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MONTREAL, QUEBEC--(Marketwired - April 26, 2017) - Glen Eagle Resources Inc. (TSX VENTURE:GER) is pleased to announce that Cobra Oro de Honduras, a wholly own Honduran subsidiary of Glen Eagle, has reached commercial production on April 1, 2017 in line with guidance as stated in a prior news release dated February 28, 2017.
The passage from production to commercial production implies that Cobra Oro will no longer capitalize its expenses, allowing the company to release an income statement and production numbers on a quarterly basis.
Gold sales continue apace as the Company will have produced from February through April approximately $500,000 in gold despite heavy construction and reorganization at its processing plant. Sales volume should increase substantially over the current quarter as bigger and better equipment will enter in service.
Cobra Oro has 32 employees working 24/7 at its processing plant in southern Honduras, an area known for being friendly to mining and providing a safe environment.
For the latest pictures related to ongoing construction work at its processing plant, please visit our website here.
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release." Values in the news release are quoted in canadian dollars.