Glen Eagle Resources Inc V.GER

Timing of ER

[lapiastre]

the timing of earning report goes well with long term chart. Let's hope for surprising profitable operations going forward. That would confirm the reversal imo.

[Scanner454]

will anybody buy the shares?

[lapiastre]

go cashflow positive and give back dividend. We will see if anybofy buy the shares.

[Scanner454]

this is not a dividend stock as any surplus stock would be needed to pay down debt

[lapiastre]

what debt are you refering to ?

[Scanner454]

so what i see from the mda 3rd.qtr. ended is total liabilities of 1,4400,200 which need to be payed....they also have two convertible debentures totalling 250 thousan bearing interest at 12 per cent.....in addition they have term loans totalling 680 thousand bearing interest at 12 to 15 percent annually......with the price of gold as high it is,one would think that they would be able to generate

[lapiastre]

speculating.... ; - 150 t /day operation - 5 g/t gold at 1900$/oz Now being conservative to me is = 120t X 200day = 24 000 t per year 24000t X 3 g/t = 72 000 grams or around 2000 oz /year So being extremely conservative that would be roughly 4million per year. At the best, i would say 300day X 150t = 45000 t X 5g/t = 225000 g. = 6800 oz X 1900$ TOTAL = 12 920 000 $ Considering the ''debt

[lapiastre]

forgot to add about the actual share price of .06. That gives a 8-9 million market cap to ger. Now, with expectation of around 4-6 millions from production, plus adding the infrastructure and land packages, it is fair to assume that ger is actually trading at 1:1. Imo, this would surely deserve to trade at 3:1. Of course, i must be wrong, but still think of a .18 to be fair considering what is

[Scanner454]

last report was they were getting 1 to 2 grams per ton which will not keep the lights on imho.....now if they are getting 5 and greater per ton the lights will burn longer and brighter