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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
Comment by massivemeltdownon Jun 23, 2009 8:38pm
238 Views
Post# 16093253

RE: Wow

RE: WowUnder the influence of this financing management of GER are in a better position to deal with the competing ORV offer.  It's clear shareholders of KNB are not looking for some off-the-wall-investment-loan - rather a clear offer which properly and transparently value the project is what will be required.  Even if GER increases the offer in the current form, I would still be inclined to believe shareholders will opt for the all cash offer being presented by ORV.  The fact GER now has a bankroll similar to ORV, this may become a heads-up poker match and it will be very interesting who will be successful in their bid.  Fortunately, as it stands ORV has a wildcard which can trump the funds raised by GER in terms of their shares so I would say advantage ORV if managed properly.  I don't believe with all the litigation that is before the courts GER would be that irresponsible to manufacture this type of news.  Then again, for a company that lacks a website and receptionist I am genuinely amazed with their ability to raise funds within such a relatively short period of time.  Congrats to GER shareholders and it will be interesting how they utilize these funds to satisfy the conditions of repayment.  Lebreque...wow indeed.
Bullboard Posts