GER's revenue streamToday's News Release is another example of how GER is positioned to generate revenue while other exploration companies are scrambling to find money for their projects. It's pure genius to have a large processing plant in Honduras (with the backing of the Honduras government!) so the smaller miners have to pay us a royalty
everytime they want their material processed.
But that's just for starters...
The big money will happen once GER announces that they've secured their own mining concession so that we can process our own material. By then, I hope we have the new equipment installed and ready to process 50 tons per day. THAT'S where the big money is...and that's when our stock will bust wide open.
************************************************************************************************************
MONTREAL, QUEBEC--(Marketwired - July 21, 2016) - Glen Eagle Resources Inc. (TSX VENTURE:GER) ("Glen Eagle" or the "Company") is pleased to announce that the transaction to sell its Authier lithium asset for the sum of CDN $4 000 000 has been closed after Sayona Mining Limited and Glen Eagle have complied with all the requisites to finalize the transaction including full payment made by Sayona Mining Limited to acquire the Authier asset.
The proceeds will be used in part to purchase additional mining equipment to increase Cobra Oro's production capacity at its already profitable processing plant in Honduras, pay back its debt and acquire gold mining concessions for exploration purposes while staying focussed on its core business as a gold producer. Due to the transaction, the Company believes that it can achieve these objectives and still remain with well over two million dollars in its treasury.