Symbol(s):  GERFF

Glen Eagle Resources Inc. is a Canada-based company, which is engaged in the acquisition, exploration and evaluation of mining properties. The Company is engaged in the production of gold and silver from the purchasing and processing of material in Honduras. Its activities also consist of owning mining concessions in Honduras where it intends to proceed with an exploration and evaluation program. Its La Cobra property is composed of one claim covering approximately 775 hectares and located in the Valle Department, Honduras. It has three areas of interest for lithium, in the Lebel-sur-Quevillon area: Lessard property, Perigny property and Nicobi property. The Nicobi property is characterized by a one km long lake-bottom lithium anomalies varying from 33 to 45 ppm of Lithium. The Perigny property is characterized by seven km long lake-bottom lithium anomalies varying from 19 to 26 ppm of lithium. It is also looking for exploration and evaluation activities located in Quebec, Canada.


TSXV:GER - Post by User

Bullboard Posts
Post by massivemeltdownon Jun 22, 2009 11:29pm
437 Views
Post# 16090367

Swiss meets Saudi....

Swiss meets Saudi....This CEO is more of a globetrotter than the CEO of KNB but it looks like instead of vacations with the Mrs., this CEO is actually pounding the pavement.  I wonder if they will come with an all cash offer and trump the ORV offer however given the market cap it would certainly be an unusual transaction if it were to materialize....that being said, the initial offer was unusual to begin with.  All day without any news and concurrent halts were absent.  With the recent appointment to the board....can only imagine some kind of funding arrangement has been consumated and the fact the DD has been completed with respect to KNB, it would only make sense they pursue the initial arrangement or sweeten the offer.  If GER were looking to maximize their investment it would be a prudent strategy to switch from a passive investment to a more aggressive takeover by trumping the ORV offer which would not take significantly more capital requirements than the original 32 million and likely with more positive results in terms of acceptance from KNB shareholders....I suppose we won't have to wait much longer to see what the enigma has in store for shareholders.
Bullboard Posts